Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0078%/8h= +8.5% APRpaid last 24h −0.025%

Price spread now: BingX against Nado+0.058%7-day average −0.007% · 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−$34as in the Price arb table

costs, in and out, $10k−$400.402% of the position

Long on Nado Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.022%−$2 on $10k

Price spread, last 3 days (all we have)−0.131%−$13 · spread now +0.058%, 7d avg −0.007%

Together, before fees−0.153%+ Points / potential airdropNado: Active · farm board−$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and BingX is 0.065% dearer against Nado than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado kPEPE-PERP	0.000004805	0.0696	pay 0.0087% / 1h	29m 54s	$179K	$859K	10x
Short	BingX 1000PEPE-USDT	0.000004808	0.0774	get 0.0774% / 8h	2h 29m	—	$254.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Nado. 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 NadobpFee BingXbpOrdersPrice spread, now +0.058%Rate

Funding earned: $16.39
Price spread: +0.058% → −0.007%: $6.46
Slippage, 4 orders: −$23.2
Fee Nado: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$17.35
Costs to cover: 0.402%
Break-even: 14.4 days

Slippage from Nado: live order book, 58 min ago; BingX: live order book, 4 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, 58 min ago	1.01 bp	10.7 bp −$11	25.7 bp −$257	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	4.87 bp	9.9 bp −$10	12.5 bp −$125	20.4 bp −$2,044	37.9 bp −$18.9K

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	0.000004800	−0.116%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004794	−0.236%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004797	−0.173%	$56.9M	$70.4M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004806	+0.014%	$59K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004801	−0.090%	$88.7M	$273.3M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004799	−0.132%	$149.1M	$61.9M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004800	−0.105%	$23.8M	$52.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004799	−0.126%	$702K	$3.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004815	+0.204%	$27K	$338K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004806	+0.024%	$2K	$2.4M	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	0.000004799	−0.138%	$553K	$3.6M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0135%	8h	0.000004805	−0.007%	$41.2M	$488.4M	50x	as long as short
Bitget PEPEUSDT	+0.0172%	8h	0.000004800	−0.107%	$43.1M	$152.2M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004802	−0.078%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0248%	8h	0.000004806	+0.014%	$3.9M	$21.7M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0318% / S −0.0217%	1h	0.000004000	−16.759%	$52K	—	100x	as long as short
Lighter 1000PEPE	+0.0360%	1h	0.000004800	−0.111%	$591K	$5.1M	10x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0382%	8h	0.000004799	−0.134%	$29K	$11K	20x	as long as short
Paradex kPEPE-USD-PERP	+0.0400%	8h	0.000004805	+0.001%	$5K	$16	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004801	−0.090%	$575K	$25.3M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0469%	8h	0.000004799	−0.140%	$2.3M	$6.3M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0522%	1h	0.000004798	−0.146%	$95K	$622K	15x	as long as short
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004809	+0.076%	$4K	$92K	12x	as long as short
Nado kPEPE-PERPlong	+0.0696%	1h	0.000004805	long leg	$179K	$859K	10x
SoDEX 1000PEPE-USD	+0.0714%	1h	0.000004798	−0.152%	$2K	$9K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0722%	1h	0.000004816	+0.222%	$100K	$759K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0763%	1h	0.000004798	−0.162%	$3.9M	$13.0M	50x	as long as short
BingX 1000PEPE-USDTshort	+0.0774%	8h	0.000004808	+0.058%	—	$254.9M	—
Deribit 1000PEPE_USDC-PERPETUAL	+0.0793%	1h	0.000004798	−0.152%	$81K	$94K	25x	as long as short
Extended 1000PEPE-USD	+0.0816%	1h	0.000004804	−0.028%	$526K	$147K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0816%	1h	0.000004808	+0.056%	$136K	—	3x	as long as short
MEXC PEPE_USDT	+0.0819%	8h	0.000004809	+0.070%	$90.5M	$290.0M	300x	as long as short
Binance 1000PEPEUSDT	+0.0820%	8h	0.000004808	+0.062%	$127.8M	$1.02B	75x	as long as short
Aster 1000PEPEUSDT	+0.0860%	8h	0.000004801	−0.095%	$1.5M	$6.8M	50x	as long as short
01 Exchange kPEPEUSD	+0.1232%	1h	0.000004813	+0.160%	$551	$2K	10x	as long as short