Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0277%/8h= +30.3% APRpaid last 24h +0.044%

Price spread now: Orderly against dYdX+0.021%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 Orderly

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 +$8 a day on $10k at the current rate, and Orderly is 0.021% dearer against dYdX than usual: you sell high and buy low: +$2 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	0.000005107	0	get 0.0000% / 1h	26m 32s	$19K	$95	10x
Short	Orderly PERP_1000PEPE_USDC	0.000005108	0.0277	get 0.0277% / 8h	6h 26m	$34K	$23K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.021%Rate

Funding earned: $58.09
Price spread: +0.021% → 0.000%: $2.09
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $44.18
Costs to cover: 0.160%
Break-even: 1.7 days

Slippage unknown: dYdX: no order-book sample; Orderly: 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 dYdX no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

dYdX and Orderly: 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 34 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	0.000005107	long leg	$19K	$95	10x
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005101	−0.104%	$14K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005113	+0.125%	$62K	$125K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005097	−0.189%	$99.0M	$323.1M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005110	+0.066%	$162.8M	$70.7M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005112	+0.107%	$25.3M	$60.3M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005118	+0.227%	$47.4M	$160.5M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005030	−1.506%	$565K	$4.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005065	−0.810%	$27K	$406K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005114	+0.136%	$2K	$2.4M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005103	−0.069%	$575K	$3.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005107	+0.015%	$8K	—	15x	as long as short
Phemex u1000PEPEUSDT	+0.0215%	8h	0.000005098	−0.173%	$2.4M	$6.9M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0230%	8h	0.000005101	−0.110%	$45.4M	$571.5M	50x	as long as short
Orderly PERP_1000PEPE_USDCshort	+0.0277%	8h	0.000005108	+0.021%	$34K	$23K	20x
ApeX Omni 1000PEPEUSDT	+0.0321%	1h	0.000005065	−0.815%	$107K	$746K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0424%	1h	0.000005110	+0.066%	$661K	$29.5M	50x	as long as short
BingX 1000PEPE-USDC	+0.0479%	8h	0.000005114	+0.144%	—	$2.3M	—	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0509% / S −0.0477%	1h	0.000005000	−2.088%	$60K	—	100x	as long as short
Aevo 1000PEPE-PERP	+0.0512%	1h	0.000005108	+0.027%	$144K	—	3x	as long as short
Extended 1000PEPE-USD	+0.0520%	1h	0.000005116	+0.190%	$563K	$199K	25x	as long as short
MEXC PEPE_USDT	+0.0520%	8h	0.000005112	+0.097%	$95.9M	$290.4M	300x	as long as short
Binance 1000PEPEUSDT	+0.0526%	8h	0.000005107	+0.005%	$144.3M	$1.17B	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0548%	8h	0.000005110	+0.072%	$6K	$16	20x	as long as short
Nado kPEPE-PERP	+0.0595%	1h	0.000005104	−0.047%	$183K	$881K	10x	as long as short
SoDEX 1000PEPE-USD	+0.0620%	1h	0.000005104	−0.052%	$2K	$12K	10x	as long as short
Aster 1000PEPEUSDT	+0.0629%	8h	0.000005115	+0.156%	$1.7M	$8.1M	50x	as long as short
Kraken Futures PF_PEPEUSD	+0.0816%	1h	0.000005102	−0.087%	$4.0M	$14.5M	50x	as long as short
Injective PEPE/USDC PERP	+0.0909%	1h	0.000005070	−0.717%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0933%	1h	0.000005109	+0.046%	$103K	$616K	15x	as long as short
01 Exchange kPEPEUSD	+0.0984%	1h	0.000005117	+0.203%	$1K	$2K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.1122%	1h	0.000005108	+0.027%	$62K	$114K	25x	as long as short
Lighter 1000PEPE	+0.1512%	1h	0.000005122	+0.301%	$1.1M	$7.4M	10x	as long as short
Hyperliquid kPEPE	+0.2243%	1h	0.000005127	+0.399%	$56.6M	$135.9M	10x	as long as short