Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0276%/8h= +30.3% APRpaid last 24h +0.041%

Price spread now: Deribit against KuCoin+0.282%53s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Deribit is 0.282% dearer against KuCoin than usual: you sell high and buy low: +$28 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.007% in total (about 0.4% 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	KuCoin PEPEUSDTM	0.000004779	0.0100	pay 0.0100% / 8h	40m 24s	$24.5M	$54.3M	75x
Short	Deribit 1000PEPE_USDC-PERPETUAL	0.000004793	0.0376	get 0.0047% / 1h	40m 24s	$81K	$94K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against KuCoin. 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 KuCoinbpFee DeribitbpOrdersPrice spread, now +0.282%Rate

Funding earned: $58.02
Price spread: +0.282% → 0.000%: $28.25
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $67.27
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: KuCoin: live order book, 4 min ago; Deribit: no order-book sample. Net counts fees only.

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 KuCoin live order book, 4 min ago	1.14 bp	12.2 bp −$12	20.0 bp −$200	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Hyperliquid kPEPE	−0.0206%	1h	0.000004776	−0.073%	$64.9M	$91.3M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004770	−0.201%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004793	+0.276%	$14K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0067%	1h	0.000004792	+0.260%	$3.9M	$13.6M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004780	+0.010%	$59K	$115K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004777	−0.042%	$85.8M	$289.1M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004775	−0.094%	$149.4M	$64.2M	75x	as long as short
KuCoin PEPEUSDTMlong	+0.0100%	8h	0.000004779	long leg	$24.5M	$54.3M	75x
Bitget PEPEUSDT	+0.0100%	8h	0.000004779	−0.013%	$42.3M	$150.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004829	+1.034%	$591K	$4.1M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004821	+0.861%	$26K	$350K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004820	+0.847%	$101K	$761K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004803	+0.502%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004791	+0.241%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004797	+0.362%	$542K	$3.5M	75x	as long as short
Lighter 1000PEPE	+0.0176%	1h	0.000004787	+0.157%	$607K	$6.3M	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004776	−0.064%	$7K	—	15x	as long as short
Paradex kPEPE-USD-PERP	+0.0198%	8h	0.000004779	−0.007%	$5K	$16	20x	as long as short
Phemex u1000PEPEUSDT	+0.0212%	8h	0.000004798	+0.379%	$2.3M	$6.4M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0212%	8h	0.000004781	+0.031%	$41.4M	$496.5M	50x	as long as short
01 Exchange kPEPEUSD	+0.0224%	1h	0.000004781	+0.031%	$548	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0332%	8h	0.000004795	+0.324%	$3.9M	$22.3M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0367% / S −0.0413%	1h	0.000004000	−16.309%	$42K	—	100x	as long as short
Deribit 1000PEPE_USDC-PERPETUALshort	+0.0376%	1h	0.000004793	+0.282%	$81K	$94K	25x
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004796	+0.345%	$567K	$25.7M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0412%	8h	0.000004794	+0.312%	$30K	$12K	20x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004797	+0.366%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0450%	1h	0.000004792	+0.270%	$91K	$601K	15x	as long as short
BingX 1000PEPE-USDT	+0.0656%	8h	0.000004784	+0.094%	—	$256.4M	—	as long as short
Binance 1000PEPEUSDT	+0.0656%	8h	0.000004779	−0.002%	$131.0M	$1.06B	75x	as long as short
Aster 1000PEPEUSDT	+0.0662%	8h	0.000004773	−0.126%	$1.5M	$7.2M	50x	as long as short
MEXC PEPE_USDT	+0.0663%	8h	0.000004779	−0.019%	$92.5M	$280.3M	300x	as long as short
Extended 1000PEPE-USD	+0.0664%	1h	0.000004783	+0.073%	$526K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0664%	1h	0.000004798	+0.387%	$136K	—	3x	as long as short
Nado kPEPE-PERP	+0.0811%	1h	0.000004782	+0.047%	$183K	$849K	10x	as long as short