Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.012%

Price spread now: dYdX against Gate−0.110%7-day average — · you buy dearer than you sell

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

Long on Gate Short on dYdX

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 against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.110% cheaper against Gate than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PEPE_USDT	0.000004755	0.0100	pay 0.0100% / 8h	4m 16s	$150.7M	$65.1M	75x
Short	dYdX PEPE-USD	0.000004750	0	get 0.0000% / 1h	4m 16s	$17K	$95	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Gate. 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 GatebpFee dYdXbpOrdersPrice spread, now −0.110%Rate

Funding earned: −$21
Price spread: −0.110% → 0.000%: −$10.96
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$56.96
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 5 min ago; dYdX: 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 Gate live order book, 5 min ago	2.12 bp	11.4 bp −$11	15.6 bp −$156	57.9 bp −$5,792	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

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
Hyperliquid kPEPE	−0.0328%	1h	0.000004750	−0.105%	$68.8M	$99.3M	10x	as long as short
dYdX PEPE-USDshort	0.0000%	1h	0.000004750	−0.110%	$17K	$95	10x
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004754	−0.019%	$14K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0067%	1h	0.000004758	+0.061%	$3.8M	$13.9M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004753	−0.042%	$56K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004758	+0.059%	$87.2M	$295.3M	50x	as long as short
Gate PEPE_USDTlong	+0.0100%	8h	0.000004755	long leg	$150.7M	$65.1M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004760	+0.111%	$24.5M	$54.9M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004761	+0.130%	$42.0M	$151.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004725	−0.634%	$544K	$4.2M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004725	−0.636%	$25K	$351K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004720	−0.736%	$99K	$755K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004765	+0.217%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004759	+0.084%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004759	+0.076%	$538K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0165%	8h	0.000004761	+0.128%	$2.3M	$6.5M	50x	as long as short
Lighter 1000PEPE	+0.0176%	1h	0.000004761	+0.126%	$575K	$6.6M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0177%	8h	0.000004755	+0.010%	$5K	$16	20x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004757	+0.048%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0195%	8h	0.000004762	+0.147%	$42.3M	$499.4M	50x	as long as short
01 Exchange kPEPEUSD	+0.0312%	1h	0.000004759	+0.084%	$545	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0318%	8h	0.000004739	−0.336%	$3.9M	$22.3M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0345%	8h	0.000004756	+0.029%	$29K	$13K	20x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0394% / S −0.0432%	1h	0.000004000	−15.878%	$43K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004753	−0.042%	$558K	$25.6M	50x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004728	−0.568%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0532%	1h	0.000004761	+0.130%	$93K	$603K	15x	as long as short
BingX 1000PEPE-USDT	+0.0542%	8h	0.000004761	+0.122%	—	$257.4M	—	as long as short
Aster 1000PEPEUSDT	+0.0555%	8h	0.000004757	+0.044%	$1.5M	$7.3M	50x	as long as short
Extended 1000PEPE-USD	+0.0560%	1h	0.000004758	+0.057%	$521K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0560%	1h	0.000004762	+0.147%	$135K	—	3x	as long as short
MEXC PEPE_USDT	+0.0562%	8h	0.000004759	+0.093%	$89.9M	$283.7M	300x	as long as short
Binance 1000PEPEUSDT	+0.0563%	8h	0.000004762	+0.150%	$133.9M	$1.07B	75x	as long as short
Nado kPEPE-PERP	+0.0594%	1h	0.000004756	+0.018%	$180K	$849K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.1012%	1h	0.000004759	+0.084%	$77K	$98K	25x	as long as short