Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0089%/8h= +9.8% APRpaid last 24h +0.027%

Price spread now: Reya against Gate−0.065%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 Reya

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.065% cheaper against Gate than usual: you would sell low and buy high (spread −0.065% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 2.4 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PEPE_USDT	0.000004952	0.0100	pay 0.0100% / 8h	5h 57m	$153.2M	$101.3M	75x
Short	Reya kPEPERUSDPERP	0.000004949	0.0189	get 0.0024% / 1h	57m 28s	$7K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.065%Rate

Funding earned: $18.73
Price spread: −0.065% → 0.000%: −$6.5
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Reya: 3 bp × 2 orders: −$6
Net: −$8.77
Costs to cover: 0.210%
Break-even: 10.3 days

Slippage unknown: Gate: live order book, 5 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 Gate live order book, 5 min ago	2.01 bp	12.1 bp −$12	18.7 bp −$187	69.1 bp −$6,915	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 exchanges

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
Kraken Futures PF_PEPEUSD	−0.0370%	1h	0.000004954	+0.032%	$4.6M	$16.5M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004956	+0.071%	$25K	$18K	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000004956	+0.089%	$3K	—	150x	as long as short
Lighter 1000PEPE	+0.0096%	1h	0.000004959	+0.141%	$596K	$9.0M	10x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004953	+0.020%	$50.1M	$156.1M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004957	+0.101%	$57K	$195K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004953	+0.010%	$94.1M	$441.0M	50x	as long as short
Gate PEPE_USDTlong	+0.0100%	8h	0.000004952	long leg	$153.2M	$101.3M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004951	−0.012%	$25.0M	$75.6M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004951	−0.024%	$45.1M	$224.0M	75x	as long as short

Show all 35 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack kPEPE_USDC_PERP	+0.0100%	1h	0.000004954	+0.032%	$76K	$988K	15x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004972	+0.411%	$646K	$5.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004974	+0.446%	$27K	$571K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004977	+0.505%	$144K	$851K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004967	+0.299%	$1K	$2.5M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004956	+0.081%	$2K	$11K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004961	+0.190%	$582K	$4.2M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000004959	+0.143%	$2.3M	$8.0M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0112%	8h	0.000004955	+0.061%	$6K	—	20x	as long as short
01 Exchange kPEPEUSD	+0.0120%	1h	0.000004955	+0.061%	$598	$2K	10x	as long as short
OKX PEPE-USDT-SWAP	+0.0149%	8h	0.000004955	+0.061%	$44.6M	$721.7M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0154%	1h	0.000004956	+0.081%	$57K	$115K	25x	as long as short
Reya kPEPERUSDPERPshort	+0.0189%	1h	0.000004949	−0.065%	$7K	—	15x
Nado kPEPE-PERP	+0.0203%	1h	0.000004956	+0.087%	$136K	$936K	10x	as long as short
BloFin PEPE-USDT	+0.0274%	8h	0.000004975	+0.464%	$4.3M	$28.8M	75x	as long as short
Injective PEPE/USDC PERP	+0.0284%	1h	0.000004983	+0.626%	$5K	$122K	12x	as long as short
Binance 1000PEPEUSDT	+0.0301%	8h	0.000004955	+0.054%	$128.1M	$1.52B	75x	as long as short
Aster 1000PEPEUSDT	+0.0304%	8h	0.000004953	+0.012%	$1.8M	$12.4M	50x	as long as short
Extended 1000PEPE-USD	+0.0304%	1h	0.000004955	+0.068%	$522K	$285K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0304%	1h	0.000004958	+0.121%	$140K	—	3x	as long as short
MEXC PEPE_USDT	+0.0307%	8h	0.000004952	−0.004%	$101.6M	$294.4M	300x	as long as short
BingX 1000PEPE-USDT	+0.0310%	8h	0.000004953	+0.028%	—	$180.9M	—	as long as short
Orderly PERP_1000PEPE_USDC	+0.0352%	8h	0.000004952	+0.004%	$32K	$30K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004957	+0.101%	$691K	$38.5M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0839% / S −0.0953%	1h	0.000004000	−19.225%	$51K	—	100x	as long as short