Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0811%/8h= +88.8% APRpaid last 24h +0.015%

Price spread now: MEXC against dYdX+0.193%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 MEXC

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 +$24 a day on $10k at the current rate, and MEXC is 0.193% dearer against dYdX than usual: you sell high and buy low: +$19 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	0.000004813	0	get 0.0000% / 1h	29m 28s	$18K	$95	10x
Short	MEXC PEPE_USDT	0.000004822	0.0811	get 0.0811% / 8h	1h 29m	$91.2M	$284.3M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.193%Rate

Funding earned: $170.31
Price spread: +0.193% → 0.000%: $19.28
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $179.59
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: dYdX: no order-book sample; MEXC: live order book, 5 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 MEXC live order book, 5 min ago	0.10 bp	1.3 bp −$1	13.4 bp −$134	47.5 bp −$4,754	80.5 bp −$40.2K

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	0.000004813	long leg	$18K	$95	10x
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004818	+0.108%	$14K	—	150x	as long as short
Lighter 1000PEPE	+0.0096%	1h	0.000004817	+0.085%	$574K	$5.6M	10x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004815	+0.043%	$62.3M	$79.5M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004814	+0.022%	$60K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004816	+0.064%	$87.1M	$280.7M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004812	−0.019%	$149.8M	$62.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004819	+0.122%	$24.8M	$54.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004818	+0.103%	$574K	$4.0M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004832	+0.391%	$27K	$344K	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	0.000004817	+0.078%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004810	−0.061%	$2K	$11K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004812	−0.025%	$544K	$3.5M	75x	as long as short
Bitget PEPEUSDT	+0.0143%	8h	0.000004819	+0.124%	$42.4M	$151.7M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004820	+0.150%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0203%	8h	0.000004820	+0.147%	$41.8M	$492.1M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0212% / S −0.0092%	1h	0.000004000	−16.890%	$54K	—	100x	as long as short
BloFin PEPE-USDT	+0.0325%	8h	0.000004819	+0.126%	$3.9M	$22.1M	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0348%	8h	0.000004815	+0.050%	$5K	$16	20x	as long as short
Phemex u1000PEPEUSDT	+0.0395%	8h	0.000004818	+0.105%	$2.3M	$6.4M	50x	as long as short
01 Exchange kPEPEUSD	+0.0432%	1h	0.000004823	+0.209%	$552	$2K	10x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0445%	8h	0.000004811	−0.042%	$29K	$11K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0448%	1h	0.000004814	+0.022%	$594K	$25.6M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0573%	1h	0.000004811	−0.038%	$92K	$615K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0582%	1h	0.000004810	−0.061%	$81K	$94K	25x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0656%	1h	0.000004829	+0.334%	$103K	$764K	25x	as long as short
Nado kPEPE-PERP	+0.0742%	1h	0.000004819	+0.125%	$186K	$855K	10x	as long as short
BingX 1000PEPE-USDC	+0.0799%	8h	0.000004813	+0.004%	—	$2.3M	—	as long as short
Extended 1000PEPE-USD	+0.0808%	1h	0.000004821	+0.162%	$529K	$148K	25x	as long as short
MEXC PEPE_USDTshort	+0.0811%	8h	0.000004822	+0.193%	$91.2M	$284.3M	300x
Binance 1000PEPEUSDT	+0.0811%	8h	0.000004821	+0.160%	$130.6M	$1.04B	75x	as long as short
Aevo 1000PEPE-PERP	+0.0824%	1h	0.000004818	+0.105%	$136K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0830%	8h	0.000004814	+0.014%	$1.5M	$7.0M	50x	as long as short
Injective PEPE/USDC PERP	+0.0873%	1h	0.000004825	+0.251%	$4K	$103K	12x	as long as short
Kraken Futures PF_PEPEUSD	+0.1326%	1h	0.000004809	−0.079%	$3.9M	$13.3M	50x	as long as short