Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0382%/8h= −41.8% APRpaid last 24h −0.087%

Price spread now: Orderly against Extended+0.061%7-day average — · you sell dearer than you buy

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

Long on Extended 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 airdropExtended: Active · farm boardneeds both histories

The price spread pays, funding is against you. Orderly is 0.061% dearer against Extended than usual: you sell high and buy low (spread +0.061% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 13 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended 1000PEPE-USD	0.000005126	0.0768	pay 0.0096% / 1h	37m 10s	$544K	$286K	25x
Short	Orderly PERP_1000PEPE_USDC	0.000005129	0.0386	get 0.0386% / 8h	1h 37m	$34K	$26K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Extended. 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 ExtendedbpFee OrderlybpOrdersPrice spread, now +0.061%Rate

Funding earned: −$80.19
Price spread: +0.061% → 0.000%: $6.13
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$85.06
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 6 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 Extended live order book, 6 min ago	2.91 bp	7.3 bp −$7	41.0 bp −$410	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
Injective PEPE/USDC PERP	−0.0016%	1h	0.000005141	+0.288%	$9K	$120K	12x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000005124	−0.042%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005129	+0.050%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005123	−0.064%	$59K	$181K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005108	−0.352%	$100.7M	$416.2M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005105	−0.415%	$163.1M	$96.6M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005110	−0.317%	$25.8M	$72.2M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005155	+0.553%	$615K	$5.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005136	+0.199%	$28K	$541K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005131	+0.085%	$1K	$2.6M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005127	+0.018%	$594K	$4.2M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0161%	1h	0.000005128	+0.034%	$2K	$11K	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005126	−0.003%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0295%	8h	0.000005108	−0.362%	$45.7M	$215.0M	75x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0347%	1h	0.000005157	+0.600%	$156K	$822K	25x	as long as short
Orderly PERP_1000PEPE_USDCshort	+0.0386%	8h	0.000005129	+0.061%	$34K	$26K	20x
Backpack kPEPE_USDC_PERP	+0.0391%	1h	0.000005113	−0.264%	$74K	$855K	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0412%	8h	0.000005109	−0.337%	$47.8M	$722.3M	50x	as long as short
Kraken Futures PF_PEPEUSD	+0.0455%	1h	0.000005126	−0.010%	$4.6M	$16.9M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0511%	8h	0.000005120	−0.119%	$6K	—	20x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0531%	1h	0.000005126	−0.005%	$73K	$127K	25x	as long as short
BloFin PEPE-USDT	+0.0541%	8h	0.000005115	−0.220%	$4.5M	$29.4M	75x	as long as short
Lighter 1000PEPE	+0.0560%	1h	0.000005113	−0.259%	$610K	$9.0M	10x	as long as short
Phemex u1000PEPEUSDT	+0.0597%	8h	0.000005120	−0.120%	$2.4M	$8.0M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0624%	1h	0.000005125	−0.025%	$672K	$38.6M	50x	as long as short
01 Exchange kPEPEUSD	+0.0672%	1h	0.000005129	+0.054%	$619	$3K	10x	as long as short
Nado kPEPE-PERP	+0.0733%	1h	0.000005131	+0.085%	$163K	$957K	10x	as long as short
BingX 1000PEPE-USDT	+0.0734%	8h	0.000005109	−0.337%	—	$217.5M	—	as long as short
Extended 1000PEPE-USDlong	+0.0768%	1h	0.000005126	long leg	$544K	$286K	25x
Aevo 1000PEPE-PERP	+0.0768%	1h	0.000005130	+0.073%	$145K	—	3x	as long as short
MEXC PEPE_USDT	+0.0769%	8h	0.000005110	−0.315%	$98.2M	$303.6M	300x	as long as short
Binance 1000PEPEUSDT	+0.0769%	8h	0.000005114	−0.248%	$141.0M	$1.46B	75x	as long as short
Aster 1000PEPEUSDT	+0.0775%	8h	0.000005118	−0.154%	$1.8M	$11.7M	50x	as long as short
Hyperliquid kPEPE	+0.0978%	1h	0.000005113	−0.259%	$54.4M	$155.0M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1132% / S −0.2257%	1h	0.000005000	−2.463%	$64K	—	100x	as long as short