Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0239%/8h= +26.1% APRpaid last 24h −0.047%

Price spread now: Paradex against Lighter−0.100%7-day average — · you buy dearer than you sell

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

Long on Lighter 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 airdropLighter: Season 3 · Paradex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.100% cheaper against Lighter than usual: you would sell low and buy high (spread −0.100% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 34 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter 1000PEPE	0.000004811	0.0096	pay 0.0012% / 1h	26m 37s	$578K	$5.6M	10x
Short	Paradex kPEPE-USD-PERP	0.000004806	0.0335	get 0.0335% / 8h	1h 26m	$5K	$16	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Lighter. 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 LighterbpFee ParadexbpOrdersPrice spread, now −0.100%Rate

Funding earned: $50.09
Price spread: −0.100% → 0.000%: −$10.04
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Paradex: 2 bp × 2 orders: −$4
Net: $36.05
Costs to cover: 0.040%
Break-even: 2.0 days

Slippage unknown: Lighter: live order book, 7 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 Lighter live order book, 7 min ago	3.10 bp	3.1 bp −$3	13.7 bp −$137	51.1 bp −$5,110	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 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-USD	0.0000%	1h	0.000004803	−0.162%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004814	+0.064%	$14K	—	150x	as long as short
Lighter 1000PEPElong	+0.0096%	1h	0.000004811	long leg	$578K	$5.6M	10x
Hyperliquid kPEPE	+0.0100%	1h	0.000004810	−0.021%	$62.6M	$80.0M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004810	−0.021%	$59K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004808	−0.060%	$87.2M	$281.2M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004811	0.000%	$149.8M	$63.0M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004812	+0.029%	$24.8M	$54.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004818	+0.143%	$574K	$4.0M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004819	+0.165%	$27K	$342K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004827	+0.339%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004822	+0.229%	$3K	$11K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004817	+0.123%	$543K	$3.5M	75x	as long as short
Bitget PEPEUSDT	+0.0138%	8h	0.000004809	−0.042%	$42.4M	$151.9M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004816	+0.112%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0207%	8h	0.000004812	+0.021%	$41.9M	$491.9M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0212% / S −0.0091%	1h	0.000004000	−16.857%	$54K	—	100x	as long as short
BloFin PEPE-USDT	+0.0323%	8h	0.000004823	+0.249%	$3.9M	$22.2M	75x	as long as short
Paradex kPEPE-USD-PERPshort	+0.0335%	8h	0.000004806	−0.100%	$5K	$16	20x
Phemex u1000PEPEUSDT	+0.0375%	8h	0.000004828	+0.347%	$2.3M	$6.4M	50x	as long as short
01 Exchange kPEPEUSD	+0.0424%	1h	0.000004813	+0.042%	$551	$2K	10x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0446%	8h	0.000004824	+0.272%	$29K	$11K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0448%	1h	0.000004822	+0.229%	$600K	$25.7M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0580%	1h	0.000004821	+0.208%	$81K	$94K	25x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0596%	1h	0.000004818	+0.145%	$102K	$763K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0597%	1h	0.000004821	+0.208%	$92K	$615K	15x	as long as short
Nado kPEPE-PERP	+0.0744%	1h	0.000004820	+0.196%	$186K	$855K	10x	as long as short
Binance 1000PEPEUSDT	+0.0797%	8h	0.000004815	+0.075%	$130.5M	$1.04B	75x	as long as short
BingX 1000PEPE-USDC	+0.0799%	8h	0.000004818	+0.135%	—	$2.3M	—	as long as short
Extended 1000PEPE-USD	+0.0800%	1h	0.000004810	−0.012%	$529K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0800%	1h	0.000004824	+0.270%	$136K	—	3x	as long as short
MEXC PEPE_USDT	+0.0803%	8h	0.000004802	−0.187%	$91.6M	$284.5M	300x	as long as short
Aster 1000PEPEUSDT	+0.0824%	8h	0.000004806	−0.106%	$1.5M	$7.1M	50x	as long as short
Injective PEPE/USDC PERP	+0.0873%	1h	0.000004833	+0.457%	$4K	$103K	12x	as long as short
Kraken Futures PF_PEPEUSD	+0.1323%	1h	0.000004820	+0.196%	$3.9M	$13.3M	50x	as long as short