Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0074%/8h= −8.0% APRpaid last 24h +0.048%

Price spread now: Nado against MEXC+0.193%51s7-day average −0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$220.219% of the position

Long on MEXC Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.060%+$6 on $10k

Price spread, last 3 days (all we have)−0.162%−$16 · spread now +0.193%, 7d avg −0.026%

Together, before fees−0.101%+ Points / potential airdropNado: Active · farm board−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.219% dearer against MEXC than usual: you sell high and buy low (spread +0.193% now, against its 7-day average of −0.026%): +$22 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 10.0 days. Mind the row above: over the last 3 days funding on this pair paid +0.060%, so the current rate has only just turned against you. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PEPE_USDT	0.000004820	0.0806	pay 0.0806% / 8h	1h 27m	$91.6M	$284.4M	300x
Short	Nado kPEPE-PERP	0.000004829	0.0732	get 0.0092% / 1h	27m 46s	$186K	$855K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against MEXC. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 MEXCbpFee NadobpOrdersPrice spread, now +0.193%Rate

Funding earned: −$15.44
Price spread: +0.193% → −0.026%: $21.94
Slippage, 4 orders: −$14.91
Fee MEXC: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$15.4
Costs to cover: 0.219%
Break-even: from the start

Slippage from MEXC: live order book, 1 min ago; Nado: live order book, 56 min ago.

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 MEXC live order book, 1 min ago	0.10 bp	0.5 bp −$1	14.7 bp −$147	48.6 bp −$4,858	81.4 bp −$40.7K
Sell Nado live order book, 56 min ago	4.12 bp	8.6 bp −$9	26.8 bp −$268	doesn't fit	doesn't fit

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	0.000004812	−0.152%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004820	+0.008%	$14K	—	150x	as long as short
Lighter 1000PEPE	+0.0096%	1h	0.000004821	+0.027%	$573K	$5.6M	10x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004817	−0.056%	$62.5M	$79.9M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004818	−0.035%	$60K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004816	−0.066%	$87.3M	$281.1M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004819	−0.015%	$150.1M	$62.9M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004820	0.000%	$24.8M	$54.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004818	−0.037%	$574K	$4.0M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004832	+0.250%	$27K	$344K	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	0.000004832	+0.245%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004820	+0.006%	$3K	$11K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004823	+0.071%	$544K	$3.5M	75x	as long as short
Bitget PEPEUSDT	+0.0140%	8h	0.000004816	−0.075%	$42.4M	$151.9M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004827	+0.156%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0203%	8h	0.000004820	+0.006%	$41.9M	$492.6M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0212% / S −0.0091%	1h	0.000004000	−17.007%	$54K	—	100x	as long as short
BloFin PEPE-USDT	+0.0323%	8h	0.000004820	+0.006%	$3.9M	$22.2M	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0339%	8h	0.000004817	−0.065%	$5K	$16	20x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0373%	1h	0.000004822	+0.048%	$82K	$94K	25x	as long as short
Phemex u1000PEPEUSDT	+0.0382%	8h	0.000004820	+0.008%	$2.3M	$6.4M	50x	as long as short
01 Exchange kPEPEUSD	+0.0432%	1h	0.000004836	+0.338%	$554	$2K	10x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0446%	8h	0.000004824	+0.083%	$29K	$11K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0448%	1h	0.000004830	+0.214%	$602K	$25.8M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0602%	1h	0.000004821	+0.019%	$92K	$615K	15x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0656%	1h	0.000004829	+0.193%	$103K	$764K	25x	as long as short
Nado kPEPE-PERPshort	+0.0732%	1h	0.000004829	+0.193%	$186K	$855K	10x
BingX 1000PEPE-USDT	+0.0780%	8h	0.000004817	−0.062%	—	$256.2M	—	as long as short
Binance 1000PEPEUSDT	+0.0803%	8h	0.000004819	−0.011%	$130.6M	$1.04B	75x	as long as short
MEXC PEPE_USDTlong	+0.0806%	8h	0.000004820	long leg	$91.6M	$284.4M	300x
Extended 1000PEPE-USD	+0.0808%	1h	0.000004819	−0.015%	$529K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0808%	1h	0.000004825	+0.110%	$136K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0824%	8h	0.000004821	+0.027%	$1.5M	$7.0M	50x	as long as short
Injective PEPE/USDC PERP	+0.0873%	1h	0.000004825	+0.110%	$4K	$103K	12x	as long as short
Kraken Futures PF_PEPEUSD	+0.1324%	1h	0.000004818	−0.038%	$3.9M	$13.3M	50x	as long as short