Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0119%/8h= −13.0% APRpaid last 24h +0.024%

Price spread now: Coinbase International against Paradex+0.052%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Coinbase International

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

The price spread pays, funding is against you. Coinbase International is 0.052% dearer against Paradex than usual: you sell high and buy low (spread +0.052% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 35 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex kPEPE-USD-PERP	0.000005030	0.0791	pay 0.0791% / 8h	4h 46m	$6K	—	20x
Short	Coinbase International 1000PEPE-PERP-INTX	0.000005033	0.0672	get 0.0084% / 1h	46m 26s	$972K	$31.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Paradex. 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 ParadexbpFee Coinbase InternationalbpOrdersPrice spread, now +0.052%Rate

Funding earned: −$24.9
Price spread: +0.052% → 0.000%: $5.25
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$33.66
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Coinbase International: live order book, 3 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 Coinbase International live order book, 3 min ago	3.99 bp	12.1 bp −$12	17.2 bp −$172	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	0.000005027	−0.065%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005020	−0.210%	$14K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005031	+0.013%	$64K	$140K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005032	+0.033%	$98.7M	$345.4M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005033	+0.052%	$166.0M	$75.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005029	−0.025%	$26.0M	$63.7M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005027	−0.074%	$675K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005013	−0.351%	$31K	$452K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005029	−0.035%	$2K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005020	−0.208%	$572K	$3.7M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PEPEUSDT	+0.0161%	8h	0.000005033	+0.049%	$46.0M	$174.7M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005029	−0.019%	$8K	—	15x	as long as short
Injective PEPE/USDC PERP	+0.0254%	1h	0.000005044	+0.271%	$3K	$102K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0330%	8h	0.000005028	−0.055%	$33K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0358%	8h	0.000005035	+0.092%	$45.1M	$594.4M	50x	as long as short
BloFin PEPE-USDT	+0.0479%	8h	0.000005028	−0.047%	$4.3M	$25.2M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0496%	1h	0.000005024	−0.126%	$2K	$12K	10x	as long as short
BingX 1000PEPE-USDT	+0.0635%	8h	0.000005038	+0.148%	—	$261.7M	—	as long as short
Phemex u1000PEPEUSDT	+0.0638%	8h	0.000005027	−0.057%	$2.4M	$7.1M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0662% / S −0.0910%	1h	0.000005000	−0.604%	$45K	—	100x	as long as short
Extended 1000PEPE-USD	+0.0664%	1h	0.000005037	+0.135%	$532K	$226K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0664%	1h	0.000005023	−0.146%	$142K	—	3x	as long as short
MEXC PEPE_USDT	+0.0667%	8h	0.000005031	+0.017%	$92.4M	$287.0M	300x	as long as short
Binance 1000PEPEUSDT	+0.0671%	8h	0.000005038	+0.162%	$141.7M	$1.22B	75x	as long as short
Coinbase International 1000PEPE-PERP-INTXshort	+0.0672%	1h	0.000005033	+0.052%	$972K	$31.7M	50x
Deribit 1000PEPE_USDC-PERPETUAL	+0.0746%	1h	0.000005024	−0.126%	$71K	$124K	25x	as long as short
Aster 1000PEPEUSDT	+0.0757%	8h	0.000005027	−0.069%	$1.8M	$9.2M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0788%	1h	0.000005031	+0.013%	$98K	$644K	15x	as long as short
Paradex kPEPE-USD-PERPlong	+0.0791%	8h	0.000005030	long leg	$6K	—	20x
Nado kPEPE-PERP	+0.0834%	1h	0.000005033	+0.054%	$191K	$877K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0852%	1h	0.000005009	−0.425%	$99K	$743K	25x	as long as short
Lighter 1000PEPE	+0.0904%	1h	0.000005032	+0.033%	$579K	$8.2M	10x	as long as short
01 Exchange kPEPEUSD	+0.0904%	1h	0.000005045	+0.291%	$609	$3K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1297%	1h	0.000005021	−0.178%	$4.4M	$15.4M	50x	as long as short
Hyperliquid kPEPE	+0.1410%	1h	0.000005037	+0.132%	$54.0M	$140.0M	10x	as long as short