Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0644%/8h= +70.6% APRpaid last 24h +0.108%

Price spread now: 01 Exchange against Orderly−0.064%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. 01 Exchange is 0.064% cheaper against Orderly than usual: you would sell low and buy high (spread −0.064% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 8 hours of funding at the current rate (+$19 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_1000PEPE_USDC	0.000005314	0.0388	pay 0.0388% / 8h	3h 30m	$36K	$26K	20x
Short	01 Exchange kPEPEUSD	0.000005311	0.1032	get 0.0129% / 1h	30m 52s	$641	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange against Orderly. 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 OrderlybpFee 01 ExchangebpOrdersPrice spread, now −0.064%Rate

Funding earned: $135.32
Price spread: −0.064% → 0.000%: −$6.4
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: $115.93
Costs to cover: 0.130%
Break-even: 1.0 days

Slippage unknown: Orderly: no order-book sample; 01 Exchange: 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 Orderly no order-book sample	—	—	—	—	—
Sell 01 Exchange no order-book sample	—	—	—	—	—

Orderly and 01 Exchange: 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 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	0.000005277	−0.702%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005311	−0.073%	$15K	—	150x	as long as short
Injective PEPE/USDC PERP	+0.0092%	1h	0.000005327	+0.237%	$3K	$111K	12x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005288	−0.497%	$70K	$155K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005306	−0.158%	$107.9M	$378.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005308	−0.120%	$175.9M	$87.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005318	+0.060%	$26.6M	$68.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005312	−0.053%	$747K	$5.1M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005295	−0.358%	$53K	$509K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005321	+0.128%	$2K	$2.5M	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	0.000005317	+0.055%	$608K	$3.9M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005314	−0.011%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0287%	8h	0.000005311	−0.060%	$51.8M	$189.8M	75x	as long as short
Orderly PERP_1000PEPE_USDClong	+0.0388%	8h	0.000005314	long leg	$36K	$26K	20x
OKX PEPE-USDT-SWAP	+0.0434%	8h	0.000005309	−0.102%	$51.9M	$682.4M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0495%	1h	0.000005317	+0.049%	$2K	$10K	10x	as long as short
BloFin PEPE-USDT	+0.0560%	8h	0.000005312	−0.045%	$5.0M	$28.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0630%	8h	0.000005320	+0.098%	$2.6M	$7.5M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0712%	1h	0.000005320	+0.105%	$651K	$36.7M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0755%	8h	0.000005279	−0.667%	$6K	—	20x	as long as short
BingX 1000PEPE-USDT	+0.0763%	8h	0.000005315	+0.004%	—	$235.0M	—	as long as short
MEXC PEPE_USDT	+0.0796%	8h	0.000005319	+0.088%	$104.6M	$294.9M	300x	as long as short
Binance 1000PEPEUSDT	+0.0798%	8h	0.000005314	0.000%	$155.0M	$1.32B	75x	as long as short
Extended 1000PEPE-USD	+0.0800%	1h	0.000005319	+0.086%	$562K	$226K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0800%	1h	0.000005306	−0.158%	$150K	—	3x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0804%	1h	0.000005291	−0.440%	$162K	$808K	25x	as long as short
Nado kPEPE-PERP	+0.0860%	1h	0.000005312	−0.040%	$191K	$916K	10x	as long as short
Aster 1000PEPEUSDT	+0.0914%	8h	0.000005306	−0.160%	$1.9M	$10.3M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0939% / S −0.1863%	1h	0.000005000	−5.916%	$65K	—	100x	as long as short
01 Exchange kPEPEUSDshort	+0.1032%	1h	0.000005311	−0.064%	$641	$3K	10x
Deribit 1000PEPE_USDC-PERPETUAL	+0.1069%	1h	0.000005315	+0.011%	$75K	$126K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.1225%	1h	0.000005323	+0.158%	$69K	$724K	15x	as long as short
Lighter 1000PEPE	+0.1248%	1h	0.000005317	+0.049%	$701K	$8.7M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1535%	1h	0.000005319	+0.091%	$4.9M	$16.4M	50x	as long as short
Hyperliquid kPEPE	+0.1645%	1h	0.000005315	+0.011%	$58.1M	$145.2M	10x	as long as short