Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0186%/8h= +20.3% APRpaid last 24h −0.028%

Price spread now: Nado against Aster+0.019%7-day average −0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$360.362% of the position

Long on Aster Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.046%−$5 on $10k

Price spread, last 3 days (all we have)+0.035%+$3 · spread now +0.019%, 7d avg −0.053%

Together, before fees−0.011%+ Points / potential airdropAster: Stage 5 · Nado: Active · farm board−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Nado is 0.072% dearer against Aster than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.053%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.046% in total (about -5.3% 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	0.000004802	0.0727	pay 0.0727% / 8h	57m 28s	$1.5M	$7.2M	50x
Short	Nado kPEPE-PERP	0.000004803	0.0913	get 0.0114% / 1h	57m 28s	$184K	$845K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.019%Rate

Funding earned: $38.98
Price spread: +0.019% → −0.053%: $7.22
Slippage, 4 orders: −$21.2
Fee Aster: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $10
Costs to cover: 0.362%
Break-even: 5.2 days

Slippage from Aster: live order book, 1 min ago; Nado: live order book, 21 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, 1 min ago	1.14 bp	7.4 bp −$7	12.8 bp −$128	doesn't fit	doesn't fit
Sell Nado live order book, 21 min ago	3.13 bp	12.6 bp −$13	33.4 bp −$334	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
Hyperliquid kPEPE	−0.0046%	1h	0.000004795	−0.152%	$65.0M	$86.1M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004796	−0.136%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004797	−0.106%	$14K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0066%	1h	0.000004807	+0.096%	$3.9M	$13.4M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004802	−0.006%	$59K	$114K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004801	−0.027%	$86.7M	$286.3M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004797	−0.110%	$150.6M	$63.7M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004800	−0.046%	$24.6M	$54.1M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004802	−0.002%	$42.3M	$149.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004783	−0.405%	$548K	$4.0M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004795	−0.155%	$28K	$344K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004816	+0.294%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004808	+0.119%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004808	+0.117%	$544K	$3.5M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004804	+0.031%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0220%	8h	0.000004802	−0.006%	$41.4M	$495.5M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0233%	8h	0.000004797	−0.109%	$5K	$16	20x	as long as short
Phemex u1000PEPEUSDT	+0.0289%	8h	0.000004809	+0.144%	$2.3M	$6.4M	50x	as long as short
01 Exchange kPEPEUSD	+0.0296%	1h	0.000004804	+0.035%	$550	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0340%	8h	0.000004802	−0.006%	$3.9M	$22.3M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0344% / S −0.0376%	1h	0.000004000	−16.707%	$42K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004807	+0.098%	$565K	$25.7M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0403%	1h	0.000004789	−0.277%	$101K	$760K	25x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004794	−0.173%	$4K	$102K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0443%	8h	0.000004806	+0.083%	$29K	$11K	20x	as long as short
Lighter 1000PEPE	+0.0672%	1h	0.000004800	−0.048%	$678K	$6.1M	10x	as long as short
BingX 1000PEPE-USDT	+0.0693%	8h	0.000004801	−0.019%	—	$256.4M	—	as long as short
Backpack kPEPE_USDC_PERP	+0.0711%	1h	0.000004808	+0.127%	$92K	$616K	15x	as long as short
Binance 1000PEPEUSDT	+0.0717%	8h	0.000004802	−0.010%	$131.4M	$1.05B	75x	as long as short
MEXC PEPE_USDT	+0.0718%	8h	0.000004803	+0.023%	$92.6M	$277.8M	300x	as long as short
Extended 1000PEPE-USD	+0.0720%	1h	0.000004803	+0.006%	$529K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0720%	1h	0.000004831	+0.598%	$137K	—	3x	as long as short
Aster 1000PEPEUSDTlong	+0.0727%	8h	0.000004802	long leg	$1.5M	$7.2M	50x
Deribit 1000PEPE_USDC-PERPETUAL	+0.0791%	1h	0.000004808	+0.119%	$81K	$94K	25x	as long as short
Nado kPEPE-PERPshort	+0.0913%	1h	0.000004803	+0.019%	$184K	$845K	10x