Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: HTX against KuCoin−0.407%7-day average +0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$600.595% of the position

Long on KuCoin Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.052%+$5 on $10k

Price spread, last 3 days (all we have)+0.498%+$50 · spread now −0.407%, 7d avg +0.041%

Together, before fees+0.550%+$55 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.448% cheaper against KuCoin than usual: you would sell low and buy high, −$45 on $10k if it goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PEPEUSDTM	0.000005040	0.0100	pay 0.0100% / 8h	6h 34m	$24.9M	$59.7M	75x
Short	HTX PEPE-USDT	0.000005019	0.0100	get 0.0100% / 8h	6h 34m	$566K	$3.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.407%Rate

Funding earned: $0
Price spread: −0.407% → +0.041%: −$44.8
Slippage, 4 orders: −$35.53
Fee KuCoin: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$104.33
Costs to cover: 0.595%
Break-even: never at this rate

Slippage from KuCoin: live order book, 10 min ago; HTX: 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 KuCoin live order book, 10 min ago	2.48 bp	21.1 bp −$21	29.3 bp −$293	doesn't fit	doesn't fit
Sell HTX live order book, 4 min ago	3.70 bp	19.2 bp −$19	27.3 bp −$273	170.6 bp −$17.1K	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	0.000005032	−0.161%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005013	−0.524%	$3K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005038	−0.036%	$61K	$125K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005037	−0.060%	$97.8M	$321.3M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005038	−0.036%	$160.7M	$70.2M	75x	as long as short
KuCoin PEPEUSDTMlong	+0.0100%	8h	0.000005040	long leg	$24.9M	$59.7M	75x
Bitget PEPEUSDT	+0.0100%	8h	0.000005041	+0.016%	$44.7M	$158.8M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005032	−0.160%	$562K	$4.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005012	−0.552%	$27K	$407K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005029	−0.214%	$2K	$2.5M	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-USDTshort	+0.0100%	8h	0.000005019	−0.407%	$566K	$3.6M	75x
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005045	+0.094%	$8K	—	15x	as long as short
Phemex u1000PEPEUSDT	+0.0216%	8h	0.000005027	−0.250%	$2.4M	$6.8M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0218%	8h	0.000005044	+0.083%	$44.7M	$563.3M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0274%	8h	0.000005025	−0.288%	$33K	$23K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0298%	1h	0.000005020	−0.393%	$106K	$751K	25x	as long as short
BloFin PEPE-USDT	+0.0318%	8h	0.000005008	−0.631%	$4.2M	$24.6M	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0348%	1h	0.000005021	−0.373%	$61K	$114K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0424%	1h	0.000005024	−0.314%	$664K	$28.9M	50x	as long as short
BingX 1000PEPE-USDC	+0.0470%	8h	0.000005032	−0.163%	—	$2.3M	—	as long as short
Aevo 1000PEPE-PERP	+0.0488%	1h	0.000005027	−0.254%	$142K	—	3x	as long as short
Paradex kPEPE-USD-PERP	+0.0496%	8h	0.000005040	+0.007%	$6K	$16	20x	as long as short
MEXC PEPE_USDT	+0.0502%	8h	0.000005041	+0.016%	$94.7M	$289.2M	300x	as long as short
Extended 1000PEPE-USD	+0.0504%	1h	0.000005037	−0.048%	$552K	$199K	25x	as long as short
Binance 1000PEPEUSDT	+0.0505%	8h	0.000005044	+0.081%	$141.1M	$1.16B	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0506% / S −0.0383%	1h	0.000005000	−0.790%	$65K	—	100x	as long as short
Aster 1000PEPEUSDT	+0.0590%	8h	0.000005043	+0.054%	$1.7M	$8.1M	50x	as long as short
Nado kPEPE-PERP	+0.0611%	1h	0.000005042	+0.049%	$178K	$880K	10x	as long as short
SoDEX 1000PEPE-USD	+0.0629%	1h	0.000005026	−0.274%	$2K	$12K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0829%	1h	0.000005024	−0.317%	$4.0M	$14.4M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0904%	1h	0.000005031	−0.175%	$102K	$626K	15x	as long as short
Injective PEPE/USDC PERP	+0.0909%	1h	0.000005038	−0.036%	$4K	$102K	12x	as long as short
01 Exchange kPEPEUSD	+0.0960%	1h	0.000005047	+0.143%	$1K	$2K	10x	as long as short
Lighter 1000PEPE	+0.1264%	1h	0.000005047	+0.143%	$1.0M	$7.2M	10x	as long as short
Hyperliquid kPEPE	+0.2328%	1h	0.000005054	+0.282%	$55.7M	$135.4M	10x	as long as short