Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Gate against Variational Omni−0.072%7-day average +0.053% · you buy dearer than you sell

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

Long on Variational Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.003%$0 on $10k

Price spread, last 7 days+0.094%+$9 · spread now −0.072%, 7d avg +0.053%

Together, before fees+0.097%+ Points / potential airdropVariational Omni: Active · farm board+$10 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: Gate is 0.125% cheaper against Variational Omni than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni 1000PEPE	0.000005113	0.0100	pay 0.0100% / 8h	7h 54m	$635K	$5.4M	—
Short	Gate PEPE_USDT	0.000005109	0.0100	get 0.0100% / 8h	7h 54m	$162.8M	$98.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.072%Rate

Funding earned: $0
Price spread: −0.072% → +0.053%: −$12.48
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$27.48
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Gate: live order book, 5 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, 5 min ago	5.84 bp	doesn't fit	13.6 bp −$136	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	1.95 bp	12.0 bp −$12	18.7 bp −$187	63.3 bp −$6,335	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	0.000005107	−0.101%	$19K	$649	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005107	−0.118%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005112	−0.013%	$59K	$186K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005116	+0.061%	$98.6M	$434.5M	50x	as long as short
Gate PEPE_USDTshort	+0.0100%	8h	0.000005109	−0.072%	$162.8M	$98.7M	75x
Variational Omni 1000PEPElong	+0.0100%	8h	0.000005113	long leg	$635K	$5.4M	—
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005123	+0.196%	$28K	$548K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005120	+0.150%	$2K	$2.7M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005110	−0.042%	$598K	$4.2M	75x	as long as short
Injective PEPE/USDC PERP	+0.0147%	1h	0.000005104	−0.169%	$8K	$120K	12x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin PEPEUSDTM	+0.0152%	8h	0.000005112	−0.007%	$26.7M	$74.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005118	+0.101%	$8K	—	15x	as long as short
SoDEX 1000PEPE-USD	+0.0196%	1h	0.000005113	+0.007%	$2K	$11K	10x	as long as short
Bitget PEPEUSDT	+0.0230%	8h	0.000005114	+0.024%	$45.9M	$221.7M	75x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0267%	1h	0.000005136	+0.457%	$150K	$836K	25x	as long as short
OKX PEPE-USDT-SWAP	+0.0347%	8h	0.000005117	+0.085%	$46.9M	$746.9M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0376%	1h	0.000005113	+0.001%	$76K	$895K	15x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0424%	8h	0.000005114	+0.034%	$34K	$26K	20x	as long as short
Paradex kPEPE-USD-PERP	+0.0426%	8h	0.000005113	+0.005%	$6K	—	20x	as long as short
01 Exchange kPEPEUSD	+0.0464%	1h	0.000005116	+0.065%	$617	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0471%	8h	0.000005110	−0.052%	$4.6M	$30.3M	75x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0504%	1h	0.000005126	+0.261%	$678K	$39.8M	50x	as long as short
Hyperliquid kPEPE	+0.0529%	1h	0.000005116	+0.065%	$53.0M	$159.8M	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0533%	1h	0.000005112	−0.013%	$73K	$128K	25x	as long as short
Lighter 1000PEPE	+0.0568%	1h	0.000005117	+0.085%	$620K	$9.0M	10x	as long as short
Phemex u1000PEPEUSDT	+0.0607%	8h	0.000005113	−0.001%	$2.4M	$8.1M	50x	as long as short
Kraken Futures PF_PEPEUSD	+0.0621%	1h	0.000005109	−0.063%	$4.7M	$16.7M	50x	as long as short
Nado kPEPE-PERP	+0.0631%	1h	0.000005117	+0.095%	$162K	$964K	10x	as long as short
BingX 1000PEPE-USDC	+0.0665%	8h	0.000005108	−0.095%	—	$2.3M	—	as long as short
Extended 1000PEPE-USD	+0.0680%	1h	0.000005112	−0.010%	$537K	$280K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0680%	1h	0.000005116	+0.065%	$145K	—	3x	as long as short
MEXC PEPE_USDT	+0.0681%	8h	0.000005109	−0.064%	$99.6M	$305.7M	300x	as long as short
Binance 1000PEPEUSDT	+0.0682%	8h	0.000005119	+0.115%	$141.2M	$1.51B	75x	as long as short
Aster 1000PEPEUSDT	+0.0696%	8h	0.000005116	+0.065%	$1.7M	$12.0M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1019% / S −0.1217%	1h	0.000005000	−2.203%	$50K	—	100x	as long as short