PEPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0321%/8h= −35.1% APRnext payment −$3.21 per $10,000 · paid last 24h −0.006%

Price spread now: Variational Omni against Orderly+0.260%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.260% dearer against Orderly than usual: you sell high and buy low (spread +0.260% now, against zero (this spread has no 7-day history yet)): +$26 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 2.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_1000PEPE_USDC	0.000004808	0.0421	pay 0.0421% / 8h	2h 05m	$29K	$11K	20x
Short	Variational Omni 1000PEPE	0.000004820	0.0100	get 0.0100% / 8h	2h 05m	$577K	$3.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Orderly. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 OrderlybpFee Variational OmnibpOrdersPrice spread, now +0.260%Rate

Funding earned: −$67.36
Price spread: +0.260% → 0.000%: $25.96
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$47.41
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Variational Omni: RFQ quote, 3 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 3 min ago	5.18 bp	doesn't fit	30.0 bp −$300	doesn't fit	doesn't fit

Orderly: 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
dYdX PEPE-USD	0.0000%	1h	0.000004802	−0.118%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004793	−0.316%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004802	−0.123%	$58.5M	$72.9M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004808	+0.002%	$59K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004808	+0.002%	$87.4M	$275.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004799	−0.185%	$150.0M	$62.3M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004807	−0.027%	$24.8M	$53.3M	75x	as long as short
Variational Omni 1000PEPEshort	+0.0100%	8h	0.000004820	+0.260%	$577K	$3.8M	—
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004830	+0.454%	$27K	$340K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004814	+0.129%	$1K	$2.4M	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-USDT	+0.0100%	8h	0.000004798	−0.216%	$552K	$3.4M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0182%	8h	0.000004809	+0.023%	$41.4M	$485.6M	50x	as long as short
Bitget PEPEUSDT	+0.0183%	8h	0.000004810	+0.044%	$42.4M	$150.9M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004799	−0.186%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0299%	8h	0.000004803	−0.102%	$3.9M	$21.8M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0318% / S −0.0217%	1h	0.000004000	−16.804%	$52K	—	100x	as long as short
Orderly PERP_1000PEPE_USDClong	+0.0421%	8h	0.000004808	long leg	$29K	$11K	20x
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004798	−0.206%	$577K	$25.0M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0509%	8h	0.000004806	−0.042%	$2.3M	$6.4M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0535%	8h	0.000004809	+0.026%	$5K	$16	20x	as long as short
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004824	+0.335%	$4K	$110K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0583%	1h	0.000004804	−0.081%	$81K	$94K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0712%	1h	0.000004803	−0.112%	$92K	$624K	15x	as long as short
Lighter 1000PEPE	+0.0728%	1h	0.000004810	+0.044%	$571K	$5.3M	10x	as long as short
Nado kPEPE-PERP	+0.0748%	1h	0.000004801	−0.149%	$188K	$848K	10x	as long as short
SoDEX 1000PEPE-USD	+0.0750%	1h	0.000004805	−0.060%	$2K	$9K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0759%	1h	0.000004830	+0.460%	$103K	$762K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0762%	1h	0.000004803	−0.109%	$3.9M	$13.1M	50x	as long as short
BingX 1000PEPE-USDC	+0.0826%	8h	0.000004802	−0.125%	—	$2.3M	—	as long as short
Extended 1000PEPE-USD	+0.0872%	1h	0.000004803	−0.101%	$529K	$147K	25x	as long as short
MEXC PEPE_USDT	+0.0872%	8h	0.000004814	+0.133%	$91.5M	$292.6M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0872%	1h	0.000004811	+0.064%	$136K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0873%	8h	0.000004815	+0.139%	$128.3M	$1.02B	75x	as long as short
Aster 1000PEPEUSDT	+0.0899%	8h	0.000004806	−0.035%	$1.5M	$6.9M	50x	as long as short
01 Exchange kPEPEUSD	+0.1184%	1h	0.000004805	−0.060%	$550	$2K	10x	as long as short