PEPE arbitrage explained
Right now Pepe (PEPE) trades on 11 venues we scan: 11 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Bybit perp at $0.00000405 and the highest bid on MEXC spot at $0.00000406.
The widest PEPE perpetual spread is between Bybit and Binance: long PEPE on Bybit at $0.00000405 and short on Binance at $0.00000405 for +0.02% gross, or -0.14% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is -0.010% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best PEPE route is to buy spot on Bitget and short the perpetual on Binance: -0.00% gross, -0.20% net, with -0.003% a day of funding on the short leg.
Spot–spot PEPE arbitrage (buy on Bitget, withdraw, deposit and sell on MEXC) shows +0.02% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small PEPE gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: PEPE funding rates · PEPE spread charts · Pepe price · arbitrage scanner for all coins.