Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0046%/8h= +5.1% APRpaid last 24h +0.021%

Price spread now: ApeX Omni against OKX+1.565%90s7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$410.408% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 3 days (all we have)−1.517%−$152 · spread now +1.565%, 7d avg 0.000%

Together, before fees−1.468%−$147 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and ApeX Omni is 1.565% dearer against OKX than usual: you sell high and buy low: +$156 more if the spread goes back to its 7-day average of 0.000%. The two prices were read 90 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PEPE-USDT-SWAP	0.000004985	0.0188	pay 0.0188% / 8h	7h 01m	$44.1M	$543.8M	50x
Short	ApeX Omni 1000PEPEUSDT	0.000005063	0.0235	get 0.0029% / 1h	1m 52s	$111K	$752K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now +1.565%Rate

Funding earned: $9.69
Price spread: +1.565% → 0.000%: $156.5
Slippage, 4 orders: −$20.79
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $125.39
Costs to cover: 0.408%
Break-even: from the start

Slippage from OKX: live order book, 2 min ago; ApeX Omni: live order book, 7 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 OKX live order book, 2 min ago	0.99 bp	7.4 bp −$7	13.2 bp −$132	44.8 bp −$4,481	doesn't fit
Sell ApeX Omni live order book, 7 min ago	5.63 bp	13.1 bp −$13	79.9 bp −$799	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	−0.0117%	1h	0.000004984	−0.018%	$3.9M	$14.3M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000005002	+0.334%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0009%	1h	0.000004996	+0.219%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005002	+0.341%	$59K	$120K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004978	−0.142%	$95.0M	$312.5M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004987	+0.040%	$159.9M	$69.6M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004983	−0.038%	$25.2M	$58.0M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004984	−0.026%	$44.2M	$156.5M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005053	+1.355%	$591K	$4.4M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005083	+1.971%	$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	0.000004990	+0.102%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004987	+0.040%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004998	+0.259%	$559K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000004991	+0.128%	$2.4M	$6.8M	50x	as long as short
OKX PEPE-USDT-SWAPlong	+0.0188%	8h	0.000004985	long leg	$44.1M	$543.8M	50x
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004998	+0.259%	$8K	—	15x	as long as short
ApeX Omni 1000PEPEUSDTshort	+0.0235%	1h	0.000005063	+1.565%	$111K	$752K	25x
Orderly PERP_1000PEPE_USDC	+0.0269%	8h	0.000005001	+0.313%	$32K	$22K	20x	as long as short
Paradex kPEPE-USD-PERP	+0.0307%	8h	0.000004990	+0.096%	$6K	$16	20x	as long as short
BloFin PEPE-USDT	+0.0313%	8h	0.000005013	+0.562%	$4.1M	$24.4M	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0351%	1h	0.000004990	+0.100%	$61K	$114K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000004991	+0.120%	$626K	$27.9M	50x	as long as short
BingX 1000PEPE-USDC	+0.0459%	8h	0.000004995	+0.207%	—	$2.3M	—	as long as short
Extended 1000PEPE-USD	+0.0472%	1h	0.000004985	−0.004%	$549K	$199K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0472%	1h	0.000004998	+0.261%	$141K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0473%	8h	0.000004979	−0.116%	$137.0M	$1.14B	75x	as long as short
MEXC PEPE_USDT	+0.0475%	8h	0.000004986	+0.026%	$95.9M	$293.6M	300x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0500% / S −0.0406%	1h	0.000004000	−19.759%	$62K	—	100x	as long as short
Aster 1000PEPEUSDT	+0.0530%	8h	0.000004992	+0.136%	$1.7M	$7.8M	50x	as long as short
Nado kPEPE-PERP	+0.0598%	1h	0.000004994	+0.178%	$184K	$867K	10x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000005069	+1.685%	$4K	$102K	12x	as long as short
Lighter 1000PEPE	+0.0656%	1h	0.000004995	+0.201%	$647K	$6.9M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0661%	1h	0.000004985	−0.006%	$96K	$607K	15x	as long as short
01 Exchange kPEPEUSD	+0.0672%	1h	0.000004996	+0.221%	$1K	$2K	10x	as long as short
Hyperliquid kPEPE	+0.2299%	1h	0.000005004	+0.381%	$55.5M	$133.3M	10x	as long as short