Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0422%/8h= −46.2% APRpaid last 24h −0.011%

Price spread now: Reya against Binance−0.075%45s7-day average — · you buy dearer than you sell

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

Long on Binance 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 airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Reya is 0.075% cheaper against Binance than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance 1000PEPEUSDT	0.000004983	0.0611	pay 0.0611% / 8h	5h 33m	$139.8M	$1.20B	75x
Short	Reya kPEPERUSDPERP	0.000004979	0.0189	get 0.0024% / 1h	33m 50s	$8K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Binance. 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 BinancebpFee ReyabpOrdersPrice spread, now −0.075%Rate

Funding earned: −$88.69
Price spread: −0.075% → 0.000%: −$7.51
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$112.2
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 10 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 Binance live order book, 10 min ago	0.69 bp	7.8 bp −$8	13.0 bp −$130	38.8 bp −$3,878	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
dYdX PEPE-USD	0.0000%	1h	0.000004972	−0.220%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000004966	−0.335%	$14K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004980	−0.050%	$63K	$136K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004980	−0.042%	$97.2M	$336.1M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004965	−0.351%	$163.1M	$74.6M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004968	−0.285%	$25.2M	$62.3M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004980	−0.054%	$45.9M	$172.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005042	+1.184%	$681K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005040	+1.158%	$36K	$434K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004976	−0.128%	$2K	$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	0.000004980	−0.052%	$569K	$3.6M	75x	as long as short
Reya kPEPERUSDPERPshort	+0.0189%	1h	0.000004979	−0.075%	$8K	—	15x
OKX PEPE-USDT-SWAP	+0.0316%	8h	0.000004984	+0.030%	$44.9M	$579.8M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0316%	8h	0.000004962	−0.413%	$33K	$24K	20x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0355%	1h	0.000004959	−0.472%	$60K	$114K	25x	as long as short
BloFin PEPE-USDT	+0.0434%	8h	0.000005067	+1.696%	$4.4M	$25.3M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0566%	1h	0.000004972	−0.211%	$2K	$12K	10x	as long as short
BingX 1000PEPE-USDT	+0.0575%	8h	0.000004973	−0.193%	—	$260.9M	—	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0576%	1h	0.000004969	−0.271%	$833K	$30.7M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0582% / S −0.0904%	1h	0.000004000	−19.719%	$49K	—	100x	as long as short
Extended 1000PEPE-USD	+0.0608%	1h	0.000004967	−0.316%	$527K	$226K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0608%	1h	0.000004975	−0.151%	$141K	—	3x	as long as short
MEXC PEPE_USDT	+0.0611%	8h	0.000004985	+0.050%	$94.1M	$288.8M	300x	as long as short
Binance 1000PEPEUSDTlong	+0.0611%	8h	0.000004983	long leg	$139.8M	$1.20B	75x
Aster 1000PEPEUSDT	+0.0694%	8h	0.000004967	−0.320%	$1.8M	$9.0M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0766%	8h	0.000004980	−0.056%	$6K	—	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0862%	1h	0.000005040	+1.154%	$99K	$753K	25x	as long as short
Phemex u1000PEPEUSDT	+0.0899%	8h	0.000004976	−0.136%	$2.3M	$7.0M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0927%	1h	0.000004969	−0.279%	$95K	$624K	15x	as long as short
Nado kPEPE-PERP	+0.0928%	1h	0.000004974	−0.167%	$180K	$869K	10x	as long as short
Injective PEPE/USDC PERP	+0.0973%	1h	0.000005105	+2.459%	$4K	$102K	12x	as long as short
01 Exchange kPEPEUSD	+0.0984%	1h	0.000004981	−0.030%	$601	$3K	10x	as long as short
Lighter 1000PEPE	+0.1320%	1h	0.000004981	−0.030%	$698K	$8.0M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1399%	1h	0.000004972	−0.210%	$4.2M	$15.1M	50x	as long as short
Hyperliquid kPEPE	+0.1735%	1h	0.000004984	+0.030%	$53.2M	$139.1M	10x	as long as short