Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against HTX−0.133%7-day average — · you buy dearer than you sell

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

Long on HTX 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 0.133% cheaper against HTX than usual: you would sell low and buy high (−$13 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	HTX PEPE-USDT	0.000005042	0.0100	pay 0.0100% / 8h	5h 14m	$573K	$3.6M	75x
Short	dYdX PEPE-USD	0.000005035	0	get 0.0000% / 1h	14m 57s	$18K	$95	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against HTX. 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 HTXbpFee dYdXbpOrdersPrice spread, now −0.133%Rate

Funding earned: −$21
Price spread: −0.133% → 0.000%: −$13.3
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$56.3
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 4 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 HTX live order book, 4 min ago	8.39 bp	14.8 bp −$15	37.8 bp −$378	133.9 bp −$13.4K	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
dYdX PEPE-USDshort	0.0000%	1h	0.000005035	−0.133%	$18K	$95	10x
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005030	−0.234%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005043	+0.016%	$64K	$139K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005036	−0.129%	$97.8M	$340.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005037	−0.103%	$164.8M	$75.5M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005037	−0.103%	$25.9M	$63.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005042	−0.014%	$687K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005013	−0.586%	$27K	$445K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005043	+0.010%	$2K	$2.4M	20x	as long as short
HTX PEPE-USDTlong	+0.0100%	8h	0.000005042	long leg	$573K	$3.6M	75x

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PEPEUSDT	+0.0126%	8h	0.000005038	−0.081%	$46.2M	$173.0M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005038	−0.080%	$8K	—	15x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0318%	8h	0.000005040	−0.044%	$33K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0341%	8h	0.000005040	−0.044%	$45.7M	$589.4M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0346%	1h	0.000005037	−0.103%	$71K	$124K	25x	as long as short
BloFin PEPE-USDT	+0.0459%	8h	0.000005042	−0.004%	$4.4M	$25.2M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0559%	1h	0.000005038	−0.083%	$2K	$12K	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0576%	1h	0.000005038	−0.083%	$927K	$31.5M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0576%	1h	0.000005011	−0.619%	$99K	$755K	25x	as long as short
BingX 1000PEPE-USDT	+0.0605%	8h	0.000005036	−0.113%	—	$261.2M	—	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0624% / S −0.0996%	1h	0.000005000	−0.837%	$49K	—	100x	as long as short
MEXC PEPE_USDT	+0.0637%	8h	0.000005041	−0.018%	$95.8M	$290.2M	300x	as long as short
Binance 1000PEPEUSDT	+0.0640%	8h	0.000005041	−0.022%	$140.9M	$1.21B	75x	as long as short
Extended 1000PEPE-USD	+0.0640%	1h	0.000005041	−0.028%	$533K	$226K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0640%	1h	0.000005003	−0.777%	$141K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0737%	8h	0.000005039	−0.067%	$1.8M	$9.2M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0749%	8h	0.000005036	−0.121%	$2.4M	$7.1M	50x	as long as short
Nado kPEPE-PERP	+0.0785%	1h	0.000005039	−0.064%	$184K	$871K	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0805%	8h	0.000005040	−0.035%	$6K	—	20x	as long as short
01 Exchange kPEPEUSD	+0.0968%	1h	0.000005047	+0.095%	$609	$3K	10x	as long as short
Injective PEPE/USDC PERP	+0.0973%	1h	0.000005011	−0.619%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0978%	1h	0.000005040	−0.048%	$92K	$630K	15x	as long as short
Lighter 1000PEPE	+0.1216%	1h	0.000005042	−0.004%	$668K	$8.1M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1382%	1h	0.000005035	−0.139%	$4.3M	$15.2M	50x	as long as short
Hyperliquid kPEPE	+0.1608%	1h	0.000005044	+0.036%	$53.9M	$139.5M	10x	as long as short