Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0070%/8h= −7.7% APRpaid last 24h −0.013%

Price spread now: Paradex against Nado−0.233%7-day average — · you buy dearer than you sell

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

Long on Nado Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropNado: Active · Paradex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Paradex is 0.233% cheaper against Nado than usual: you would sell low and buy high (−$23 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado kPEPE-PERP	0.000005064	0.0639	pay 0.0080% / 1h	21m 38s	$182K	$881K	10x
Short	Paradex kPEPE-USD-PERP	0.000005052	0.0569	get 0.0569% / 8h	6h 21m	$6K	$16	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.233%Rate

Funding earned: −$14.71
Price spread: −0.233% → 0.000%: −$23.34
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$49.05
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Nado: live order book, 47 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 Nado live order book, 47 min ago	1.97 bp	13.6 bp −$14	39.6 bp −$396	doesn't fit	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 34 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	0.000005049	−0.299%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005052	−0.246%	$14K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005055	−0.181%	$61K	$125K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005060	−0.084%	$98.3M	$323.5M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005051	−0.260%	$161.5M	$70.9M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005056	−0.169%	$25.3M	$60.8M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005051	−0.252%	$46.9M	$160.9M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005092	+0.543%	$624K	$4.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005055	−0.184%	$34K	$414K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005066	+0.035%	$1K	$2.4M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005063	−0.027%	$568K	$3.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005063	−0.017%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0234%	8h	0.000005063	−0.023%	$45.2M	$569.2M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0279%	8h	0.000005055	−0.177%	$33K	$23K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0296%	1h	0.000005053	−0.220%	$106K	$746K	25x	as long as short
Phemex u1000PEPEUSDT	+0.0356%	8h	0.000005059	−0.096%	$2.4M	$7.0M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0424%	1h	0.000005066	+0.037%	$728K	$29.7M	50x	as long as short
BingX 1000PEPE-USDT	+0.0497%	8h	0.000005054	−0.193%	—	$259.0M	—	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0513% / S −0.0539%	1h	0.000005000	−1.267%	$56K	—	100x	as long as short
Extended 1000PEPE-USD	+0.0520%	1h	0.000005053	−0.220%	$557K	$199K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0520%	1h	0.000005094	+0.589%	$144K	—	3x	as long as short
MEXC PEPE_USDT	+0.0523%	8h	0.000005055	−0.181%	$94.6M	$290.9M	300x	as long as short
Binance 1000PEPEUSDT	+0.0523%	8h	0.000005065	+0.022%	$142.7M	$1.17B	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0541%	1h	0.000005059	−0.102%	$61K	$114K	25x	as long as short
SoDEX 1000PEPE-USD	+0.0564%	1h	0.000005060	−0.082%	$2K	$12K	10x	as long as short
Paradex kPEPE-USD-PERPshort	+0.0569%	8h	0.000005052	−0.233%	$6K	$16	20x
Aster 1000PEPEUSDT	+0.0621%	8h	0.000005055	−0.187%	$1.7M	$8.2M	50x	as long as short
Nado kPEPE-PERPlong	+0.0639%	1h	0.000005064	long leg	$182K	$881K	10x
Kraken Futures PF_PEPEUSD	+0.0823%	1h	0.000005058	−0.117%	$4.0M	$14.5M	50x	as long as short
Injective PEPE/USDC PERP	+0.0909%	1h	0.000005098	+0.668%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0933%	1h	0.000005060	−0.082%	$100K	$617K	15x	as long as short
01 Exchange kPEPEUSD	+0.0960%	1h	0.000005064	−0.003%	$1K	$2K	10x	as long as short
Lighter 1000PEPE	+0.1592%	1h	0.000005065	+0.017%	$1.1M	$7.4M	10x	as long as short
Hyperliquid kPEPE	+0.2189%	1h	0.000005062	−0.042%	$55.8M	$135.9M	10x	as long as short