Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0116%/8h= +12.7% APRpaid last 24h −0.009%

Price spread now: OKX against Pacifica−0.208%49s7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as 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−$410.405% of the position

Long on Pacifica Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.059%−$6 on $10k

Price spread, last 4 days (all we have)+0.164%+$16 · spread now −0.208%, 7d avg −0.029%

Together, before fees+0.105%+ Points / potential airdropPacifica: Active · farm board+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.178% cheaper against Pacifica than usual: you would sell low and buy high (spread −0.208% now, against its 7-day average of −0.029%). If the spread goes back, that is −$18 on $10k: about 5.1 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.059%, so the current rate has only just turned in your favour. The two prices were read 49 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	Pacifica kPEPE	0.000004812	0.0100	pay 0.0013% / 1h	13m 48s	$60K	$114K	10x
Short	OKX PEPE-USDT-SWAP	0.000004802	0.0216	get 0.0216% / 8h	1h 13m	$41.6M	$492.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Pacifica. 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 PacificabpFee OKXbpOrdersPrice spread, now −0.208%Rate

Funding earned: $24.35
Price spread: −0.208% → −0.029%: −$17.85
Slippage, 4 orders: −$22.54
Fee Pacifica: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$34.04
Costs to cover: 0.405%
Break-even: 16.8 days

Slippage from Pacifica: live order book, 4 min ago; OKX: live order book, 5 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 Pacifica live order book, 4 min ago	5.23 bp	11.2 bp −$11	19.3 bp −$193	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	1.04 bp	6.0 bp −$6	10.7 bp −$107	32.1 bp −$3,213	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	0.000004806	−0.121%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004796	−0.341%	$14K	—	150x	as long as short
Lighter 1000PEPE	+0.0096%	1h	0.000004802	−0.208%	$656K	$6.0M	10x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004797	−0.312%	$62.4M	$82.4M	10x	as long as short
Pacifica kPEPElong	+0.0100%	1h	0.000004812	long leg	$60K	$114K	10x
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004799	−0.268%	$87.1M	$282.7M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004796	−0.333%	$150.0M	$63.3M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004795	−0.349%	$24.8M	$54.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004782	−0.625%	$541K	$4.0M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004784	−0.577%	$27K	$345K	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	0.000004807	−0.102%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004803	−0.187%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004810	−0.039%	$542K	$3.5M	75x	as long as short
Bitget PEPEUSDT	+0.0119%	8h	0.000004802	−0.200%	$42.2M	$148.8M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004801	−0.227%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAPshort	+0.0216%	8h	0.000004802	−0.208%	$41.6M	$492.0M	50x
Paradex kPEPE-USD-PERP	+0.0286%	8h	0.000004808	−0.075%	$5K	$16	20x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0323% / S −0.0346%	1h	0.000004000	−16.874%	$43K	—	100x	as long as short
BloFin PEPE-USDT	+0.0337%	8h	0.000004812	0.000%	$3.9M	$22.2M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0347%	8h	0.000004802	−0.212%	$2.3M	$6.4M	50x	as long as short
01 Exchange kPEPEUSD	+0.0416%	1h	0.000004810	−0.042%	$551	$2K	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0448%	1h	0.000004804	−0.166%	$588K	$25.5M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0451%	8h	0.000004800	−0.247%	$29K	$11K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0471%	1h	0.000004779	−0.686%	$102K	$763K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0558%	1h	0.000004802	−0.210%	$93K	$614K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0584%	1h	0.000004799	−0.270%	$81K	$94K	25x	as long as short
BingX 1000PEPE-USDT	+0.0742%	8h	0.000004802	−0.218%	—	$256.4M	—	as long as short
Nado kPEPE-PERP	+0.0749%	1h	0.000004806	−0.123%	$185K	$845K	10x	as long as short
Binance 1000PEPEUSDT	+0.0764%	8h	0.000004803	−0.179%	$130.4M	$1.04B	75x	as long as short
MEXC PEPE_USDT	+0.0765%	8h	0.000004796	−0.328%	$91.4M	$285.7M	300x	as long as short
Extended 1000PEPE-USD	+0.0768%	1h	0.000004799	−0.272%	$529K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0768%	1h	0.000004804	−0.166%	$136K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0782%	8h	0.000004799	−0.275%	$1.5M	$7.1M	50x	as long as short
Injective PEPE/USDC PERP	+0.0873%	1h	0.000004785	−0.561%	$4K	$103K	12x	as long as short
Kraken Futures PF_PEPEUSD	+0.1328%	1h	0.000004802	−0.204%	$3.9M	$13.3M	50x	as long as short