Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0312%/8h= −34.1% APRpaid last 24h −0.049%

Price spread now: KuCoin against Nado+0.002%7-day average −0.018% · 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−$48as in the Price arb table

costs, in and out, $10k−$500.501% of the position

Long on Nado Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.065%−$7 on $10k

Price spread, last 3 days (all we have)−0.064%−$6 · spread now +0.002%, 7d avg −0.018%

Together, before fees−0.129%+ Points / potential airdropNado: Active · farm board−$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.018%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.065% in total (about -7.4% 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	0.000004952	0.0412	pay 0.0051% / 1h	32m 19s	$193K	$851K	10x
Short	KuCoin PEPEUSDTM	0.000004952	0.0100	get 0.0100% / 8h	7h 32m	$25.5M	$55.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.002%Rate

Funding earned: −$65.44
Price spread: +0.002% → −0.018%: $1.95
Slippage, 4 orders: −$31.14
Fee Nado: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$113.63
Costs to cover: 0.501%
Break-even: never at this rate

Slippage from Nado: live order book, 41 min ago; KuCoin: live order book, 2 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, 41 min ago	3.17 bp	11.2 bp −$11	28.8 bp −$288	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	0.81 bp	12.4 bp −$12	24.2 bp −$242	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
Kraken Futures PF_PEPEUSD	−0.0118%	1h	0.000004974	+0.460%	$4.0M	$13.9M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004944	−0.158%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004952	+0.010%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004944	−0.152%	$58K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004952	+0.004%	$90.8M	$301.7M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004948	−0.071%	$156.9M	$65.9M	75x	as long as short
KuCoin PEPEUSDTMshort	+0.0100%	8h	0.000004952	+0.002%	$25.5M	$55.9M	75x
Bitget PEPEUSDT	+0.0100%	8h	0.000004966	+0.282%	$43.4M	$151.9M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004921	−0.622%	$575K	$4.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004925	−0.541%	$26K	$353K	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	0.000004964	+0.250%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004970	+0.373%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004943	−0.178%	$559K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000004940	−0.241%	$2.4M	$6.6M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0183%	8h	0.000004962	+0.212%	$43.4M	$526.0M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004947	−0.098%	$7K	—	15x	as long as short
Paradex kPEPE-USD-PERP	+0.0203%	8h	0.000004947	−0.090%	$6K	$16	20x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0293%	8h	0.000004957	+0.102%	$30K	$13K	20x	as long as short
Lighter 1000PEPE	+0.0304%	1h	0.000004942	−0.192%	$579K	$6.7M	10x	as long as short
BloFin PEPE-USDT	+0.0306%	8h	0.000004937	−0.293%	$4.0M	$23.4M	75x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000004966	+0.292%	$598K	$26.9M	50x	as long as short
Hyperliquid kPEPE	+0.0399%	1h	0.000004955	+0.070%	$59.1M	$116.0M	10x	as long as short
Nado kPEPE-PERPlong	+0.0412%	1h	0.000004952	long leg	$193K	$851K	10x
ApeX Omni 1000PEPEUSDT	+0.0455%	1h	0.000004932	−0.394%	$102K	$754K	25x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0468% / S −0.0647%	1h	0.000004000	−19.217%	$48K	—	100x	as long as short
01 Exchange kPEPEUSD	+0.0472%	1h	0.000004947	−0.091%	$1K	$2K	10x	as long as short
BingX 1000PEPE-USDT	+0.0483%	8h	0.000004957	+0.107%	—	$256.9M	—	as long as short
Binance 1000PEPEUSDT	+0.0501%	8h	0.000004956	+0.081%	$139.3M	$1.09B	75x	as long as short
Extended 1000PEPE-USD	+0.0504%	1h	0.000004967	+0.314%	$546K	$148K	25x	as long as short
MEXC PEPE_USDT	+0.0504%	8h	0.000004952	+0.004%	$97.4M	$283.0M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0504%	1h	0.000004959	+0.151%	$140K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0527%	8h	0.000004945	−0.132%	$1.5M	$7.5M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0558%	1h	0.000004937	−0.297%	$94K	$601K	15x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000004942	−0.192%	$4K	$102K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0962%	1h	0.000004958	+0.131%	$71K	$107K	25x	as long as short