Settings8H · net · $10k
LanguageThe language of the site
FundingPeriod funding rates are shown in
UnitsPercent or basis points
CostsCount taker fees and slippage in Net
SizePosition per leg used for Net and slippage
ExchangesWhich exchanges to include everywhere
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Funding arb · Price arb / Crypto

PEPE

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Backtest 30d
LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG
HyperliquidkPEPE
0.000004254+0.0100pay 0.0013% / 1h36m 28s$34.3M$21.1M10xLong Hyperliquid4% off
SHORT
PopdexkPEPEUSDT
0.000004200+0.0096get 0.0012% / 1h36m 28s$108K$229K50xShort Popdex
Price gap−1.269%
Funding gap−0.0004% /8h

Funding is ≈ 0 and the gap is 0.048% under its 7d average: the price leg works against you, −$5 on $10k if it goes back.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast
Funding−$1−0.0004% /8h now · paid −0.005% over the last 6 days (all we have)
Price−$5spread −1.269% now, avg −1.221% → −0.048% if it goes back
Costs−$380.375% of $10k · taker + slippage, in and out
Result−$43−0.43%+ Points / potential airdropHyperliquid: Season 2 · farm boardWhat the last 7D really paid, hour by hour → backtest

Funding history

you earnyou payavg
RANGE STATS · 7D
Average /8h—
Highest—
Lowest—
Paid you—

Short leg rate minus long leg rate, per 8h. Above zero: the pair pays you.

Price spread between the two exchanges

Popdex price against Hyperliquidnow
RANGE STATS · 7D
Now−1.269%
Average—
Range—
Wider than now—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

PEPE on 36 exchanges

lowest funding first

Before you open

4 ok · 2 to watch
  • OK: Fits both order books6.4 / 11.5 bp
    Entry at $10k a leg, taker fee + slippage. Closing costs about the same.
  • Note: Margin at max leverage$1,000 + $200
    Hyperliquid 10x, Popdex 50x. 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.
    Next 24h at the current rates, on $10k a leg: −$0.12Long Hyperliquid: 24 payments, −$3.00; short Popdex: 24 payments, +$2.88.
  • Watch: Gap narrower than usual−1.269% vs −1.221%
    Less room for the price leg to pay you. If it goes back to average, the short loses.
  • Watch: Short leg is thinner$108K vs $34.3M OI
    Popdex 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 · Popdex No
    Both exchanges let you trade without ID.

Profit calculator

both legs, in and out
Position, each leg
Hold for
Orders
Price spread
Funding rate
Funding earned−0.0003%/8h × 21 periods−$0.65
Price spread−1.269% → −1.221% (7d avg)−$4.81
Slippage, 4 orderslive order books−$22.13
Fee Hyperliquid bp × 2 orders−$9.00
Fee Popdex bp × 2 orders−$6.40
Net · 7 days · $10k−$42.99
Costs to cover0.375%Break-evennever at this rate
Slippage: Hyperliquid: live order book, 7 min ago; Popdex: live order book, 26 min ago

Cost to enter

taker + slippage from mid, one side
BUY · LONGHyperliquid1.176.4 bp−$68.5 bp−$8531.0 bp−$3,097doesn’t fit
SELL · SHORTPopdex7.0411.5 bp−$1159.0 bp−$590doesn’t fitdoesn’t fit

Closing costs about the same again.

Alert

PEPE news

posts that mention PEPE, from every exchangeSearch all news →
09-28 17:53PhoenixListingNow live on Phoenix: $SHIB - 10x leverage $PEPE - 10x leverage @PhoenixTrade on X ↗
09-24 15:00PhoenixListingnew market kPEPE ($PEPE) seen by our collector
09-23 09:30PhemexOtherBTC 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 ↗