Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0007%/8h= +0.7% APRpaid last 24h −0.005%

Price spread now: Reya against Paradex+0.182%47s7-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 Reya

What this pair did over the last

the charts below follow

Funding, last 3 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 · Reya: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Reya is 0.182% dearer against Paradex than usual: you sell high and buy low, +$18 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 47 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	0.000004755	0.0182	pay 0.0182% / 8h	26m 45s	$5K	$16	20x
Short	Reya kPEPERUSDPERP	0.000004764	0.0189	get 0.0024% / 1h	26m 45s	$7K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.182%Rate

Funding earned: $1.4
Price spread: +0.182% → 0.000%: $18.19
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Reya: 3 bp × 2 orders: −$6
Net: $9.59
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Reya: 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 Reya no order-book sample	—	—	—	—	—

Paradex and Reya: 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
Hyperliquid kPEPE	−0.0169%	1h	0.000004753	−0.039%	$66.6M	$93.3M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004753	−0.041%	$17K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000004759	+0.079%	$13K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0067%	1h	0.000004760	+0.106%	$3.8M	$13.7M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004756	+0.024%	$59K	$116K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004752	−0.060%	$85.6M	$290.3M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004753	−0.039%	$149.3M	$64.4M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004759	+0.077%	$24.2M	$54.4M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004751	−0.087%	$42.0M	$150.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004765	+0.212%	$583K	$4.1M	—	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	0.000004770	+0.319%	$25K	$348K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004769	+0.297%	$99K	$754K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004772	+0.369%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004762	+0.150%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004763	+0.180%	$540K	$3.5M	75x	as long as short
Lighter 1000PEPE	+0.0112%	1h	0.000004756	+0.024%	$592K	$6.4M	10x	as long as short
Paradex kPEPE-USD-PERPlong	+0.0182%	8h	0.000004755	long leg	$5K	$16	20x
Phemex u1000PEPEUSDT	+0.0187%	8h	0.000004762	+0.159%	$2.3M	$6.4M	50x	as long as short
Reya kPEPERUSDPERPshort	+0.0189%	1h	0.000004764	+0.182%	$7K	—	15x
OKX PEPE-USDT-SWAP	+0.0205%	8h	0.000004754	−0.018%	$41.5M	$494.1M	50x	as long as short
01 Exchange kPEPEUSD	+0.0264%	1h	0.000004770	+0.318%	$546	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0324%	8h	0.000004766	+0.234%	$3.9M	$22.3M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0380% / S −0.0341%	1h	0.000004000	−15.876%	$47K	—	100x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0385%	8h	0.000004764	+0.194%	$30K	$12K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004760	+0.108%	$564K	$25.5M	50x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004767	+0.255%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0593%	1h	0.000004766	+0.234%	$90K	$602K	15x	as long as short
Aster 1000PEPEUSDT	+0.0610%	8h	0.000004763	+0.163%	$1.5M	$7.3M	50x	as long as short
Binance 1000PEPEUSDT	+0.0610%	8h	0.000004757	+0.036%	$131.1M	$1.06B	75x	as long as short
MEXC PEPE_USDT	+0.0613%	8h	0.000004758	+0.068%	$91.0M	$281.2M	300x	as long as short
Extended 1000PEPE-USD	+0.0616%	1h	0.000004753	−0.033%	$524K	$148K	25x	as long as short
BingX 1000PEPE-USDC	+0.0616%	8h	0.000004752	−0.066%	—	$2.3M	—	as long as short
Aevo 1000PEPE-PERP	+0.0616%	1h	0.000004765	+0.213%	$135K	—	3x	as long as short
Nado kPEPE-PERP	+0.0675%	1h	0.000004765	+0.210%	$182K	$849K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0801%	1h	0.000004764	+0.192%	$77K	$98K	25x	as long as short