Funding arb · Price arb /

PEPE

all PEPE markets

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 +0.041%

Price spread now: Phemex against Variational Omni+0.257%7-day average +0.113% · you sell dearer than you buy

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

Long on Variational Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.080%+$8 on $10k

Price spread, last 4 days (all we have)−0.081%−$8 · spread now +0.257%, 7d avg +0.113%

Together, before fees−0.001%+ Points / potential airdropVariational Omni: Active · farm board$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: Phemex is 0.145% dearer against Variational Omni than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.113%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni 1000PEPE	0.000004915	0.0100	pay 0.0100% / 8h	5h 08m	$638K	$5.3M	—
Short	Phemex u1000PEPEUSDT	0.000004928	0.0100	get 0.0100% / 8h	5h 08m	$2.3M	$8.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.257%Rate

Funding earned: $0
Price spread: +0.257% → +0.113%: $14.48
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: $2.48
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Phemex: live order book, 4 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, 4 min ago	5.08 bp	doesn't fit	15.2 bp −$152	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	2.23 bp	14.9 bp −$15	29.3 bp −$293	doesn't fit	doesn't fit

PEPE on 35 exchanges

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	−0.0373%	1h	0.000004923	+0.157%	$4.5M	$16.1M	50x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000004921	+0.117%	$3K	—	150x	as long as short
01 Exchange kPEPEUSD	+0.0048%	1h	0.000004925	+0.198%	$594	$2K	10x	as long as short
Lighter 1000PEPE	+0.0096%	1h	0.000004927	+0.239%	$598K	$9.0M	10x	as long as short
Nado kPEPE-PERP	+0.0100%	1h	0.000004925	+0.198%	$139K	$952K	10x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004926	+0.219%	$49.9M	$155.0M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004927	+0.239%	$58K	$198K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004924	+0.170%	$92.5M	$446.1M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0100%	8h	0.000004925	+0.198%	$44.0M	$719.4M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004923	+0.158%	$149.1M	$104.5M	75x	as long as short

Show all 35 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004926	+0.219%	$24.6M	$76.3M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004922	+0.129%	$43.7M	$233.8M	75x	as long as short
Backpack kPEPE_USDC_PERP	+0.0100%	1h	0.000004923	+0.154%	$74K	$997K	15x	as long as short
Variational Omni 1000PEPElong	+0.0100%	8h	0.000004915	long leg	$638K	$5.3M	—
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004924	+0.172%	$26K	$571K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004924	+0.178%	$109K	$870K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004936	+0.428%	$2K	$2.5M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004925	+0.198%	$2K	$11K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004924	+0.178%	$579K	$4.3M	75x	as long as short
Phemex u1000PEPEUSDTshort	+0.0100%	8h	0.000004928	+0.257%	$2.3M	$8.1M	50x
Paradex kPEPE-USD-PERP	+0.0107%	8h	0.000004926	+0.218%	$6K	—	20x	as long as short
Extended 1000PEPE-USD	+0.0136%	1h	0.000004922	+0.146%	$517K	$288K	25x	as long as short
Binance 1000PEPEUSDT	+0.0140%	8h	0.000004927	+0.248%	$127.2M	$1.53B	75x	as long as short
MEXC PEPE_USDT	+0.0140%	8h	0.000004927	+0.237%	$98.8M	$299.1M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0144%	1h	0.000004927	+0.239%	$139K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0148%	8h	0.000004928	+0.268%	$1.7M	$12.6M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0156%	1h	0.000004924	+0.178%	$61K	$119K	25x	as long as short
BingX 1000PEPE-USDC	+0.0166%	8h	0.000004915	+0.005%	—	$2.3M	—	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004923	+0.160%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0220%	8h	0.000004919	+0.076%	$4.2M	$28.3M	75x	as long as short
Injective PEPE/USDC PERP	+0.0284%	1h	0.000004904	−0.229%	$3K	$123K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0287%	8h	0.000004926	+0.227%	$32K	$30K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004929	+0.280%	$730K	$38.7M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0793% / S −0.0894%	1h	0.000004000	−18.621%	$50K	—	100x	as long as short
dYdX PEPE-USD	+0.3631%	1h	0.000004923	+0.150%	$25K	$18K	10x	as long as short