Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: HTX against Phemex+0.098%7-day average −0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$840.842% of the position

Long on Phemex Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.096%+$10 on $10k

Price spread, last 3 days (all we have)−0.096%−$10 · spread now +0.098%, 7d avg −0.019%

Together, before fees0.000%$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.117% dearer against Phemex than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex u1000PEPEUSDT	0.000004983	0.0100	pay 0.0100% / 8h	7h 24m	$2.4M	$6.7M	50x
Short	HTX PEPE-USDT	0.000004988	0.0100	get 0.0100% / 8h	7h 24m	$559K	$3.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Phemex. 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 PhemexbpFee HTXbpOrdersPrice spread, now +0.098%Rate

Funding earned: $0
Price spread: +0.098% → −0.019%: $11.72
Slippage, 4 orders: −$60.22
Fee Phemex: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$72.5
Costs to cover: 0.842%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; HTX: live order book, 4 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 Phemex live order book, 4 min ago	13.69 bp	26.7 bp −$27	42.0 bp −$420	doesn't fit	doesn't fit
Sell HTX live order book, 4 min ago	10.38 bp	16.5 bp −$16	32.4 bp −$324	94.7 bp −$9,474	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	0.000004992	+0.188%	$3.9M	$14.1M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004996	+0.262%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004980	−0.052%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005001	+0.369%	$59K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004991	+0.165%	$92.6M	$304.9M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004998	+0.309%	$158.5M	$67.0M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004997	+0.283%	$25.3M	$56.4M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005000	+0.351%	$43.6M	$152.9M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004973	−0.199%	$612K	$4.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004955	−0.560%	$52K	$377K	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	0.000004993	+0.201%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004986	+0.068%	$2K	$12K	10x	as long as short
HTX PEPE-USDTshort	+0.0100%	8h	0.000004988	+0.098%	$559K	$3.5M	75x
Phemex u1000PEPEUSDTlong	+0.0100%	8h	0.000004983	long leg	$2.4M	$6.7M	50x
OKX PEPE-USDT-SWAP	+0.0183%	8h	0.000004995	+0.249%	$43.9M	$533.0M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004980	−0.045%	$8K	—	15x	as long as short
Paradex kPEPE-USD-PERP	+0.0213%	8h	0.000004998	+0.305%	$6K	$16	20x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0284%	8h	0.000004982	−0.004%	$31K	$14K	20x	as long as short
BloFin PEPE-USDT	+0.0301%	8h	0.000004995	+0.249%	$4.1M	$23.8M	75x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0310%	1h	0.000004960	−0.454%	$103K	$754K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000004993	+0.209%	$674K	$27.3M	50x	as long as short
Lighter 1000PEPE	+0.0400%	1h	0.000005004	+0.429%	$584K	$6.7M	10x	as long as short
Nado kPEPE-PERP	+0.0467%	1h	0.000004997	+0.285%	$195K	$858K	10x	as long as short
BingX 1000PEPE-USDT	+0.0475%	8h	0.000004998	+0.307%	—	$257.2M	—	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0480% / S −0.0383%	1h	0.000004000	−19.721%	$62K	—	100x	as long as short
Extended 1000PEPE-USD	+0.0488%	1h	0.000004998	+0.304%	$549K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0488%	1h	0.000004986	+0.068%	$141K	—	3x	as long as short
MEXC PEPE_USDT	+0.0489%	8h	0.000005003	+0.409%	$100.2M	$285.7M	300x	as long as short
Binance 1000PEPEUSDT	+0.0489%	8h	0.000004998	+0.313%	$138.3M	$1.10B	75x	as long as short
01 Exchange kPEPEUSD	+0.0504%	1h	0.000005000	+0.349%	$1K	$2K	10x	as long as short
Aster 1000PEPEUSDT	+0.0521%	8h	0.000004995	+0.245%	$1.5M	$7.5M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0562%	1h	0.000004994	+0.225%	$95K	$601K	15x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000004983	+0.008%	$4K	$102K	12x	as long as short
Hyperliquid kPEPE	+0.0915%	1h	0.000005011	+0.570%	$59.3M	$121.3M	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.1156%	1h	0.000004987	+0.088%	$64K	$115K	25x	as long as short