Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0171%/8h= +18.7% APRpaid last 24h +0.014%

Price spread now: Orderly against edgeX+0.823%71s7-day average — · you sell dearer than you buy

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

Long on edgeX 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—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Orderly is 0.823% dearer against edgeX than usual: you sell high and buy low: +$82 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 71 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	edgeX 1000PEPEUSDC	0.000004981	0.0100	pay 0.0050% / 4h	2h 50m	$46K	$387K	20x
Short	Orderly PERP_1000PEPE_USDC	0.000005022	0.0271	get 0.0271% / 8h	6h 50m	$32K	$22K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against edgeX. 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 edgeXbpFee OrderlybpOrdersPrice spread, now +0.823%Rate

Funding earned: $35.91
Price spread: +0.823% → 0.000%: $82.33
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: $103.24
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: edgeX: live order book, 18 min ago; 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 edgeX live order book, 18 min ago	1.38 bp	6.0 bp −$6	8.4 bp −$84	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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 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-USD	0.0000%	1h	0.000005027	+0.929%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005012	+0.612%	$3K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005030	+0.984%	$59K	$122K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005022	+0.823%	$96.7M	$319.2M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005022	+0.823%	$159.5M	$69.4M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005026	+0.902%	$25.1M	$59.0M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005026	+0.896%	$44.7M	$158.2M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004998	+0.336%	$557K	$4.5M	—	as long as short
edgeX 1000PEPEUSDClong	+0.0100%	4h	0.000004981	long leg	$46K	$387K	20x
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004985	+0.080%	$106K	$751K	25x	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	0.000005023	+0.845%	$2K	$2.5M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005020	+0.783%	$556K	$3.6M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000005027	+0.918%	$2.4M	$6.8M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005022	+0.829%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0198%	8h	0.000005027	+0.924%	$44.4M	$555.5M	50x	as long as short
Orderly PERP_1000PEPE_USDCshort	+0.0271%	8h	0.000005022	+0.823%	$32K	$22K	20x
BloFin PEPE-USDT	+0.0317%	8h	0.000005011	+0.602%	$4.2M	$24.6M	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0374%	8h	0.000005021	+0.807%	$6K	$16	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0424%	1h	0.000005027	+0.924%	$620K	$28.7M	50x	as long as short
BingX 1000PEPE-USDC	+0.0444%	8h	0.000005027	+0.914%	—	$2.3M	—	as long as short
Aevo 1000PEPE-PERP	+0.0472%	1h	0.000005010	+0.582%	$142K	—	3x	as long as short
MEXC PEPE_USDT	+0.0475%	8h	0.000005028	+0.946%	$95.5M	$287.6M	300x	as long as short
Binance 1000PEPEUSDT	+0.0479%	8h	0.000005028	+0.936%	$139.3M	$1.15B	75x	as long as short
Extended 1000PEPE-USD	+0.0480%	1h	0.000005024	+0.869%	$552K	$199K	25x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0504% / S −0.0410%	1h	0.000005000	+0.382%	$63K	—	100x	as long as short
SoDEX 1000PEPE-USD	+0.0529%	1h	0.000005026	+0.904%	$2K	$12K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0548%	1h	0.000005019	+0.763%	$61K	$114K	25x	as long as short
Aster 1000PEPEUSDT	+0.0552%	8h	0.000005027	+0.926%	$1.7M	$8.0M	50x	as long as short
Nado kPEPE-PERP	+0.0601%	1h	0.000005026	+0.911%	$173K	$880K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0829%	1h	0.000005023	+0.837%	$3.9M	$14.4M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0848%	1h	0.000005027	+0.926%	$101K	$623K	15x	as long as short
01 Exchange kPEPEUSD	+0.0888%	1h	0.000005029	+0.964%	$1K	$2K	10x	as long as short
Injective PEPE/USDC PERP	+0.0909%	1h	0.000005010	+0.582%	$4K	$102K	12x	as long as short
Lighter 1000PEPE	+0.1264%	1h	0.000005033	+1.044%	$650K	$6.8M	10x	as long as short
Hyperliquid kPEPE	+0.2589%	1h	0.000005037	+1.124%	$55.7M	$134.7M	10x	as long as short