Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0648%/8h= −70.9% APRpaid last 24h −0.033%

Price spread now: SunX against Nado+0.070%7-day average +0.163% · 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−$155as in the Price arb table

costs, in and out, $10k−$1461.461% of the position

Long on Nado Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.047%−$5 on $10k

Price spread, last 3 days (all we have)+0.237%+$24 · spread now +0.070%, 7d avg +0.163%

Together, before fees+0.190%+ Points / potential airdropNado: Active · farm board+$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and SunX is 0.093% cheaper against Nado than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.163%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.047% in total (about -5.5% 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	0.000004813	0.0748	pay 0.0093% / 1h	29m 50s	$185K	$855K	10x
Short	SunX 1000PEPE-USDT	0.000004817	0.0100	get 0.0100% / 8h	1h 29m	$2K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.070%Rate

Funding earned: −$136.05
Price spread: +0.070% → +0.163%: −$9.27
Slippage, 4 orders: −$131.09
Fee Nado: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$291.42
Costs to cover: 1.461%
Break-even: never at this rate

Slippage from Nado: live order book, 54 min ago; SunX: live order book, 6 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, 54 min ago	4.12 bp	11.9 bp −$12	28.6 bp −$286	doesn't fit	doesn't fit
Sell SunX live order book, 6 min ago	29.18 bp	78.4 bp −$78	doesn't fit	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	0.000004808	−0.112%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004809	−0.086%	$14K	—	150x	as long as short
Lighter 1000PEPE	+0.0096%	1h	0.000004814	+0.014%	$573K	$5.6M	10x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004808	−0.111%	$62.2M	$79.4M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004813	−0.007%	$60K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004810	−0.061%	$87.0M	$280.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004808	−0.111%	$149.7M	$62.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004810	−0.063%	$24.7M	$54.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004818	+0.095%	$574K	$4.0M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004832	+0.383%	$27K	$344K	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-USDTshort	+0.0100%	8h	0.000004817	+0.070%	$2K	$2.4M	20x
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004810	−0.069%	$2K	$11K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004812	−0.034%	$544K	$3.5M	75x	as long as short
Bitget PEPEUSDT	+0.0145%	8h	0.000004811	−0.052%	$42.3M	$151.7M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004810	−0.073%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0203%	8h	0.000004814	+0.014%	$41.7M	$491.5M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0212% / S −0.0092%	1h	0.000004000	−16.897%	$54K	—	100x	as long as short
BloFin PEPE-USDT	+0.0325%	8h	0.000004819	+0.118%	$3.9M	$22.1M	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0352%	8h	0.000004814	+0.018%	$5K	$16	20x	as long as short
Phemex u1000PEPEUSDT	+0.0395%	8h	0.000004818	+0.097%	$2.3M	$6.4M	50x	as long as short
01 Exchange kPEPEUSD	+0.0432%	1h	0.000004815	+0.035%	$552	$2K	10x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0445%	8h	0.000004811	−0.050%	$29K	$11K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0448%	1h	0.000004814	+0.014%	$594K	$25.6M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0573%	1h	0.000004811	−0.046%	$92K	$615K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0582%	1h	0.000004810	−0.069%	$81K	$94K	25x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0656%	1h	0.000004829	+0.326%	$103K	$764K	25x	as long as short
Nado kPEPE-PERPlong	+0.0748%	1h	0.000004813	long leg	$185K	$855K	10x
BingX 1000PEPE-USDC	+0.0799%	8h	0.000004811	−0.048%	—	$2.3M	—	as long as short
Extended 1000PEPE-USD	+0.0808%	1h	0.000004813	−0.015%	$529K	$148K	25x	as long as short
Binance 1000PEPEUSDT	+0.0811%	8h	0.000004812	−0.024%	$130.3M	$1.04B	75x	as long as short
MEXC PEPE_USDT	+0.0815%	8h	0.000004811	−0.038%	$90.8M	$284.2M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0824%	1h	0.000004818	+0.097%	$136K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0837%	8h	0.000004815	+0.038%	$1.5M	$7.0M	50x	as long as short
Injective PEPE/USDC PERP	+0.0873%	1h	0.000004825	+0.243%	$4K	$103K	12x	as long as short
Kraken Futures PF_PEPEUSD	+0.1326%	1h	0.000004809	−0.087%	$3.9M	$13.3M	50x	as long as short