Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1457%/8h= +159.5% APRpaid last 24h −0.002%

Price spread now: Deribit against Paradex+0.246%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 Deribit

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

Both sides work for this trade now. Funding pays +$44 a day on $10k at the current rate, and Deribit is 0.246% dearer against Paradex than usual: you sell high and buy low: +$25 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex kPEPE-USD-PERP	0.000004777	0.0176	pay 0.0176% / 8h	7h 58m	$5K	$16	20x
Short	Deribit 1000PEPE_USDC-PERPETUAL	0.000004789	0.1633	get 0.0204% / 1h	58m 16s	$77K	$98K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.246%Rate

Funding earned: $305.9
Price spread: +0.246% → 0.000%: $24.6
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $319.49
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Deribit: 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 Paradex no order-book sample	—	—	—	—	—
Sell Deribit no order-book sample	—	—	—	—	—

Paradex and Deribit: 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
Phemex u1000PEPEUSDT	−0.3205%	8h	0.000004782	+0.095%	$2.3M	$6.5M	50x	as long as short
Kraken Futures PF_PEPEUSD	−0.0122%	1h	0.000004790	+0.267%	$3.9M	$13.9M	50x	as long as short
Hyperliquid kPEPE	−0.0092%	1h	0.000004775	−0.047%	$69.0M	$100.8M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004777	−0.009%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004779	+0.041%	$14K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004779	+0.037%	$56K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004781	+0.081%	$87.4M	$296.1M	50x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004774	−0.064%	$24.1M	$55.0M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004789	+0.242%	$42.3M	$151.2M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004764	−0.280%	$552K	$4.2M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004768	−0.194%	$25K	$352K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004767	−0.215%	$100K	$754K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004789	+0.238%	$2K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004790	+0.271%	$541K	$3.5M	75x	as long as short
Lighter 1000PEPE	+0.0128%	1h	0.000004791	+0.288%	$578K	$6.6M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0144%	1h	0.000004765	−0.265%	$93K	$603K	15x	as long as short
Paradex kPEPE-USD-PERPlong	+0.0176%	8h	0.000004777	long leg	$5K	$16	20x
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004780	+0.067%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0190%	8h	0.000004788	+0.225%	$42.7M	$503.4M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0244%	1h	0.000004791	+0.288%	$2K	$12K	10x	as long as short
01 Exchange kPEPEUSD	+0.0272%	1h	0.000004781	+0.078%	$548	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0312%	8h	0.000004769	−0.173%	$3.9M	$22.6M	75x	as long as short
Nado kPEPE-PERP	+0.0312%	1h	0.000004781	+0.078%	$181K	$849K	10x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0338%	8h	0.000004781	+0.089%	$29K	$13K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000004783	+0.120%	$556K	$25.7M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0401% / S −0.0442%	1h	0.000004000	−16.270%	$43K	—	100x	as long as short
Gate PEPE_USDT	+0.0465%	8h	0.000004775	−0.047%	$151.0M	$64.4M	75x	as long as short
BingX 1000PEPE-USDT	+0.0535%	8h	0.000004784	+0.150%	—	$257.5M	—	as long as short
Aster 1000PEPEUSDT	+0.0542%	8h	0.000004784	+0.138%	$1.5M	$7.3M	50x	as long as short
Extended 1000PEPE-USD	+0.0544%	1h	0.000004788	+0.217%	$526K	$148K	25x	as long as short
Binance 1000PEPEUSDT	+0.0544%	8h	0.000004788	+0.218%	$134.8M	$1.08B	75x	as long as short
MEXC PEPE_USDT	+0.0549%	8h	0.000004790	+0.265%	$91.0M	$279.5M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0552%	1h	0.000004775	−0.047%	$135K	—	3x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000004746	−0.654%	$4K	$102K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUALshort	+0.1633%	1h	0.000004789	+0.246%	$77K	$98K	25x