Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0304%/8h= +33.3% APRpaid last 24h +0.026%

Price spread now: ApeX Omni against Paradex−0.585%50s7-day average — · you buy dearer than you sell

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

Long on Paradex Short on ApeX Omni

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—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. ApeX Omni is 0.585% cheaper against Paradex than usual: you would sell low and buy high (spread −0.585% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$59 on $10k: about 6.4 days of funding at the current rate (+$9 a day). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex kPEPE-USD-PERP	0.000005119	0.0566	pay 0.0566% / 8h	2h 11m	$6K	—	20x
Short	ApeX Omni 1000PEPEUSDT	0.000005089	0.0870	get 0.0109% / 1h	11m 55s	$154K	$816K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Paradex. 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 ParadexbpFee ApeX OmnibpOrdersPrice spread, now −0.585%Rate

Funding earned: $63.92
Price spread: −0.585% → 0.000%: −$58.53
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$8.61
Costs to cover: 0.140%
Break-even: 7.9 days

Slippage unknown: Paradex: no order-book sample; ApeX Omni: live order book, 37 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell ApeX Omni live order book, 37 min ago	1.29 bp	9.4 bp −$9	96.8 bp −$968	doesn't fit	doesn't fit

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 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	0.000005117	−0.029%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0007%	1h	0.000005116	−0.060%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005119	+0.001%	$58K	$178K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005131	+0.227%	$100.3M	$408.9M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005129	+0.196%	$163.8M	$95.0M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005140	+0.407%	$25.7M	$71.2M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005080	−0.768%	$607K	$5.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005084	−0.675%	$28K	$540K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005132	+0.255%	$2K	$2.6M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005117	−0.030%	$578K	$4.1M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005123	+0.084%	$8K	—	15x	as long as short
SoDEX 1000PEPE-USD	+0.0219%	1h	0.000005126	+0.138%	$2K	$10K	10x	as long as short
Bitget PEPEUSDT	+0.0329%	8h	0.000005133	+0.282%	$45.7M	$211.9M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0389%	8h	0.000005126	+0.145%	$34K	$26K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0420%	8h	0.000005132	+0.255%	$47.1M	$708.2M	50x	as long as short
BloFin PEPE-USDT	+0.0552%	8h	0.000005113	−0.116%	$4.4M	$28.8M	75x	as long as short
Paradex kPEPE-USD-PERPlong	+0.0566%	8h	0.000005119	long leg	$6K	—	20x
Phemex u1000PEPEUSDT	+0.0605%	8h	0.000005129	+0.196%	$2.4M	$7.9M	50x	as long as short
Lighter 1000PEPE	+0.0640%	1h	0.000005131	+0.235%	$621K	$9.1M	10x	as long as short
Nado kPEPE-PERP	+0.0650%	1h	0.000005119	+0.001%	$167K	$945K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0665%	1h	0.000005129	+0.200%	$69K	$840K	15x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0680%	1h	0.000005129	+0.196%	$654K	$37.7M	50x	as long as short
01 Exchange kPEPEUSD	+0.0688%	1h	0.000005123	+0.079%	$618	$3K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0726%	1h	0.000005126	+0.138%	$73K	$127K	25x	as long as short
BingX 1000PEPE-USDT	+0.0762%	8h	0.000005130	+0.220%	—	$239.6M	—	as long as short
MEXC PEPE_USDT	+0.0797%	8h	0.000005126	+0.139%	$99.1M	$303.8M	300x	as long as short
Binance 1000PEPEUSDT	+0.0799%	8h	0.000005132	+0.255%	$142.5M	$1.42B	75x	as long as short
Extended 1000PEPE-USD	+0.0800%	1h	0.000005136	+0.330%	$542K	$277K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0800%	1h	0.000005128	+0.177%	$145K	—	3x	as long as short
Kraken Futures PF_PEPEUSD	+0.0833%	1h	0.000005125	+0.122%	$4.7M	$16.7M	50x	as long as short
Aster 1000PEPEUSDT	+0.0839%	8h	0.000005134	+0.296%	$1.8M	$11.4M	50x	as long as short
ApeX Omni 1000PEPEUSDTshort	+0.0870%	1h	0.000005089	−0.585%	$154K	$816K	25x
Hyperliquid kPEPE	+0.1014%	1h	0.000005137	+0.352%	$54.5M	$153.3M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1131% / S −0.2171%	1h	0.000005000	−2.324%	$64K	—	100x	as long as short
Injective PEPE/USDC PERP	+0.1379%	1h	0.000005027	−1.796%	$3K	$111K	12x	as long as short