Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h +0.047%

Price spread now: Lighter against Paradex+0.065%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 Lighter

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 · Lighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 0.065% dearer against Paradex than usual: you sell high and buy low (spread +0.065% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex kPEPE-USD-PERP	0.000004797	0.0175	pay 0.0175% / 8h	7h 57m	$5K	$16	20x
Short	Lighter 1000PEPE	0.000004800	0.0120	get 0.0015% / 1h	57m 03s	$578K	$6.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.065%Rate

Funding earned: −$11.6
Price spread: +0.065% → 0.000%: $6.48
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: −$9.12
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Lighter: live order book, 11 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 Lighter live order book, 11 min ago	4.22 bp	9.2 bp −$9	16.8 bp −$168	47.2 bp −$4,723	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
Phemex u1000PEPEUSDT	−0.1073%	8h	0.000004798	+0.034%	$2.3M	$6.5M	50x	as long as short
Kraken Futures PF_PEPEUSD	−0.0122%	1h	0.000004797	+0.007%	$3.9M	$13.9M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004792	−0.098%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004797	−0.004%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004789	−0.164%	$68.6M	$101.8M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004796	−0.019%	$56K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004791	−0.121%	$87.5M	$296.7M	50x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004794	−0.067%	$24.1M	$55.0M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004794	−0.054%	$42.4M	$151.4M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004764	−0.689%	$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	0.000004767	−0.613%	$25K	$350K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004767	−0.623%	$100K	$754K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004805	+0.179%	$2K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004802	+0.104%	$542K	$3.5M	75x	as long as short
Lighter 1000PEPEshort	+0.0120%	1h	0.000004800	+0.065%	$578K	$6.6M	10x
SoDEX 1000PEPE-USD	+0.0158%	1h	0.000004799	+0.044%	$2K	$12K	10x	as long as short
Paradex kPEPE-USD-PERPlong	+0.0175%	8h	0.000004797	long leg	$5K	$16	20x
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004801	+0.085%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0191%	8h	0.000004794	−0.060%	$42.8M	$505.0M	50x	as long as short
01 Exchange kPEPEUSD	+0.0304%	1h	0.000004802	+0.107%	$550	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0310%	8h	0.000004792	−0.102%	$3.9M	$22.7M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0336%	8h	0.000004799	+0.040%	$30K	$13K	20x	as long as short
Nado kPEPE-PERP	+0.0338%	1h	0.000004801	+0.095%	$181K	$849K	10x	as long as short
Gate PEPE_USDT	+0.0348%	8h	0.000004797	+0.002%	$152.4M	$64.5M	75x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000004804	+0.148%	$557K	$25.9M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0403% / S −0.0444%	1h	0.000004000	−16.613%	$43K	—	100x	as long as short
BingX 1000PEPE-USDC	+0.0540%	8h	0.000004792	−0.098%	—	$2.3M	—	as long as short
Aster 1000PEPEUSDT	+0.0542%	8h	0.000004798	+0.029%	$1.5M	$7.3M	50x	as long as short
Extended 1000PEPE-USD	+0.0544%	1h	0.000004793	−0.091%	$526K	$148K	25x	as long as short
Binance 1000PEPEUSDT	+0.0544%	8h	0.000004799	+0.053%	$135.2M	$1.08B	75x	as long as short
MEXC PEPE_USDT	+0.0544%	8h	0.000004793	−0.081%	$91.2M	$279.6M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0552%	1h	0.000004796	−0.019%	$136K	—	3x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000004793	−0.081%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0659%	1h	0.000004795	−0.046%	$93K	$603K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.1001%	1h	0.000004801	+0.086%	$77K	$98K	25x	as long as short