Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0089%/8h= +9.7% APRpaid last 24h +0.026%

Price spread now: Reya against Bitget+0.305%49s7-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 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 for this trade now. Funding pays +$3 a day on $10k at the current rate, and Reya is 0.305% dearer against Bitget than usual: you sell high and buy low: +$30 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 49 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	Bitget PEPEUSDT	0.000005059	0.0100	pay 0.0100% / 8h	7h 14m	$44.9M	$154.5M	75x
Short	Reya kPEPERUSDPERP	0.000005075	0.0189	get 0.0024% / 1h	14m 32s	$8K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.305%Rate

Funding earned: $18.63
Price spread: +0.305% → 0.000%: $30.45
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: $31.08
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Bitget: live order book, 5 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 Bitget live order book, 5 min ago	3.59 bp	9.6 bp −$10	14.7 bp −$147	32.7 bp −$3,273	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	+0.573%	$4.0M	$14.2M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000005060	+0.016%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005074	+0.287%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005071	+0.229%	$60K	$120K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005056	−0.065%	$95.1M	$308.7M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005063	+0.071%	$162.5M	$68.5M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005063	+0.071%	$26.0M	$57.0M	75x	as long as short
Bitget PEPEUSDTlong	+0.0100%	8h	0.000005059	long leg	$44.9M	$154.5M	75x
Variational Omni 1000PEPE	+0.0100%	8h	0.000005052	−0.152%	$591K	$4.4M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005019	−0.798%	$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	+0.627%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000005086	+0.526%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005065	+0.111%	$570K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000005083	+0.457%	$2.4M	$6.7M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0173%	1h	0.000005021	−0.759%	$104K	$750K	25x	as long as short
Reya kPEPERUSDPERPshort	+0.0189%	1h	0.000005075	+0.305%	$8K	—	15x
OKX PEPE-USDT-SWAP	+0.0196%	8h	0.000005065	+0.111%	$45.2M	$545.8M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0252%	8h	0.000005060	+0.005%	$6K	$16	20x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0274%	8h	0.000005086	+0.524%	$31K	$14K	20x	as long as short
BloFin PEPE-USDT	+0.0313%	8h	0.000005087	+0.546%	$4.2M	$24.4M	75x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000005088	+0.565%	$694K	$28.0M	50x	as long as short
BingX 1000PEPE-USDT	+0.0457%	8h	0.000005062	+0.053%	—	$257.5M	—	as long as short
Extended 1000PEPE-USD	+0.0480%	1h	0.000005063	+0.061%	$557K	$163K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0480%	1h	0.000005073	+0.269%	$143K	—	3x	as long as short
MEXC PEPE_USDT	+0.0481%	8h	0.000005064	+0.087%	$100.4M	$290.1M	300x	as long as short
Binance 1000PEPEUSDT	+0.0483%	8h	0.000005063	+0.065%	$139.8M	$1.12B	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0489% / S −0.0822%	1h	0.000005000	−1.174%	$48K	—	100x	as long as short
Nado kPEPE-PERP	+0.0516%	1h	0.000005077	+0.347%	$191K	$863K	10x	as long as short
Aster 1000PEPEUSDT	+0.0534%	8h	0.000005075	+0.306%	$1.5M	$7.5M	50x	as long as short
Lighter 1000PEPE	+0.0536%	1h	0.000005071	+0.229%	$664K	$6.8M	10x	as long as short
01 Exchange kPEPEUSD	+0.0584%	1h	0.000005067	+0.150%	$1K	$2K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0602%	1h	0.000005090	+0.599%	$97K	$601K	15x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000005084	+0.486%	$4K	$102K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0931%	1h	0.000005088	+0.565%	$62K	$114K	25x	as long as short
Hyperliquid kPEPE	+0.1791%	1h	0.000005096	+0.723%	$57.9M	$130.4M	10x	as long as short