Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h +0.009%

Price spread now: edgeX against OKX−0.804%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$280.278% of the position

Long on OKX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.062%+$6 on $10k

Price spread, last 3 days (all we have)+0.959%+$96 · spread now −0.804%, 7d avg −0.005%

Together, before fees+1.021%+ Points / potential airdropedgeX: Active · farm board+$102 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and edgeX is 0.799% cheaper against OKX than usual: you would sell low and buy high (−$80 if the spread goes back to its 7-day average of −0.005%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.062%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PEPE-USDT-SWAP	0.000004857	0.0148	pay 0.0148% / 8h	2h 25m	$41.6M	$490.1M	50x
Short	edgeX 1000PEPEUSDC	0.000004818	0.0100	get 0.0050% / 4h	2h 25m	$27K	$337K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against OKX. 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 OKXbpFee edgeXbpOrdersPrice spread, now −0.804%Rate

Funding earned: −$10.09
Price spread: −0.804% → −0.005%: −$79.87
Slippage, 4 orders: −$8.8
Fee OKX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$117.76
Costs to cover: 0.278%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; edgeX: live order book, 63 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 OKX live order book, 4 min ago	1.04 bp	6.9 bp −$7	12.3 bp −$123	40.9 bp −$4,091	doesn't fit
Sell edgeX live order book, 63 min ago	0.92 bp	5.6 bp −$6	37.3 bp −$373	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	0.000004842	−0.313%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004845	−0.237%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004852	−0.103%	$57.8M	$71.0M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004851	−0.124%	$60K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004855	−0.041%	$88.3M	$274.1M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004852	−0.103%	$151.2M	$62.0M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004854	−0.051%	$25.1M	$53.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004837	−0.405%	$705K	$3.7M	—	as long as short
edgeX 1000PEPEUSDCshort	+0.0100%	4h	0.000004818	−0.804%	$27K	$337K	20x
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004860	+0.064%	$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	0.000004863	+0.124%	$560K	$3.5M	75x	as long as short
OKX PEPE-USDT-SWAPlong	+0.0148%	8h	0.000004857	long leg	$41.6M	$490.1M	50x
Bitget PEPEUSDT	+0.0178%	8h	0.000004854	−0.064%	$43.0M	$152.0M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004854	−0.058%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0267%	8h	0.000004859	+0.041%	$3.9M	$21.9M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0319% / S −0.0217%	1h	0.000004000	−17.645%	$53K	—	100x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0392%	8h	0.000004857	−0.008%	$30K	$11K	20x	as long as short
Paradex kPEPE-USD-PERP	+0.0449%	8h	0.000004850	−0.151%	$5K	$16	20x	as long as short
Lighter 1000PEPE	+0.0456%	1h	0.000004858	+0.021%	$620K	$5.2M	10x	as long as short
Phemex u1000PEPEUSDT	+0.0463%	8h	0.000004858	+0.016%	$2.3M	$6.3M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004856	−0.021%	$581K	$25.4M	50x	as long as short
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004847	−0.206%	$4K	$110K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0631%	1h	0.000004855	−0.037%	$93K	$623K	15x	as long as short
Nado kPEPE-PERP	+0.0682%	1h	0.000004864	+0.153%	$192K	$855K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0736%	1h	0.000004809	−0.988%	$100K	$760K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0754%	1h	0.000004855	−0.034%	$3.9M	$13.0M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0781%	1h	0.000004853	−0.082%	$82K	$94K	25x	as long as short
BingX 1000PEPE-USDT	+0.0787%	8h	0.000004858	+0.012%	—	$255.0M	—	as long as short
SoDEX 1000PEPE-USD	+0.0812%	1h	0.000004857	0.000%	$2K	$9K	10x	as long as short
Aevo 1000PEPE-PERP	+0.0832%	1h	0.000004887	+0.618%	$138K	—	3x	as long as short
MEXC PEPE_USDT	+0.0836%	8h	0.000004859	+0.041%	$91.3M	$290.6M	300x	as long as short
Binance 1000PEPEUSDT	+0.0845%	8h	0.000004858	+0.027%	$129.3M	$1.02B	75x	as long as short
Extended 1000PEPE-USD	+0.0848%	1h	0.000004855	−0.046%	$534K	$147K	25x	as long as short
Aster 1000PEPEUSDT	+0.0886%	8h	0.000004864	+0.136%	$1.5M	$6.8M	50x	as long as short
01 Exchange kPEPEUSD	+0.1256%	1h	0.000004880	+0.474%	$559	$2K	10x	as long as short