Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0361%/8h= −39.6% APRpaid last 24h −0.061%

Price spread now: Paradex against Injective−0.926%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Paradex

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 airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Paradex is 0.926% cheaper against Injective than usual: you would sell low and buy high (−$93 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	Injective PEPE/USDC PERP	0.000005098	0.0909	pay 0.0114% / 1h	24m 00s	$4K	$102K	12x
Short	Paradex kPEPE-USD-PERP	0.000005051	0.0547	get 0.0547% / 8h	6h 24m	$6K	$16	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Injective. 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 InjectivebpFee ParadexbpOrdersPrice spread, now −0.926%Rate

Funding earned: −$75.87
Price spread: −0.926% → 0.000%: −$92.6
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$172.49
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Injective: live order book, 45 min ago; Paradex: 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 Injective live order book, 45 min ago	22.64 bp	59.9 bp −$60	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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 34 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-USD	0.0000%	1h	0.000005051	−0.930%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005043	−1.085%	$14K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005058	−0.785%	$61K	$125K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005052	−0.902%	$97.9M	$323.2M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005060	−0.745%	$161.5M	$70.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005051	−0.932%	$25.1M	$60.6M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005056	−0.822%	$46.8M	$160.8M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005092	−0.124%	$624K	$4.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005086	−0.237%	$34K	$413K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005056	−0.830%	$1K	$2.4M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005060	−0.743%	$570K	$3.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005053	−0.882%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0231%	8h	0.000005055	−0.843%	$45.1M	$567.7M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0278%	8h	0.000005053	−0.883%	$33K	$23K	20x	as long as short
Phemex u1000PEPEUSDT	+0.0319%	8h	0.000005067	−0.612%	$2.4M	$7.0M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0321%	1h	0.000005065	−0.647%	$107K	$746K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0424%	1h	0.000005056	−0.824%	$712K	$29.6M	50x	as long as short
BingX 1000PEPE-USDT	+0.0491%	8h	0.000005061	−0.730%	—	$259.0M	—	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0511% / S −0.0537%	1h	0.000005000	−1.922%	$56K	—	100x	as long as short
Extended 1000PEPE-USD	+0.0520%	1h	0.000005056	−0.824%	$557K	$199K	25x	as long as short
Binance 1000PEPEUSDT	+0.0523%	8h	0.000005059	−0.764%	$142.9M	$1.17B	75x	as long as short
MEXC PEPE_USDT	+0.0526%	8h	0.000005065	−0.643%	$94.9M	$290.7M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0528%	1h	0.000005059	−0.765%	$143K	—	3x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0542%	1h	0.000005055	−0.843%	$61K	$114K	25x	as long as short
Paradex kPEPE-USD-PERPshort	+0.0547%	8h	0.000005051	−0.926%	$6K	$16	20x
SoDEX 1000PEPE-USD	+0.0554%	1h	0.000005056	−0.824%	$2K	$12K	10x	as long as short
Aster 1000PEPEUSDT	+0.0618%	8h	0.000005060	−0.745%	$1.7M	$8.2M	50x	as long as short
Nado kPEPE-PERP	+0.0635%	1h	0.000005052	−0.909%	$181K	$881K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0823%	1h	0.000005061	−0.730%	$4.0M	$14.5M	50x	as long as short
Injective PEPE/USDC PERPlong	+0.0909%	1h	0.000005098	long leg	$4K	$102K	12x
Backpack kPEPE_USDC_PERP	+0.0927%	1h	0.000005063	−0.677%	$101K	$617K	15x	as long as short
01 Exchange kPEPEUSD	+0.0976%	1h	0.000005059	−0.765%	$1K	$2K	10x	as long as short
Lighter 1000PEPE	+0.1560%	1h	0.000005074	−0.471%	$1.1M	$7.4M	10x	as long as short
Hyperliquid kPEPE	+0.2212%	1h	0.000005072	−0.510%	$56.0M	$135.8M	10x	as long as short