Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0049%/8h= −5.4% APRpaid last 24h −0.063%

Price spread now: Variational Omni against SoDEX+0.111%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 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 0.111% dearer against SoDEX than usual: you sell high and buy low (spread +0.111% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX 1000PEPE-USD	0.000005116	0.0149	pay 0.0019% / 1h	41m 38s	$2K	$11K	10x
Short	Variational Omni 1000PEPE	0.000005122	0.0100	get 0.0100% / 8h	7h 41m	$642K	$5.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against SoDEX. 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 SoDEXbpFee Variational OmnibpOrdersPrice spread, now +0.111%Rate

Funding earned: −$10.39
Price spread: +0.111% → 0.000%: $11.05
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$7.33
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SoDEX: 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 SoDEX no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 3 min ago	4.87 bp	doesn't fit	20.5 bp −$205	doesn't fit	doesn't fit

SoDEX: 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	0.000005118	+0.031%	$19K	$649	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005110	−0.119%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005119	+0.059%	$60K	$186K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005119	+0.051%	$98.6M	$435.8M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005117	+0.020%	$162.5M	$99.2M	75x	as long as short
Variational Omni 1000PEPEshort	+0.0100%	8h	0.000005122	+0.111%	$642K	$5.4M	—
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005134	+0.357%	$28K	$551K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005127	+0.213%	$2K	$2.7M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005123	+0.137%	$599K	$4.2M	75x	as long as short
Injective PEPE/USDC PERP	+0.0147%	1h	0.000005128	+0.235%	$7K	$121K	12x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX 1000PEPE-USDlong	+0.0149%	1h	0.000005116	long leg	$2K	$11K	10x
KuCoin PEPEUSDTM	+0.0161%	8h	0.000005117	+0.025%	$26.7M	$74.8M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005116	−0.007%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0213%	8h	0.000005108	−0.154%	$46.1M	$222.2M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0305%	8h	0.000005116	−0.006%	$2.4M	$8.1M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0336%	8h	0.000005116	0.000%	$47.0M	$748.2M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0374%	1h	0.000005128	+0.235%	$149K	$837K	25x	as long as short
Paradex kPEPE-USD-PERP	+0.0424%	8h	0.000005117	+0.016%	$6K	—	20x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0434%	8h	0.000005115	−0.012%	$34K	$26K	20x	as long as short
Backpack kPEPE_USDC_PERP	+0.0439%	1h	0.000005115	−0.016%	$76K	$895K	15x	as long as short
BloFin PEPE-USDT	+0.0457%	8h	0.000005121	+0.098%	$4.5M	$30.4M	75x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0504%	1h	0.000005121	+0.098%	$673K	$39.8M	50x	as long as short
Hyperliquid kPEPE	+0.0517%	1h	0.000005120	+0.078%	$53.0M	$160.3M	10x	as long as short
01 Exchange kPEPEUSD	+0.0544%	1h	0.000005106	−0.195%	$616	$2K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0620%	1h	0.000005112	−0.071%	$4.8M	$16.5M	50x	as long as short
Lighter 1000PEPE	+0.0624%	1h	0.000005121	+0.098%	$614K	$9.0M	10x	as long as short
BingX 1000PEPE-USDT	+0.0642%	8h	0.000005107	−0.180%	—	$175.9M	—	as long as short
Nado kPEPE-PERP	+0.0665%	1h	0.000005118	+0.043%	$164K	$965K	10x	as long as short
Binance 1000PEPEUSDT	+0.0665%	8h	0.000005118	+0.043%	$141.3M	$1.51B	75x	as long as short
MEXC PEPE_USDT	+0.0668%	8h	0.000005119	+0.057%	$100.9M	$306.7M	300x	as long as short
Extended 1000PEPE-USD	+0.0672%	1h	0.000005109	−0.143%	$537K	$280K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0672%	1h	0.000005116	0.000%	$145K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0682%	8h	0.000005119	+0.051%	$1.7M	$12.0M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0728%	1h	0.000005115	−0.020%	$73K	$128K	25x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1019% / S −0.1149%	1h	0.000005000	−2.267%	$51K	—	100x	as long as short