Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0345%/8h= −37.8% APRpaid last 24h −0.079%

Price spread now: Reya against Aster−0.164%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 Reya

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—+ Points / potential airdropAster: Stage 5 · Reya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Reya is 0.164% cheaper against Aster than usual: you would sell low and buy high (−$16 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	0.000005083	0.0534	pay 0.0534% / 8h	7h 14m	$1.5M	$7.5M	50x
Short	Reya kPEPERUSDPERP	0.000005075	0.0189	get 0.0024% / 1h	14m 44s	$8K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.164%Rate

Funding earned: −$72.44
Price spread: −0.164% → 0.000%: −$16.39
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: −$102.83
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 4 min ago; Reya: 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, 4 min ago	1.80 bp	8.4 bp −$8	12.1 bp −$121	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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
Kraken Futures PF_PEPEUSD	−0.0115%	1h	0.000005088	+0.104%	$4.0M	$14.2M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000005064	−0.384%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005074	−0.182%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005071	−0.239%	$60K	$120K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005070	−0.257%	$95.3M	$308.5M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005076	−0.140%	$162.8M	$68.4M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005078	−0.101%	$26.1M	$57.0M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005069	−0.270%	$44.9M	$154.5M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005052	−0.618%	$591K	$4.4M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005019	−1.261%	$52K	$380K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005091	+0.157%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000005086	+0.056%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005065	−0.357%	$570K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000005083	−0.013%	$2.4M	$6.7M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0173%	1h	0.000005021	−1.222%	$104K	$750K	25x	as long as short
Reya kPEPERUSDPERPshort	+0.0189%	1h	0.000005075	−0.164%	$8K	—	15x
OKX PEPE-USDT-SWAP	+0.0196%	8h	0.000005075	−0.160%	$45.3M	$546.9M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0249%	8h	0.000005069	−0.275%	$6K	$16	20x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0274%	8h	0.000005086	+0.054%	$31K	$14K	20x	as long as short
BloFin PEPE-USDT	+0.0313%	8h	0.000005087	+0.076%	$4.2M	$24.4M	75x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000005088	+0.096%	$694K	$28.0M	50x	as long as short
BingX 1000PEPE-USDT	+0.0457%	8h	0.000005073	−0.194%	—	$257.5M	—	as long as short
MEXC PEPE_USDT	+0.0478%	8h	0.000005082	−0.020%	$100.6M	$290.0M	300x	as long as short
Extended 1000PEPE-USD	+0.0480%	1h	0.000005077	−0.128%	$557K	$153K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0480%	1h	0.000005073	−0.199%	$143K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0482%	8h	0.000005078	−0.095%	$140.3M	$1.12B	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0489% / S −0.0822%	1h	0.000005000	−1.636%	$48K	—	100x	as long as short
Nado kPEPE-PERP	+0.0516%	1h	0.000005077	−0.121%	$191K	$863K	10x	as long as short
Aster 1000PEPEUSDTlong	+0.0534%	8h	0.000005083	long leg	$1.5M	$7.5M	50x
Lighter 1000PEPE	+0.0536%	1h	0.000005071	−0.239%	$664K	$6.8M	10x	as long as short
01 Exchange kPEPEUSD	+0.0576%	1h	0.000005078	−0.101%	$1K	$2K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0602%	1h	0.000005090	+0.129%	$97K	$601K	15x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000005084	+0.017%	$4K	$102K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0931%	1h	0.000005088	+0.096%	$62K	$114K	25x	as long as short
Hyperliquid kPEPE	+0.1791%	1h	0.000005096	+0.253%	$57.9M	$130.4M	10x	as long as short