Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0089%/8h= +9.7% APRpaid last 24h +0.018%

Price spread now: Reya against edgeX−0.552%55s7-day average — · you buy dearer than you sell

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

Long on edgeX Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 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 · Reya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.552% cheaper against edgeX than usual: you would sell low and buy high (spread −0.552% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$55 on $10k: about 21 days of funding at the current rate (+$3 a day). The two prices were read 55 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	0.000005025	0.0100	pay 0.0050% / 4h	2h 35m	$28K	$537K	20x
Short	Reya kPEPERUSDPERP	0.000004998	0.0189	get 0.0024% / 1h	35m 34s	$8K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.552%Rate

Funding earned: $18.68
Price spread: −0.552% → 0.000%: −$55.19
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Reya: 3 bp × 2 orders: −$6
Net: −$51.52
Costs to cover: 0.150%
Break-even: 26.3 days

Slippage unknown: edgeX: live order book, 13 min ago; Reya: 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, 13 min ago	0.99 bp	5.6 bp −$6	8.1 bp −$81	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	0.000005021	−0.091%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0001%	1h	0.000004994	−0.615%	$6K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005020	−0.105%	$57K	$177K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005021	−0.083%	$99.1M	$403.2M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005019	−0.125%	$162.1M	$93.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005017	−0.173%	$25.1M	$70.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004997	−0.568%	$599K	$5.4M	—	as long as short
edgeX 1000PEPEUSDClong	+0.0100%	4h	0.000005025	long leg	$28K	$537K	20x
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005006	−0.388%	$1K	$2.6M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005000	−0.513%	$560K	$4.1M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit 1000PEPE_USDC-PERPETUAL	+0.0150%	1h	0.000004996	−0.583%	$71K	$127K	25x	as long as short
SoDEX 1000PEPE-USD	+0.0153%	1h	0.000004997	−0.563%	$2K	$10K	10x	as long as short
Reya kPEPERUSDPERPshort	+0.0189%	1h	0.000004998	−0.552%	$8K	—	15x
Bitget PEPEUSDT	+0.0338%	8h	0.000005016	−0.179%	$45.2M	$209.6M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0407%	8h	0.000005001	−0.477%	$33K	$26K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0418%	8h	0.000005017	−0.165%	$46.2M	$683.7M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0535%	8h	0.000005019	−0.132%	$6K	—	20x	as long as short
BloFin PEPE-USDT	+0.0546%	8h	0.000005020	−0.105%	$4.4M	$27.9M	75x	as long as short
01 Exchange kPEPEUSD	+0.0648%	1h	0.000005014	−0.224%	$605	$3K	10x	as long as short
Phemex u1000PEPEUSDT	+0.0650%	8h	0.000005003	−0.441%	$2.4M	$7.9M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0658%	1h	0.000004997	−0.561%	$73K	$830K	15x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0680%	1h	0.000005014	−0.224%	$637K	$36.8M	50x	as long as short
Lighter 1000PEPE	+0.0704%	1h	0.000005021	−0.085%	$596K	$9.0M	10x	as long as short
Nado kPEPE-PERP	+0.0747%	1h	0.000005002	−0.457%	$165K	$941K	10x	as long as short
BingX 1000PEPE-USDT	+0.0769%	8h	0.000005017	−0.167%	—	$238.7M	—	as long as short
Binance 1000PEPEUSDT	+0.0799%	8h	0.000005019	−0.129%	$140.9M	$1.40B	75x	as long as short
Aevo 1000PEPE-PERP	+0.0800%	1h	0.000005004	−0.423%	$141K	—	3x	as long as short
MEXC PEPE_USDT	+0.0804%	8h	0.000005028	+0.062%	$96.8M	$301.0M	300x	as long as short
Extended 1000PEPE-USD	+0.0808%	1h	0.000005015	−0.208%	$530K	$277K	25x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0832%	1h	0.000004993	−0.642%	$153K	$813K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0855%	1h	0.000004994	−0.621%	$4.6M	$16.7M	50x	as long as short
Aster 1000PEPEUSDT	+0.0857%	8h	0.000005015	−0.203%	$1.8M	$11.1M	50x	as long as short
Hyperliquid kPEPE	+0.1033%	1h	0.000005021	−0.085%	$52.9M	$151.8M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1083% / S −0.2019%	1h	0.000004000	−20.402%	$63K	—	100x	as long as short
Injective PEPE/USDC PERP	+0.1379%	1h	0.000005034	+0.174%	$3K	$111K	12x	as long as short