Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0211%/8h= −23.0% APRpaid last 24h +0.119%

Price spread now: Backpack against MEXC+0.688%7-day average −0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs+$9as in the Funding arb table

Net, price: spread back to 7d avg − costs+$61as in the Price arb table

costs, in and out, $10k−$140.135% of the position

Long on MEXC Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.230%+$23 on $10k

Price spread, last 4 days (all we have)−0.791%−$79 · spread now +0.688%, 7d avg −0.054%

Together, before fees−0.561%−$56 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.742% dearer against MEXC than usual: you sell high and buy low (spread +0.688% now, against its 7-day average of −0.054%): +$74 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 12 days. Mind the row above: over the last 7 days funding on this pair paid +0.230%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PEPE_USDT	0.000005158	0.0722	pay 0.0722% / 8h	22m 23s	$101.8M	$307.8M	300x
Short	Backpack kPEPE_USDC_PERP	0.000005194	0.0511	get 0.0064% / 1h	22m 23s	$70K	$883K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against MEXC. 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 MEXCbpFee BackpackbpOrdersPrice spread, now +0.688%Rate

Funding earned: −$44.21
Price spread: +0.688% → −0.054%: $74.24
Slippage, 4 orders: −$3.54
Fee MEXC: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: $16.5
Costs to cover: 0.135%
Break-even: from the start

Slippage from MEXC: live order book, 2 min ago; Backpack: live order book, 17 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 MEXC live order book, 2 min ago	0.58 bp	1.6 bp −$2	14.5 bp −$145	46.7 bp −$4,665	79.1 bp −$39.5K
Sell Backpack live order book, 17 min ago	0.10 bp	5.2 bp −$5	16.7 bp −$167	doesn't fit	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	0.000005160	+0.035%	$19K	$649	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005157	−0.027%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005168	+0.190%	$60K	$183K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005162	+0.066%	$99.5M	$429.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005157	−0.023%	$163.7M	$99.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005155	−0.071%	$614K	$5.4M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005163	+0.097%	$28K	$546K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005168	+0.196%	$2K	$2.7M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005193	+0.669%	$604K	$4.2M	75x	as long as short
KuCoin PEPEUSDTM	+0.0120%	8h	0.000005165	+0.122%	$26.8M	$74.0M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX 1000PEPE-USD	+0.0132%	1h	0.000005165	+0.132%	$2K	$11K	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005161	+0.051%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0259%	8h	0.000005163	+0.103%	$46.3M	$219.9M	75x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0306%	1h	0.000005162	+0.074%	$150K	$835K	25x	as long as short
OKX PEPE-USDT-SWAP	+0.0364%	8h	0.000005167	+0.171%	$47.8M	$749.0M	50x	as long as short
Injective PEPE/USDC PERP	+0.0404%	1h	0.000005153	−0.101%	$8K	$120K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0413%	8h	0.000005165	+0.126%	$34K	$26K	20x	as long as short
Paradex kPEPE-USD-PERP	+0.0459%	8h	0.000005160	+0.030%	$6K	—	20x	as long as short
Phemex u1000PEPEUSDT	+0.0474%	8h	0.000005189	+0.605%	$2.4M	$8.1M	50x	as long as short
BloFin PEPE-USDT	+0.0483%	8h	0.000005195	+0.713%	$4.6M	$30.6M	75x	as long as short
Backpack kPEPE_USDC_PERPshort	+0.0511%	1h	0.000005194	+0.688%	$70K	$883K	15x
Lighter 1000PEPE	+0.0528%	1h	0.000005178	+0.384%	$621K	$9.1M	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0544%	1h	0.000005172	+0.268%	$689K	$39.9M	50x	as long as short
BingX 1000PEPE-USDT	+0.0697%	8h	0.000005163	+0.093%	—	$218.7M	—	as long as short
Nado kPEPE-PERP	+0.0700%	1h	0.000005160	+0.026%	$166K	$958K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0711%	1h	0.000005160	+0.037%	$4.8M	$16.7M	50x	as long as short
01 Exchange kPEPEUSD	+0.0712%	1h	0.000005161	+0.054%	$623	$2K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0719%	1h	0.000005164	+0.112%	$74K	$127K	25x	as long as short
Extended 1000PEPE-USD	+0.0720%	1h	0.000005165	+0.131%	$542K	$284K	25x	as long as short
MEXC PEPE_USDTlong	+0.0722%	8h	0.000005158	long leg	$101.8M	$307.8M	300x
Aster 1000PEPEUSDT	+0.0723%	8h	0.000005166	+0.159%	$1.7M	$11.9M	50x	as long as short
Binance 1000PEPEUSDT	+0.0724%	8h	0.000005164	+0.118%	$142.3M	$1.50B	75x	as long as short
Aevo 1000PEPE-PERP	+0.0728%	1h	0.000005170	+0.229%	$146K	—	3x	as long as short
Hyperliquid kPEPE	+0.0957%	1h	0.000005162	+0.074%	$53.8M	$159.1M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1068% / S −0.1502%	1h	0.000005000	−3.067%	$47K	—	100x	as long as short