Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.027%

Price spread now: dYdX against Bybit+0.101%7-day average — · you sell dearer than you buy

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

Long on Bybit 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 0.101% dearer against Bybit than usual: you sell high and buy low (spread +0.101% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit 1000PEPEUSDT	0.000005194	0.0100	pay 0.0100% / 8h	4h 26m	$101.3M	$354.9M	50x
Short	dYdX PEPE-USD	0.000005199	0	get 0.0000% / 1h	26m 02s	$19K	$95	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Bybit. 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 BybitbpFee dYdXbpOrdersPrice spread, now +0.101%Rate

Funding earned: −$21
Price spread: +0.101% → 0.000%: $10.13
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$31.87
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 3 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 Bybit live order book, 3 min ago	0.96 bp	8.4 bp −$8	16.8 bp −$168	38.2 bp −$3,822	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 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-USDshort	0.0000%	1h	0.000005199	+0.101%	$19K	$95	10x
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005194	+0.004%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005207	+0.256%	$66K	$144K	10x	as long as short
Bybit 1000PEPEUSDTlong	+0.0100%	8h	0.000005194	long leg	$101.3M	$354.9M	50x
Gate PEPE_USDT	+0.0100%	8h	0.000005202	+0.160%	$174.5M	$79.4M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005198	+0.075%	$26.3M	$65.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005200	+0.112%	$761K	$4.8M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005196	+0.047%	$37K	$459K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005209	+0.300%	$1K	$2.5M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005200	+0.123%	$590K	$3.7M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005214	+0.381%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0198%	8h	0.000005199	+0.092%	$48.1M	$178.6M	75x	as long as short
Injective PEPE/USDC PERP	+0.0254%	1h	0.000005173	−0.399%	$3K	$102K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0347%	8h	0.000005208	+0.285%	$34K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0378%	8h	0.000005199	+0.102%	$49.2M	$629.1M	50x	as long as short
BloFin PEPE-USDT	+0.0497%	8h	0.000005214	+0.391%	$4.4M	$26.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0539%	8h	0.000005206	+0.237%	$2.6M	$7.3M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0672%	1h	0.000005200	+0.121%	$1.0M	$33.4M	50x	as long as short
BingX 1000PEPE-USDT	+0.0697%	8h	0.000005207	+0.250%	—	$262.7M	—	as long as short
Aevo 1000PEPE-PERP	+0.0736%	1h	0.000005211	+0.333%	$147K	—	3x	as long as short
MEXC PEPE_USDT	+0.0738%	8h	0.000005207	+0.258%	$98.8M	$290.4M	300x	as long as short
Binance 1000PEPEUSDT	+0.0741%	8h	0.000005202	+0.150%	$149.7M	$1.25B	75x	as long as short
Extended 1000PEPE-USD	+0.0744%	1h	0.000005207	+0.262%	$550K	$226K	25x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0775% / S −0.1561%	1h	0.000005000	−3.730%	$64K	—	100x	as long as short
Paradex kPEPE-USD-PERP	+0.0813%	8h	0.000005200	+0.121%	$6K	—	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0834%	1h	0.000005220	+0.506%	$104K	$743K	25x	as long as short
Nado kPEPE-PERP	+0.0841%	1h	0.000005215	+0.407%	$194K	$897K	10x	as long as short
Aster 1000PEPEUSDT	+0.0850%	8h	0.000005210	+0.320%	$1.9M	$9.5M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0859%	1h	0.000005209	+0.295%	$2K	$10K	10x	as long as short
Lighter 1000PEPE	+0.0872%	1h	0.000005212	+0.352%	$599K	$8.3M	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0904%	1h	0.000005206	+0.237%	$74K	$125K	25x	as long as short
01 Exchange kPEPEUSD	+0.1160%	1h	0.000005192	−0.033%	$626	$3K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.1168%	1h	0.000005207	+0.258%	$99K	$666K	15x	as long as short
Kraken Futures PF_PEPEUSD	+0.1250%	1h	0.000005209	+0.303%	$4.7M	$15.9M	50x	as long as short
Hyperliquid kPEPE	+0.1592%	1h	0.000005213	+0.372%	$56.2M	$141.8M	10x	as long as short