Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0868%/8h= −95.0% APRpaid last 24h −0.092%

Price spread now: Bybit against 01 Exchange+0.043%7-day average — · you sell dearer than you buy

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

Long on 01 Exchange Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Bybit is 0.043% dearer against 01 Exchange than usual: you sell high and buy low (spread +0.043% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$26 a day in funding at the current rate, which eats that in about 4 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange kPEPEUSD	0.000005106	0.0968	pay 0.0121% / 1h	1m 47s	$616	$3K	10x
Short	Bybit 1000PEPEUSDT	0.000005108	0.0100	get 0.0100% / 8h	6h 01m	$99.6M	$327.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against 01 Exchange. 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 01 ExchangebpFee BybitbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$182.28
Price spread: +0.043% → 0.000%: $4.31
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$195.97
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; Bybit: live order book, 2 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	0.98 bp	8.2 bp −$8	13.7 bp −$137	36.6 bp −$3,659	doesn't fit

01 Exchange: 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 34 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	0.000005081	−0.488%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005099	−0.141%	$18K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005091	−0.294%	$62K	$127K	10x	as long as short
Bybit 1000PEPEUSDTshort	+0.0100%	8h	0.000005108	+0.043%	$99.6M	$327.1M	50x
Gate PEPE_USDT	+0.0100%	8h	0.000005108	+0.039%	$164.0M	$72.6M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005109	+0.051%	$25.7M	$61.5M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005107	+0.027%	$47.7M	$167.2M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005096	−0.204%	$681K	$4.6M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005115	+0.177%	$27K	$422K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005111	+0.094%	$2K	$2.4M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005103	−0.065%	$581K	$3.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005106	−0.009%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0269%	8h	0.000005108	+0.039%	$46.2M	$581.5M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0291%	8h	0.000005116	+0.204%	$34K	$24K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0424%	1h	0.000005121	+0.294%	$933K	$30.8M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0470%	8h	0.000005111	+0.106%	$2.4M	$7.0M	50x	as long as short
BingX 1000PEPE-USDC	+0.0520%	8h	0.000005107	+0.022%	—	$2.3M	—	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0532% / S −0.0565%	1h	0.000005000	−2.076%	$57K	—	100x	as long as short
MEXC PEPE_USDT	+0.0559%	8h	0.000005117	+0.225%	$97.4M	$292.8M	300x	as long as short
Binance 1000PEPEUSDT	+0.0559%	8h	0.000005115	+0.172%	$144.5M	$1.18B	75x	as long as short
Extended 1000PEPE-USD	+0.0560%	1h	0.000005116	+0.189%	$562K	$199K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0560%	1h	0.000005109	+0.059%	$144K	—	3x	as long as short
SoDEX 1000PEPE-USD	+0.0606%	1h	0.000005115	+0.176%	$2K	$12K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0615%	1h	0.000005115	+0.176%	$106K	$749K	25x	as long as short
Nado kPEPE-PERP	+0.0658%	1h	0.000005109	+0.049%	$193K	$881K	10x	as long as short
Aster 1000PEPEUSDT	+0.0661%	8h	0.000005115	+0.184%	$1.7M	$8.3M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0681%	8h	0.000005096	−0.193%	$6K	—	20x	as long as short
Kraken Futures PF_PEPEUSD	+0.0815%	1h	0.000005113	+0.128%	$4.1M	$14.6M	50x	as long as short
Injective PEPE/USDC PERP	+0.0909%	1h	0.000005109	+0.059%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0948%	1h	0.000005116	+0.200%	$99K	$609K	15x	as long as short
01 Exchange kPEPEUSDlong	+0.0968%	1h	0.000005106	long leg	$616	$3K	10x
Deribit 1000PEPE_USDC-PERPETUAL	+0.1121%	1h	0.000005111	+0.098%	$62K	$114K	25x	as long as short
Lighter 1000PEPE	+0.1832%	1h	0.000005113	+0.137%	$1.1M	$7.4M	10x	as long as short
Hyperliquid kPEPE	+0.2032%	1h	0.000005113	+0.137%	$56.5M	$136.3M	10x	as long as short