Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0741%/8h= −81.1% APRpaid last 24h −0.098%

Price spread now: edgeX against Aster−0.458%7-day average −0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$260.264% of the position

Long on Aster Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.136%−$14 on $10k

Price spread, last 4 days (all we have)+0.599%+$60 · spread now −0.458%, 7d avg −0.061%

Together, before fees+0.462%+ Points / potential airdropAster: Stage 5 · edgeX: Active · farm board+$46 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and edgeX is 0.397% cheaper against Aster than usual: you would sell low and buy high (−$40 if the spread goes back to its 7-day average of −0.061%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.136% in total (about -7.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster 1000PEPEUSDT	0.000005220	0.0841	pay 0.0841% / 8h	4h 29m	$1.9M	$9.5M	50x
Short	edgeX 1000PEPEUSDC	0.000005196	0.0100	get 0.0050% / 4h	29m 21s	$37K	$459K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.458%Rate

Funding earned: −$155.63
Price spread: −0.458% → −0.061%: −$39.68
Slippage, 4 orders: −$9.36
Fee Aster: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$221.67
Costs to cover: 0.264%
Break-even: never at this rate

Slippage from Aster: live order book, 4 min ago; edgeX: live order book, 29 min ago.

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, 4 min ago	1.75 bp	8.9 bp −$9	19.4 bp −$194	doesn't fit	doesn't fit
Sell edgeX live order book, 29 min ago	1.09 bp	5.8 bp −$6	84.7 bp −$847	doesn't fit	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	0.000005210	−0.192%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005219	−0.026%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005216	−0.078%	$66K	$144K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005225	+0.091%	$102.3M	$353.4M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005224	+0.076%	$171.9M	$77.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005229	+0.164%	$26.4M	$64.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005188	−0.622%	$760K	$4.8M	—	as long as short
edgeX 1000PEPEUSDCshort	+0.0100%	4h	0.000005196	−0.458%	$37K	$459K	20x
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005202	−0.336%	$2K	$2.5M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005189	−0.591%	$590K	$3.7M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005230	+0.191%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0195%	8h	0.000005229	+0.162%	$48.2M	$177.7M	75x	as long as short
Injective PEPE/USDC PERP	+0.0254%	1h	0.000005173	−0.901%	$3K	$102K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0344%	8h	0.000005236	+0.307%	$34K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0379%	8h	0.000005232	+0.229%	$48.6M	$629.3M	50x	as long as short
BloFin PEPE-USDT	+0.0497%	8h	0.000005200	−0.384%	$4.3M	$26.4M	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0521%	1h	0.000005190	−0.576%	$74K	$125K	25x	as long as short
Phemex u1000PEPEUSDT	+0.0561%	8h	0.000005191	−0.553%	$2.6M	$7.3M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0672%	1h	0.000005191	−0.557%	$988K	$33.1M	50x	as long as short
BingX 1000PEPE-USDC	+0.0684%	8h	0.000005225	+0.097%	—	$2.3M	—	as long as short
Aevo 1000PEPE-PERP	+0.0720%	1h	0.000005213	−0.135%	$147K	—	3x	as long as short
Extended 1000PEPE-USD	+0.0728%	1h	0.000005220	−0.003%	$552K	$226K	25x	as long as short
MEXC PEPE_USDT	+0.0728%	8h	0.000005234	+0.277%	$99.8M	$289.9M	300x	as long as short
Binance 1000PEPEUSDT	+0.0733%	8h	0.000005230	+0.197%	$149.6M	$1.25B	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0766% / S −0.1537%	1h	0.000005000	−4.215%	$64K	—	100x	as long as short
Nado kPEPE-PERP	+0.0798%	1h	0.000005225	+0.097%	$194K	$896K	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0822%	8h	0.000005211	−0.168%	$6K	—	20x	as long as short
Aster 1000PEPEUSDTlong	+0.0841%	8h	0.000005220	long leg	$1.9M	$9.5M	50x
ApeX Omni 1000PEPEUSDT	+0.0844%	1h	0.000005137	−1.591%	$102K	$743K	25x	as long as short
SoDEX 1000PEPE-USD	+0.0879%	1h	0.000005196	−0.461%	$2K	$12K	10x	as long as short
Lighter 1000PEPE	+0.0912%	1h	0.000005222	+0.037%	$601K	$8.3M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.1133%	1h	0.000005211	−0.173%	$97K	$662K	15x	as long as short
01 Exchange kPEPEUSD	+0.1168%	1h	0.000005236	+0.306%	$632	$3K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1253%	1h	0.000005197	−0.439%	$4.6M	$15.8M	50x	as long as short
Hyperliquid kPEPE	+0.1581%	1h	0.000005233	+0.248%	$56.3M	$141.5M	10x	as long as short