Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.1305%/8hpaid last 24h −0.043%

Price spread now: BloFin against Kraken Futures+0.014%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$510.508% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.162%+$16 on $10k

Price spread, last 3 days (all we have)−0.036%−$4 · spread now +0.014%, 7d avg +0.002%

Together, before fees+0.126%+$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.002%, so right now this pair is about funding alone: −$39 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.162%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.162% in total (about 8.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_PEPEUSD	0.000004968	0.1525	pay 0.0191% / 1h	4m 24s	$4.0M	$12.0M	50x
Short	BloFin PEPE-USDT	0.000004969	0.0220	get 0.0220% / 8h	4h 04m	$4.0M	$21.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee BloFinbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$274.06
Price spread: +0.014% → +0.002%: $1.24
Slippage, 4 orders: −$28.8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$323.63
Costs to cover: 0.508%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; BloFin: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Kraken Futures live order book, 4 min ago	4.01 bp	16.9 bp −$17	23.8 bp −$238	72.8 bp −$7,284	doesn't fit
Sell BloFin live order book, 4 min ago	2.01 bp	11.6 bp −$12	14.0 bp −$140	26.0 bp −$2,595	doesn't fit

PEPE on 35 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PEPE-USD	0.0000%	1h	0.000004966	−0.046%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004968	−0.006%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004970	+0.034%	$59K	$105K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004968	−0.008%	$89.5M	$256.1M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0100%	8h	0.000004976	+0.155%	$43.7M	$485.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004967	−0.026%	$151.6M	$58.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004963	−0.105%	$25.5M	$46.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004973	+0.104%	$724K	$3.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004990	+0.433%	$28K	$330K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004980	+0.229%	$2K	$2.4M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000004972	+0.078%	$572K	$3.7M	75x	as long as short
Bitget PEPEUSDT	+0.0141%	8h	0.000004967	−0.030%	$46.9M	$136.3M	75x	as long as short
Reya kPEPERUSDPERP	+0.0188%	1h	0.000004969	+0.011%	$8K	—	15x	as long as short
BloFin PEPE-USDTshort	+0.0220%	8h	0.000004969	+0.014%	$4.0M	$21.3M	75x
SoDEX 1000PEPE-USD	+0.0267%	1h	0.000004968	−0.006%	$2K	$9K	10x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0292%	8h	0.000004972	+0.066%	$31K	$10K	20x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0293% / S −0.0264%	1h	0.000004000	−19.490%	$46K	—	100x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0307%	1h	0.000004987	+0.376%	$103K	$757K	25x	as long as short
Hyperliquid kPEPE	+0.0479%	1h	0.000004970	+0.034%	$56.7M	$61.7M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0480%	8h	0.000004969	+0.016%	$6K	$26	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0496%	1h	0.000004967	−0.026%	$634K	$25.0M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0503%	8h	0.000004970	+0.034%	$2.4M	$6.1M	50x	as long as short
Nado kPEPE-PERP	+0.0625%	1h	0.000004971	+0.057%	$200K	$795K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0720%	1h	0.000004966	−0.044%	$97K	$573K	15x	as long as short
01 Exchange kPEPEUSD	+0.0728%	1h	0.000004971	+0.054%	$569	$2K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0757%	1h	0.000004972	+0.074%	$84K	$87K	25x	as long as short
BingX 1000PEPE-USDT	+0.0758%	8h	0.000004971	+0.054%	—	$251.0M	—	as long as short
Lighter 1000PEPE	+0.0760%	1h	0.000004975	+0.135%	$600K	$5.0M	10x	as long as short
Extended 1000PEPE-USD	+0.0800%	1h	0.000004971	+0.051%	$546K	$145K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0800%	1h	0.000004971	+0.054%	$141K	—	3x	as long as short
MEXC PEPE_USDT	+0.0802%	8h	0.000004970	+0.036%	$114.1M	$270.2M	300x	as long as short
Binance 1000PEPEUSDT	+0.0803%	8h	0.000004976	+0.150%	$131.9M	$954.3M	75x	as long as short
Aster 1000PEPEUSDT	+0.0898%	8h	0.000004973	+0.097%	$1.5M	$6.4M	50x	as long as short
Kraken Futures PF_PEPEUSDlong	+0.1525%	1h	0.000004968	long leg	$4.0M	$12.0M	50x
Injective PEPE/USDC PERP	+0.2268%	1h	0.000004956	−0.248%	$5K	$68K	12x	as long as short