Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0530%/8h= −58.1% APRpaid last 24h −0.031%

Price spread now: Binance against Nado+0.102%7-day average +0.024% · 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−$31as in the Price arb table

costs, in and out, $10k−$390.391% of the position

Long on Nado Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.046%−$5 on $10k

Price spread, last 4 days (all we have)−0.091%−$9 · spread now +0.102%, 7d avg +0.024%

Together, before fees−0.136%+ Points / potential airdropNado: Active · farm board−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.078% dearer against Nado than usual: you sell high and buy low (spread +0.102% now, against its 7-day average of +0.024%): +$8 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 3 days (−0.046% in total) that is about 5.8 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.046% in total (about -4.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado kPEPE-PERP	0.000005252	0.1312	pay 0.0164% / 1h	58m 52s	$184K	$910K	10x
Short	Binance 1000PEPEUSDT	0.000005258	0.0781	get 0.0781% / 8h	3h 58m	$152.9M	$1.29B	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Nado. 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 NadobpFee BinancebpOrdersPrice spread, now +0.102%Rate

Funding earned: −$111.35
Price spread: +0.102% → +0.024%: $7.8
Slippage, 4 orders: −$22.09
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$142.64
Costs to cover: 0.391%
Break-even: never at this rate

Slippage from Nado: live order book, 60 min ago; Binance: live order book, 15 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 Nado live order book, 60 min ago	4.94 bp	12.6 bp −$13	38.4 bp −$384	doesn't fit	doesn't fit
Sell Binance live order book, 15 min ago	0.10 bp	7.3 bp −$7	13.5 bp −$135	45.8 bp −$4,584	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	0.000005243	−0.178%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005247	−0.108%	$15K	—	150x	as long as short
Injective PEPE/USDC PERP	+0.0092%	1h	0.000005255	+0.049%	$3K	$110K	12x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005262	+0.182%	$69K	$152K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005246	−0.121%	$102.5M	$365.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005249	−0.066%	$171.5M	$83.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005255	+0.049%	$27.0M	$66.5M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005245	−0.150%	$840K	$4.9M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005257	+0.089%	$38K	$492K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005259	+0.125%	$1K	$2.5M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005260	+0.148%	$610K	$3.8M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0146%	1h	0.000005249	−0.066%	$2K	$10K	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005254	+0.021%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0235%	8h	0.000005255	+0.039%	$48.4M	$183.2M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0368%	8h	0.000005257	+0.081%	$35K	$25K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0401%	8h	0.000005247	−0.104%	$50.8M	$654.4M	50x	as long as short
BloFin PEPE-USDT	+0.0523%	8h	0.000005247	−0.104%	$4.5M	$27.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0612%	8h	0.000005249	−0.069%	$2.6M	$7.4M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0703%	1h	0.000005252	−0.009%	$74K	$126K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0712%	1h	0.000005249	−0.066%	$771K	$35.5M	50x	as long as short
BingX 1000PEPE-USDC	+0.0729%	8h	0.000005251	−0.033%	—	$2.3M	—	as long as short
MEXC PEPE_USDT	+0.0781%	8h	0.000005259	+0.129%	$101.5M	$290.7M	300x	as long as short
Binance 1000PEPEUSDTshort	+0.0781%	8h	0.000005258	+0.102%	$152.9M	$1.29B	75x
Extended 1000PEPE-USD	+0.0784%	1h	0.000005253	+0.016%	$557K	$226K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0784%	1h	0.000005257	+0.087%	$149K	—	3x	as long as short
Paradex kPEPE-USD-PERP	+0.0805%	8h	0.000005264	+0.227%	$6K	—	20x	as long as short
Lighter 1000PEPE	+0.0824%	1h	0.000005253	+0.010%	$634K	$8.4M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0854% / S −0.1740%	1h	0.000005000	−4.806%	$64K	—	100x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0855%	1h	0.000005267	+0.277%	$179K	$746K	25x	as long as short
Aster 1000PEPEUSDT	+0.0903%	8h	0.000005253	+0.010%	$1.9M	$9.8M	50x	as long as short
01 Exchange kPEPEUSD	+0.1264%	1h	0.000005271	+0.353%	$636	$3K	10x	as long as short
Nado kPEPE-PERPlong	+0.1312%	1h	0.000005252	long leg	$184K	$910K	10x
Hyperliquid kPEPE	+0.1479%	1h	0.000005256	+0.068%	$57.1M	$143.4M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1556%	1h	0.000005249	−0.070%	$4.8M	$16.2M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.1627%	1h	0.000005252	−0.003%	$84K	$715K	15x	as long as short