Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0003%/8h= +0.4% APRpaid last 24h −0.057%

Price spread now: Phemex against Nado−0.064%7-day average +0.041% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$600.596% of the position

Long on Nado Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.071%−$7 on $10k

Price spread, last 4 days (all we have)+0.440%+$44 · spread now −0.064%, 7d avg +0.041%

Together, before fees+0.369%+ Points / potential airdropNado: Active · farm board+$37 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.105% cheaper against Nado than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado kPEPE-PERP	0.000005019	0.0868	pay 0.0109% / 1h	31m 37s	$181K	$870K	10x
Short	Phemex u1000PEPEUSDT	0.000005016	0.0872	get 0.0872% / 8h	5h 31m	$2.4M	$7.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.064%Rate

Funding earned: $0.69
Price spread: −0.064% → +0.041%: −$10.46
Slippage, 4 orders: −$40.64
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$69.4
Costs to cover: 0.596%
Break-even: 707.3 days

Slippage from Nado: live order book, 32 min ago; Phemex: 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, 32 min ago	3.94 bp	10.9 bp −$11	38.0 bp −$380	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	6.41 bp	22.7 bp −$23	31.1 bp −$311	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	0.000005016	−0.060%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005010	−0.183%	$14K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005020	+0.020%	$63K	$136K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005014	−0.100%	$98.0M	$337.1M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005014	−0.100%	$163.6M	$74.9M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005017	−0.030%	$25.6M	$62.4M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005018	−0.018%	$46.2M	$172.2M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005042	+0.449%	$681K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004991	−0.555%	$35K	$435K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005022	+0.062%	$1K	$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	0.000005014	−0.108%	$572K	$3.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005020	+0.011%	$8K	—	15x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0317%	8h	0.000005016	−0.052%	$33K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0321%	8h	0.000005014	−0.100%	$45.3M	$584.1M	50x	as long as short
BloFin PEPE-USDT	+0.0436%	8h	0.000005015	−0.080%	$4.3M	$25.1M	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0549%	1h	0.000005012	−0.139%	$61K	$114K	25x	as long as short
BingX 1000PEPE-USDC	+0.0575%	8h	0.000005014	−0.100%	—	$2.3M	—	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0576%	1h	0.000005019	0.000%	$910K	$31.2M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0577%	1h	0.000005014	−0.100%	$2K	$12K	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0586% / S −0.0912%	1h	0.000005000	−0.379%	$49K	—	100x	as long as short
Aevo 1000PEPE-PERP	+0.0608%	1h	0.000005004	−0.299%	$141K	—	3x	as long as short
MEXC PEPE_USDT	+0.0614%	8h	0.000005017	−0.032%	$94.5M	$289.1M	300x	as long as short
Binance 1000PEPEUSDT	+0.0614%	8h	0.000005018	−0.010%	$140.8M	$1.20B	75x	as long as short
Extended 1000PEPE-USD	+0.0616%	1h	0.000005019	+0.001%	$530K	$226K	25x	as long as short
Aster 1000PEPEUSDT	+0.0707%	8h	0.000005022	+0.066%	$1.8M	$9.1M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0769%	8h	0.000005012	−0.146%	$6K	—	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0860%	1h	0.000005059	+0.797%	$99K	$752K	25x	as long as short
Nado kPEPE-PERPlong	+0.0868%	1h	0.000005019	long leg	$181K	$870K	10x
Phemex u1000PEPEUSDTshort	+0.0872%	8h	0.000005016	−0.064%	$2.4M	$7.0M	50x
Backpack kPEPE_USDC_PERP	+0.0948%	1h	0.000005019	+0.004%	$94K	$625K	15x	as long as short
01 Exchange kPEPEUSD	+0.0968%	1h	0.000005023	+0.080%	$606	$3K	10x	as long as short
Injective PEPE/USDC PERP	+0.0973%	1h	0.000005105	+1.713%	$4K	$102K	12x	as long as short
Lighter 1000PEPE	+0.1328%	1h	0.000005026	+0.139%	$696K	$8.0M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1388%	1h	0.000005013	−0.122%	$4.2M	$15.1M	50x	as long as short
Hyperliquid kPEPE	+0.1736%	1h	0.000005029	+0.199%	$53.6M	$139.2M	10x	as long as short