Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0696%/8h= −76.2% APRpaid last 24h −0.137%

Price spread now: dYdX against Aster−0.178%7-day average — · you buy dearer than you sell

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

Long on Aster Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and dYdX is 0.178% cheaper against Aster than usual: you would sell low and buy high (−$18 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster 1000PEPEUSDT	0.000005055	0.0696	pay 0.0696% / 8h	5h 41m	$1.8M	$9.0M	50x
Short	dYdX PEPE-USD	0.000005046	0	get 0.0000% / 1h	41m 43s	$19K	$95	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Aster. 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 AsterbpFee dYdXbpOrdersPrice spread, now −0.178%Rate

Funding earned: −$146.18
Price spread: −0.178% → 0.000%: −$17.8
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$181.99
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 2 min ago; dYdX: no order-book sample. 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 Aster live order book, 2 min ago	2.86 bp	9.5 bp −$9	15.5 bp −$155	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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 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-USDshort	0.0000%	1h	0.000005046	−0.178%	$19K	$95	10x
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005055	+0.008%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005053	−0.039%	$64K	$135K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005049	−0.124%	$98.6M	$333.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005059	+0.079%	$165.7M	$73.9M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005057	+0.038%	$25.5M	$62.1M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005053	−0.037%	$46.4M	$171.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005020	−0.700%	$706K	$4.6M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005025	−0.585%	$27K	$425K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005066	+0.216%	$1K	$2.4M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005066	+0.228%	$578K	$3.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005064	+0.171%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0300%	8h	0.000005052	−0.059%	$45.9M	$583.6M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0314%	8h	0.000005064	+0.170%	$33K	$24K	20x	as long as short
BloFin PEPE-USDT	+0.0419%	8h	0.000005074	+0.376%	$4.4M	$25.2M	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0541%	1h	0.000005060	+0.099%	$61K	$114K	25x	as long as short
BingX 1000PEPE-USDT	+0.0562%	8h	0.000005057	+0.030%	—	$260.7M	—	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0567% / S −0.0870%	1h	0.000005000	−1.088%	$49K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0576%	1h	0.000005064	+0.178%	$861K	$31.1M	50x	as long as short
Aevo 1000PEPE-PERP	+0.0592%	1h	0.000005067	+0.238%	$143K	—	3x	as long as short
MEXC PEPE_USDT	+0.0595%	8h	0.000005061	+0.119%	$96.5M	$287.6M	300x	as long as short
Extended 1000PEPE-USD	+0.0600%	1h	0.000005055	+0.007%	$536K	$221K	25x	as long as short
Binance 1000PEPEUSDT	+0.0601%	8h	0.000005051	−0.086%	$141.6M	$1.19B	75x	as long as short
Phemex u1000PEPEUSDT	+0.0603%	8h	0.000005062	+0.147%	$2.4M	$7.0M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0607%	1h	0.000005065	+0.198%	$2K	$12K	10x	as long as short
Aster 1000PEPEUSDTlong	+0.0696%	8h	0.000005055	long leg	$1.8M	$9.0M	50x
Paradex kPEPE-USD-PERP	+0.0743%	8h	0.000005062	+0.131%	$6K	—	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0769%	1h	0.000005035	−0.395%	$98K	$752K	25x	as long as short
Nado kPEPE-PERP	+0.0920%	1h	0.000005061	+0.110%	$184K	$866K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0956%	1h	0.000005065	+0.188%	$100K	$617K	15x	as long as short
Injective PEPE/USDC PERP	+0.0973%	1h	0.000005105	+0.989%	$4K	$102K	12x	as long as short
01 Exchange kPEPEUSD	+0.0992%	1h	0.000005065	+0.198%	$611	$3K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1373%	1h	0.000005068	+0.266%	$4.2M	$15.1M	50x	as long as short
Lighter 1000PEPE	+0.1584%	1h	0.000005055	0.000%	$718K	$8.0M	10x	as long as short
Hyperliquid kPEPE	+0.1805%	1h	0.000005062	+0.139%	$55.6M	$137.4M	10x	as long as short