Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against Bitget+0.187%7-day average — · you sell dearer than you buy

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

Long on Bitget 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—needs both histories

The price spread pays, funding is against you. dYdX is 0.187% dearer against Bitget than usual: you sell high and buy low (spread +0.187% now, against zero (this spread has no 7-day history yet)): +$19 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PEPEUSDT	0.000005057	0.0100	pay 0.0100% / 8h	6h 29m	$46.5M	$159.9M	75x
Short	dYdX PEPE-USD	0.000005067	0	get 0.0000% / 1h	29m 28s	$19K	$95	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Bitget. 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 BitgetbpFee dYdXbpOrdersPrice spread, now +0.187%Rate

Funding earned: −$21
Price spread: +0.187% → 0.000%: $18.72
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$24.28
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 5 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 Bitget live order book, 5 min ago	1.98 bp	9.1 bp −$9	9.8 bp −$98	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 34 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	0.000005067	+0.187%	$19K	$95	10x
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005047	−0.202%	$14K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005074	+0.334%	$62K	$125K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005047	−0.200%	$98.2M	$321.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005054	−0.061%	$161.8M	$70.5M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005059	+0.030%	$25.0M	$60.0M	75x	as long as short
Bitget PEPEUSDTlong	+0.0100%	8h	0.000005057	long leg	$46.5M	$159.9M	75x
Variational Omni 1000PEPE	+0.0100%	8h	0.000005030	−0.541%	$565K	$4.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005036	−0.412%	$27K	$409K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005045	−0.231%	$2K	$2.4M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005060	+0.059%	$571K	$3.6M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0188%	8h	0.000005078	+0.409%	$2.4M	$6.8M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005058	+0.017%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0226%	8h	0.000005050	−0.140%	$44.8M	$564.3M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0277%	8h	0.000005049	−0.162%	$33K	$23K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0340%	1h	0.000005036	−0.417%	$106K	$746K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0424%	1h	0.000005086	+0.571%	$665K	$29.2M	50x	as long as short
BingX 1000PEPE-USDT	+0.0482%	8h	0.000005052	−0.109%	—	$258.5M	—	as long as short
Aevo 1000PEPE-PERP	+0.0504%	1h	0.000005055	−0.042%	$143K	—	3x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0507% / S −0.0412%	1h	0.000005000	−1.129%	$63K	—	100x	as long as short
MEXC PEPE_USDT	+0.0511%	8h	0.000005050	−0.134%	$95.4M	$289.8M	300x	as long as short
Binance 1000PEPEUSDT	+0.0512%	8h	0.000005053	−0.078%	$142.5M	$1.16B	75x	as long as short
Extended 1000PEPE-USD	+0.0512%	1h	0.000005067	+0.201%	$557K	$199K	25x	as long as short
Paradex kPEPE-USD-PERP	+0.0535%	8h	0.000005071	+0.274%	$6K	$16	20x	as long as short
Nado kPEPE-PERP	+0.0599%	1h	0.000005058	+0.018%	$178K	$878K	10x	as long as short
Aster 1000PEPEUSDT	+0.0601%	8h	0.000005064	+0.133%	$1.7M	$8.1M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0645%	1h	0.000005082	+0.492%	$2K	$12K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0819%	1h	0.000005082	+0.498%	$4.0M	$14.5M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0908%	1h	0.000005078	+0.419%	$102K	$616K	15x	as long as short
Injective PEPE/USDC PERP	+0.0909%	1h	0.000005052	−0.101%	$4K	$102K	12x	as long as short
01 Exchange kPEPEUSD	+0.0992%	1h	0.000005074	+0.334%	$1K	$2K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.1334%	1h	0.000005058	+0.018%	$61K	$114K	25x	as long as short
Lighter 1000PEPE	+0.1448%	1h	0.000005082	+0.492%	$1.1M	$7.3M	10x	as long as short
Hyperliquid kPEPE	+0.2257%	1h	0.000005067	+0.196%	$55.8M	$135.6M	10x	as long as short