Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: HTX against dYdX+0.337%7-day average — · you sell dearer than you buy

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

Long on dYdX Short on HTX

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

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and HTX is 0.337% dearer against dYdX than usual: you sell high and buy low: +$34 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX PEPE-USD	0.000005139	0	get 0.0000% / 1h	23m 26s	$19K	$95	10x
Short	HTX PEPE-USDT	0.000005156	0.0100	get 0.0100% / 8h	4h 23m	$586K	$3.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.337%Rate

Funding earned: $21
Price spread: +0.337% → 0.000%: $33.71
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: $32.71
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: dYdX: no order-book sample; HTX: live order book, just now. 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 HTX live order book, just now	13.40 bp	19.9 bp −$20	29.8 bp −$298	103.8 bp −$10.4K	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	0.000005139	long leg	$19K	$95	10x
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005151	+0.226%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005149	+0.193%	$66K	$144K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005146	+0.137%	$100.0M	$357.3M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005140	+0.018%	$167.5M	$81.1M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005150	+0.207%	$26.1M	$65.2M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005200	+1.177%	$761K	$4.8M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005189	+0.966%	$42K	$463K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005165	+0.499%	$1K	$2.5M	20x	as long as short
HTX PEPE-USDTshort	+0.0100%	8h	0.000005156	+0.337%	$586K	$3.7M	75x

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005137	−0.043%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0203%	8h	0.000005134	−0.107%	$47.5M	$179.3M	75x	as long as short
Injective PEPE/USDC PERP	+0.0254%	1h	0.000005173	+0.660%	$3K	$102K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0348%	8h	0.000005158	+0.364%	$34K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0380%	8h	0.000005155	+0.310%	$48.5M	$626.1M	50x	as long as short
BloFin PEPE-USDT	+0.0498%	8h	0.000005166	+0.524%	$4.4M	$26.4M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0607%	8h	0.000005160	+0.405%	$2.6M	$7.3M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0672%	1h	0.000005161	+0.427%	$941K	$33.7M	50x	as long as short
BingX 1000PEPE-USDT	+0.0701%	8h	0.000005150	+0.209%	—	$262.8M	—	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0721%	1h	0.000005155	+0.310%	$73K	$125K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0736%	1h	0.000005148	+0.174%	$146K	—	3x	as long as short
MEXC PEPE_USDT	+0.0741%	8h	0.000005149	+0.191%	$98.4M	$290.9M	300x	as long as short
Binance 1000PEPEUSDT	+0.0741%	8h	0.000005155	+0.306%	$148.3M	$1.26B	75x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0742%	1h	0.000005185	+0.894%	$103K	$744K	25x	as long as short
Extended 1000PEPE-USD	+0.0744%	1h	0.000005152	+0.247%	$546K	$226K	25x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0774% / S −0.1542%	1h	0.000005000	−2.706%	$63K	—	100x	as long as short
Paradex kPEPE-USD-PERP	+0.0799%	8h	0.000005151	+0.233%	$6K	—	20x	as long as short
SoDEX 1000PEPE-USD	+0.0804%	1h	0.000005160	+0.407%	$2K	$10K	10x	as long as short
Lighter 1000PEPE	+0.0840%	1h	0.000005149	+0.193%	$592K	$8.3M	10x	as long as short
Aster 1000PEPEUSDT	+0.0845%	8h	0.000005152	+0.249%	$1.9M	$9.6M	50x	as long as short
Nado kPEPE-PERP	+0.0890%	1h	0.000005150	+0.220%	$190K	$898K	10x	as long as short
01 Exchange kPEPEUSD	+0.1136%	1h	0.000005154	+0.290%	$622	$3K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.1164%	1h	0.000005164	+0.485%	$98K	$665K	15x	as long as short
Kraken Futures PF_PEPEUSD	+0.1263%	1h	0.000005159	+0.382%	$4.6M	$15.9M	50x	as long as short
Hyperliquid kPEPE	+0.1588%	1h	0.000005158	+0.368%	$55.6M	$141.9M	10x	as long as short