Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0361%/8h= +39.6% APRpaid last 24h +0.039%

Price spread now: OKX against dYdX+0.632%50s7-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 OKX

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 +$11 a day on $10k at the current rate, and OKX is 0.632% dearer against dYdX than usual: you sell high and buy low: +$63 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 50 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	dYdX PEPE-USD	0.000005055	0	get 0.0000% / 1h	43m 47s	$19K	$95	10x
Short	OKX PEPE-USDT-SWAP	0.000005087	0.0361	get 0.0361% / 8h	4h 43m	$45.6M	$601.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.632%Rate

Funding earned: $75.88
Price spread: +0.632% → 0.000%: $63.22
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $119.1
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: dYdX: no order-book sample; OKX: 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 OKX live order book, 5 min ago	1.00 bp	7.1 bp −$7	12.6 bp −$126	34.6 bp −$3,458	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	0.000005055	long leg	$19K	$95	10x
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005064	+0.173%	$14K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005064	+0.177%	$64K	$140K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005087	+0.624%	$99.6M	$345.7M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005082	+0.533%	$167.8M	$75.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005082	+0.533%	$26.3M	$63.8M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005034	−0.425%	$675K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005021	−0.680%	$31K	$452K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005074	+0.381%	$1K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005060	+0.100%	$576K	$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
Bitget PEPEUSDT	+0.0166%	8h	0.000005089	+0.670%	$46.4M	$174.9M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005069	+0.280%	$8K	—	15x	as long as short
Injective PEPE/USDC PERP	+0.0254%	1h	0.000005044	−0.218%	$3K	$102K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0332%	8h	0.000005073	+0.363%	$33K	$24K	20x	as long as short
OKX PEPE-USDT-SWAPshort	+0.0361%	8h	0.000005087	+0.632%	$45.6M	$601.1M	50x
BloFin PEPE-USDT	+0.0480%	8h	0.000005048	−0.139%	$4.4M	$25.3M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0625%	8h	0.000005079	+0.474%	$2.4M	$7.1M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0626%	1h	0.000005072	+0.336%	$2K	$12K	10x	as long as short
BingX 1000PEPE-USDC	+0.0635%	8h	0.000005087	+0.640%	—	$2.3M	—	as long as short
ApeX Omni 1000PEPEUSDT	+0.0663%	1h	0.000005021	−0.673%	$100K	$742K	25x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0666% / S −0.0917%	1h	0.000005000	−1.089%	$45K	—	100x	as long as short
Aevo 1000PEPE-PERP	+0.0672%	1h	0.000005059	+0.078%	$143K	—	3x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0672%	1h	0.000005057	+0.039%	$972K	$31.9M	50x	as long as short
MEXC PEPE_USDT	+0.0676%	8h	0.000005087	+0.634%	$93.2M	$287.2M	300x	as long as short
Binance 1000PEPEUSDT	+0.0676%	8h	0.000005091	+0.714%	$143.4M	$1.22B	75x	as long as short
Extended 1000PEPE-USD	+0.0680%	1h	0.000005083	+0.556%	$538K	$226K	25x	as long as short
Aster 1000PEPEUSDT	+0.0770%	8h	0.000005085	+0.599%	$1.8M	$9.2M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0793%	8h	0.000005060	+0.105%	$6K	—	20x	as long as short
Nado kPEPE-PERP	+0.0802%	1h	0.000005069	+0.274%	$192K	$877K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0850%	1h	0.000005083	+0.561%	$99K	$644K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0935%	1h	0.000005069	+0.276%	$72K	$124K	25x	as long as short
01 Exchange kPEPEUSD	+0.0944%	1h	0.000005077	+0.434%	$612	$3K	10x	as long as short
Lighter 1000PEPE	+0.0952%	1h	0.000005074	+0.375%	$580K	$8.2M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1284%	1h	0.000005071	+0.317%	$4.4M	$15.5M	50x	as long as short
Hyperliquid kPEPE	+0.1467%	1h	0.000005095	+0.791%	$54.6M	$140.2M	10x	as long as short