Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0853%/8h= +93.4% APRpaid last 24h +0.081%

Price spread now: Aster against dYdX−0.066%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Aster

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

Funding pays, the price is against you. Aster is 0.066% cheaper against dYdX than usual: you would sell low and buy high (spread −0.066% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 6 hours of funding at the current rate (+$26 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX PEPE-USD	0.000004811	0	get 0.0000% / 1h	37m 11s	$18K	$95	10x
Short	Aster 1000PEPEUSDT	0.000004808	0.0853	get 0.0853% / 8h	2h 37m	$1.5M	$6.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against dYdX. 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 dYdXbpFee AsterbpOrdersPrice spread, now −0.066%Rate

Funding earned: $179.06
Price spread: −0.066% → 0.000%: −$6.58
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: $154.48
Costs to cover: 0.180%
Break-even: 1.0 days

Slippage unknown: dYdX: no order-book sample; Aster: live order book, 2 min ago. 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 dYdX no order-book sample	—	—	—	—	—
Sell Aster live order book, 2 min ago	1.45 bp	5.5 bp −$5	8.4 bp −$84	doesn't fit	doesn't fit

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-USDlong	0.0000%	1h	0.000004811	long leg	$18K	$95	10x
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004803	−0.173%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004808	−0.069%	$56.6M	$69.6M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004818	+0.139%	$59K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004805	−0.131%	$88.6M	$272.8M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004805	−0.131%	$148.4M	$61.6M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004806	−0.110%	$23.8M	$52.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004852	+0.836%	$713K	$3.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004821	+0.201%	$27K	$337K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004814	+0.050%	$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	0.000004808	−0.067%	$554K	$3.5M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0119%	8h	0.000004808	−0.069%	$41.4M	$488.2M	50x	as long as short
Bitget PEPEUSDT	+0.0170%	8h	0.000004807	−0.098%	$43.4M	$152.0M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004812	+0.016%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0241%	8h	0.000004812	+0.014%	$3.9M	$21.5M	75x	as long as short
Lighter 1000PEPE	+0.0256%	1h	0.000004810	−0.027%	$592K	$5.1M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0318% / S −0.0217%	1h	0.000004000	−16.863%	$52K	—	100x	as long as short
Paradex kPEPE-USD-PERP	+0.0354%	8h	0.000004819	+0.165%	$5K	$16	20x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0371%	8h	0.000004810	−0.021%	$30K	$10K	20x	as long as short
Backpack kPEPE_USDC_PERP	+0.0385%	1h	0.000004809	−0.046%	$100K	$621K	15x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004818	+0.139%	$589K	$25.4M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0474%	8h	0.000004811	−0.008%	$2.3M	$6.3M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0545%	1h	0.000004807	−0.090%	$2K	$9K	10x	as long as short
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004820	+0.181%	$4K	$92K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0582%	1h	0.000004810	−0.027%	$81K	$94K	25x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0629%	1h	0.000004856	+0.929%	$100K	$758K	25x	as long as short
Nado kPEPE-PERP	+0.0659%	1h	0.000004813	+0.040%	$179K	$866K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0762%	1h	0.000004807	−0.083%	$3.9M	$12.9M	50x	as long as short
BingX 1000PEPE-USDC	+0.0766%	8h	0.000004809	−0.052%	—	$2.3M	—	as long as short
Aevo 1000PEPE-PERP	+0.0800%	1h	0.000004813	+0.035%	$136K	—	3x	as long as short
MEXC PEPE_USDT	+0.0807%	8h	0.000004813	+0.025%	$89.3M	$288.8M	300x	as long as short
Binance 1000PEPEUSDT	+0.0807%	8h	0.000004811	−0.008%	$127.5M	$1.01B	75x	as long as short
Extended 1000PEPE-USD	+0.0808%	1h	0.000004806	−0.108%	$529K	$146K	25x	as long as short
Aster 1000PEPEUSDTshort	+0.0853%	8h	0.000004808	−0.066%	$1.5M	$6.7M	50x
01 Exchange kPEPEUSD	+0.1264%	1h	0.000004823	+0.243%	$552	$2K	10x	as long as short