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: Bybit against Variational Omni−0.285%7-day average +0.032% · you buy dearer than you sell

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.012%−$1 on $10k

Price spread, last 7 days+0.297%+$30 · spread now −0.285%, 7d avg +0.032%

Together, before fees+0.285%+ Points / potential airdropVariational Omni: Active · farm board+$29 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: Bybit is 0.317% cheaper against Variational Omni than usual: you would sell low and buy high, −$32 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni 1000PEPE	0.000005026	0.0100	pay 0.0100% / 8h	3h 00m	$596K	$5.3M	—
Short	Bybit 1000PEPEUSDT	0.000005011	0.0100	get 0.0100% / 8h	3h 00m	$100.3M	$391.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. 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 Variational OmnibpFee BybitbpOrdersPrice spread, now −0.285%Rate

Funding earned: $0
Price spread: −0.285% → +0.032%: −$31.7
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$42.7
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Bybit: live order book, 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 Variational Omni RFQ quote, 3 min ago	4.87 bp	doesn't fit	16.6 bp −$166	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.98 bp	9.0 bp −$9	17.4 bp −$174	39.1 bp −$3,909	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	0.000005043	+0.347%	$19K	$95	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	0.0000%	1h	0.000005026	+0.008%	$72K	$127K	25x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0007%	1h	0.000005030	+0.085%	$4K	—	150x	as long as short
Injective PEPE/USDC PERP	+0.0092%	1h	0.000005327	+5.997%	$3K	$111K	12x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005050	+0.485%	$63K	$164K	10x	as long as short
Bybit 1000PEPEUSDTshort	+0.0100%	8h	0.000005011	−0.285%	$100.3M	$391.3M	50x
Gate PEPE_USDT	+0.0100%	8h	0.000005006	−0.390%	$162.9M	$91.0M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005013	−0.251%	$25.0M	$69.1M	75x	as long as short
Variational Omni 1000PEPElong	+0.0100%	8h	0.000005026	long leg	$596K	$5.3M	—
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005126	+1.998%	$28K	$537K	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	0.000005032	+0.129%	$2K	$2.6M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005026	+0.010%	$561K	$4.0M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005039	+0.268%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0349%	8h	0.000005012	−0.263%	$48.8M	$194.8M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0411%	8h	0.000005010	−0.311%	$47.1M	$663.4M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0413%	8h	0.000005034	+0.159%	$34K	$26K	20x	as long as short
SoDEX 1000PEPE-USD	+0.0505%	1h	0.000005028	+0.047%	$2K	$10K	10x	as long as short
BloFin PEPE-USDT	+0.0541%	8h	0.000005032	+0.127%	$4.6M	$27.6M	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0558%	8h	0.000005049	+0.474%	$6K	—	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0712%	1h	0.000005037	+0.226%	$690K	$35.8M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0722%	8h	0.000005041	+0.302%	$2.4M	$7.7M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0778%	1h	0.000005128	+2.037%	$158K	$810K	25x	as long as short
BingX 1000PEPE-USDT	+0.0789%	8h	0.000005018	−0.148%	—	$236.9M	—	as long as short
Extended 1000PEPE-USD	+0.0824%	1h	0.000005009	−0.327%	$533K	$252K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0824%	1h	0.000005034	+0.167%	$142K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0826%	8h	0.000005018	−0.152%	$144.1M	$1.36B	75x	as long as short
MEXC PEPE_USDT	+0.0829%	8h	0.000005017	−0.179%	$96.2M	$299.2M	300x	as long as short
Aster 1000PEPEUSDT	+0.0904%	8h	0.000005020	−0.111%	$1.7M	$10.7M	50x	as long as short
Nado kPEPE-PERP	+0.0931%	1h	0.000005044	+0.371%	$171K	$929K	10x	as long as short
01 Exchange kPEPEUSD	+0.0968%	1h	0.000005047	+0.425%	$609	$3K	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1028% / S −0.1618%	1h	0.000005000	−0.510%	$67K	—	100x	as long as short
Lighter 1000PEPE	+0.1080%	1h	0.000005033	+0.147%	$617K	$8.9M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.1113%	1h	0.000005022	−0.072%	$84K	$766K	15x	as long as short
Hyperliquid kPEPE	+0.1427%	1h	0.000005015	−0.211%	$53.3M	$148.7M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1626%	1h	0.000005021	−0.086%	$4.6M	$16.6M	50x	as long as short