Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0130%/8h= −14.2% APRpaid last 24h +0.005%

Price spread now: Deribit against MEXC−0.388%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$240.235% of the position

Long on MEXC Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Deribit is 0.388% cheaper against MEXC than usual: you would sell low and buy high (−$39 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PEPE_USDT	0.000005073	0.0474	pay 0.0474% / 8h	7h 04m	$99.4M	$292.3M	300x
Short	Deribit 1000PEPE_USDC-PERPETUAL	0.000005053	0.0344	get 0.0043% / 1h	4m 33s	$61K	$114K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.388%Rate

Funding earned: −$27.29
Price spread: −0.388% → 0.000%: −$38.84
Slippage, 4 orders: −$16.53
Fee MEXC: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$89.65
Costs to cover: 0.235%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Deribit: live order book, 34 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, 5 min ago	0.99 bp	1.8 bp −$2	20.1 bp −$201	52.6 bp −$5,257	80.9 bp −$40.4K
Sell Deribit live order book, 34 min ago	6.11 bp	9.6 bp −$10	doesn't fit	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
Kraken Futures PF_PEPEUSD	−0.0116%	1h	0.000005055	−0.350%	$4.0M	$14.3M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000005067	−0.113%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005049	−0.459%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005067	−0.112%	$60K	$120K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005065	−0.146%	$95.4M	$311.4M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005066	−0.132%	$162.8M	$69.3M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005066	−0.126%	$25.8M	$57.7M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005068	−0.087%	$45.0M	$155.7M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005053	−0.397%	$591K	$4.4M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005083	+0.208%	$46K	$386K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005060	−0.254%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000005057	−0.309%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005058	−0.294%	$567K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000005059	−0.272%	$2.4M	$6.8M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005063	−0.197%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0193%	8h	0.000005069	−0.073%	$45.2M	$550.1M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0272%	8h	0.000005055	−0.343%	$32K	$22K	20x	as long as short
Paradex kPEPE-USD-PERP	+0.0306%	8h	0.000005068	−0.085%	$6K	$16	20x	as long as short
BloFin PEPE-USDT	+0.0308%	8h	0.000005060	−0.250%	$4.2M	$24.5M	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUALshort	+0.0344%	1h	0.000005053	−0.388%	$61K	$114K	25x
ApeX Omni 1000PEPEUSDT	+0.0348%	1h	0.000005084	+0.223%	$111K	$753K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000005062	−0.211%	$603K	$28.3M	50x	as long as short
BingX 1000PEPE-USDC	+0.0459%	8h	0.000005070	−0.043%	—	$2.3M	—	as long as short
Extended 1000PEPE-USD	+0.0472%	1h	0.000005069	−0.080%	$558K	$199K	25x	as long as short
MEXC PEPE_USDTlong	+0.0474%	8h	0.000005073	long leg	$99.4M	$292.3M	300x
Binance 1000PEPEUSDT	+0.0476%	8h	0.000005072	−0.022%	$140.2M	$1.13B	75x	as long as short
Aevo 1000PEPE-PERP	+0.0480%	1h	0.000005055	−0.349%	$143K	—	3x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0501% / S −0.0406%	1h	0.000005000	−1.433%	$63K	—	100x	as long as short
Aster 1000PEPEUSDT	+0.0537%	8h	0.000005073	+0.008%	$1.5M	$7.8M	50x	as long as short
Nado kPEPE-PERP	+0.0571%	1h	0.000005066	−0.138%	$191K	$866K	10x	as long as short
Lighter 1000PEPE	+0.0616%	1h	0.000005078	+0.104%	$667K	$6.9M	10x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000005083	+0.203%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0661%	1h	0.000005060	−0.258%	$96K	$601K	15x	as long as short
01 Exchange kPEPEUSD	+0.0664%	1h	0.000005072	−0.014%	$1K	$2K	10x	as long as short
Hyperliquid kPEPE	+0.2272%	1h	0.000005084	+0.223%	$56.7M	$132.9M	10x	as long as short