Funding arb · Price arb / Crypto

PEPE

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LONGHyperliquid▾Hyperliquid −0.1645%Kraken Futures −0.0587%Backpack −0.0576%ApeX Omni −0.0504%Bitget −0.0380%N1 −0.0288%Deribit −0.0199%Paradex −0.0136%Gate −0.0061%Lighter −0.0016%dYdX 0.0000%KuCoin +0.0053%AZverse +0.0074%Orderly +0.0075%Bybit +0.0082%Popdex +0.0096%Aevo +0.0096%Nado +0.0100%Aster +0.0100%Pacifica +0.0100%Binance +0.0100%OKX +0.0100%MEXC +0.0100%BingX +0.0100%Variational Omni +0.0100%edgeX +0.0100%GRVT +0.0100%SunX +0.0100%SoDEX +0.0100%HTX +0.0100%Phemex +0.0100%TxFlow +0.0100%Phoenix +0.0103%Extended +0.0104%BloFin +0.0220%gTrade (Gains Network) +0.0318%GMX +0.0432%Injective +0.0678%

⇄⇅

SHORTPolymarket Perps▾Injective +0.0678%GMX −0.0624%BloFin +0.0220%Extended +0.0104%Phoenix +0.0103%Aster +0.0100%Pacifica +0.0100%Binance +0.0100%OKX +0.0100%MEXC +0.0100%BingX +0.0100%Variational Omni +0.0100%edgeX +0.0100%GRVT +0.0100%SunX +0.0100%SoDEX +0.0100%HTX +0.0100%Phemex +0.0100%TxFlow +0.0100%Nado +0.0100%Popdex +0.0096%Aevo +0.0096%Bybit +0.0082%Orderly +0.0075%AZverse +0.0074%KuCoin +0.0053%dYdX 0.0000%Lighter −0.0016%gTrade (Gains Network) +0.0046%Gate −0.0061%Paradex −0.0136%Deribit −0.0199%N1 −0.0288%Bitget −0.0380%ApeX Omni −0.0504%Backpack −0.0576%Kraken Futures −0.0587%Polymarket Perps −0.1061%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	HyperliquidkPEPE	0.000004452	−0.1645	get 0.0206% / 1h	58m 40s	$72.0M	$192.3M	10x	Long Hyperliquid4% off
SHORT	Polymarket PerpsKPEPE-USD	0.000004453	−0.1061	pay 0.0133% / 1h	58m 40s	$195K	$594K	10x	Short Polymarket Perps

Price gap+0.022%

Funding gap+0.0584% /8h

Both sides work: funding pays +$18 a day on $10k, and the gap is 0.079% above its 7d average: +$8 more if it goes back.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid −0.226% in total, about −0.0108%/8h on average.

Price and funding

Entry / ExitPrice spreadPricesFundingLeg ratesP&L

1m5m15m1h

1h · history

24H3D7D14D30D90D

Entry / Exit?

Price spread?

Prices?

Funding?per 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now+0.022%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

HyperliquidPolymarket Perps

PEPE on 39 exchanges

lowest funding first

Before you open

5 ok · 1 to watch

• ✓
  OK: Fits both order books11.2 / 10.7 bp

  Entry at $10k a leg, taker fee + slippage. Closing costs about the same.
• i
  Note: Margin at max leverage$1,000 + $1,000

  Hyperliquid 10x, Polymarket Perps 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• ✓
  OK: Same payment interval1h / 1h

  Both legs pay at the same time.

  Long Hyperliquid · 1h+$49.35

  Short Polymarket Perps · 1h−$31.83

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: +$17.52Long Hyperliquid: 24 payments, +$49.35; short Polymarket Perps: 24 payments, −$31.83.
• ✓
  OK: Entry gap works for you+0.022% vs −0.056%

  You short the dearer leg. If the gap goes back to average, the short gains.
• !
  Watch: Short leg is thinner$195K vs $72.0M OI

  Polymarket Perps sets your exit cost. Check its book before closing.
• ✓
  OK: Points on a legHyperliquid Season 2

  Volume here counts toward the points program.
• ✓
  OK: No KYC on either legHyperliquid No · Polymarket Perps No

  Both exchanges let you trade without ID.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned−0.0108%/8h × 21 periods−$22.62

Price spread+0.022% → −0.056% (7d avg)+$7.85

Slippage, 4 orderslive order books−$50.73

Fee Hyperliquid bp × 2 orders−$9.00

Fee Polymarket Perps bp × 2 orders−$8.00

Net · 7 days · $10k−$82.49

Costs to cover0.677%Break-evennever at this rate

Slippage: Hyperliquid: live order book, 4 min ago; Polymarket Perps: live order book, 33 min ago

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGHyperliquid6.6911.2 bp−$1118.4 bp−$18445.6 bp−$4,557141.2 bp−$70.6K

SELL · SHORTPolymarket Perps6.6810.7 bp−$1136.7 bp−$367doesn’t fitdoesn’t fit

Closing costs about the same again.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

FundingPrice spread

I'm in

PEPE news

posts that mention PEPE, from every exchangeSearch all news →

10-28 16:00	OKX	Other	Europe, your next X Drops basket is here. ZEC, NEAR, SUI, TAO, PEPE, WLD, LINK, PUMP, ONDO and ZAMA are in, with 3.4M $ZAMA up for grabs. Trade @zama for 3× rewards. @okx on X ↗
10-22 06:00	KuCoin	Other	Fresh out of the oven: the coin cookie tray 🍪 BTC, ETH, SOL, DOGE, PEPE and more. Which one are you reaching for? Register and complete your first trade for a chance to share 5,000 USDT, up to 100 USDT each. Grab yours 👉 #FoodForYourThought #KuFood #KuCoin @kucoincom on X ↗
09-28 17:53	Phoenix	Listing	Now live on Phoenix: $SHIB - 10x leverage $PEPE - 10x leverage @PhoenixTrade on X ↗
09-24 15:00	Phoenix	Listing	new market kPEPE ($PEPE) seen by our collector
09-23 09:30	Phemex	Other	BTC is green. But the alts are doing the talking. $XRP +9.11% $PEPE +18.55% $ZEC +6.56% $NEAR +4.14% 👀 What are you watching? The next 100x gems? Comments below👇 @Phemex_official on X ↗