Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0204%/8h= −22.4% APRpaid last 24h +0.040%

Price spread now: SoDEX against Phemex+0.018%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on SoDEX

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—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex u1000PEPEUSDT	0.000005006	0.0727	pay 0.0727% / 8h	5h 12m	$2.4M	$7.1M	50x
Short	SoDEX 1000PEPE-USD	0.000005007	0.0523	get 0.0065% / 1h	12m 09s	$2K	$12K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Phemex. 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 PhemexbpFee SoDEXbpOrdersPrice spread, now +0.018%Rate

Funding earned: −$42.91
Price spread: +0.018% → 0.000%: $1.8
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$61.11
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 2 min ago; SoDEX: 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 Phemex live order book, 2 min ago	6.76 bp	17.2 bp −$17	35.2 bp −$352	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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	0.000005001	−0.111%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005000	−0.126%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005008	+0.038%	$63K	$139K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005003	−0.066%	$97.1M	$340.8M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005004	−0.042%	$164.3M	$75.6M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005007	+0.018%	$25.8M	$63.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005042	+0.707%	$687K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005013	+0.131%	$27K	$445K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005015	+0.170%	$1K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005007	+0.012%	$569K	$3.6M	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	+0.0127%	8h	0.000005007	+0.020%	$45.8M	$173.2M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005006	+0.005%	$8K	—	15x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0315%	8h	0.000005009	+0.060%	$33K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0340%	8h	0.000005009	+0.058%	$45.5M	$586.1M	50x	as long as short
BloFin PEPE-USDT	+0.0462%	8h	0.000005002	−0.082%	$4.3M	$25.0M	75x	as long as short
SoDEX 1000PEPE-USDshort	+0.0523%	1h	0.000005007	+0.018%	$2K	$12K	10x
Deribit 1000PEPE_USDC-PERPETUAL	+0.0550%	1h	0.000005007	+0.018%	$71K	$124K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0576%	1h	0.000005014	+0.158%	$940K	$31.4M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0576%	1h	0.000005011	+0.098%	$99K	$755K	25x	as long as short
BingX 1000PEPE-USDC	+0.0605%	8h	0.000005009	+0.066%	—	$2.3M	—	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0629% / S −0.1007%	1h	0.000005000	−0.122%	$49K	—	100x	as long as short
Binance 1000PEPEUSDT	+0.0636%	8h	0.000005006	−0.005%	$140.1M	$1.21B	75x	as long as short
MEXC PEPE_USDT	+0.0638%	8h	0.000005005	−0.012%	$94.1M	$290.4M	300x	as long as short
Extended 1000PEPE-USD	+0.0640%	1h	0.000005006	−0.009%	$530K	$226K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0640%	1h	0.000005003	−0.062%	$141K	—	3x	as long as short
Phemex u1000PEPEUSDTlong	+0.0727%	8h	0.000005006	long leg	$2.4M	$7.1M	50x
Aster 1000PEPEUSDT	+0.0732%	8h	0.000005006	−0.005%	$1.8M	$9.2M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0783%	8h	0.000005009	+0.054%	$6K	—	20x	as long as short
Nado kPEPE-PERP	+0.0802%	1h	0.000005006	+0.007%	$185K	$872K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0958%	1h	0.000005009	+0.058%	$92K	$632K	15x	as long as short
01 Exchange kPEPEUSD	+0.0960%	1h	0.000005017	+0.218%	$605	$3K	10x	as long as short
Injective PEPE/USDC PERP	+0.0973%	1h	0.000005011	+0.098%	$4K	$102K	12x	as long as short
Lighter 1000PEPE	+0.1176%	1h	0.000005011	+0.098%	$663K	$8.1M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1390%	1h	0.000005005	−0.019%	$4.3M	$15.2M	50x	as long as short
Hyperliquid kPEPE	+0.1587%	1h	0.000005015	+0.178%	$53.6M	$139.6M	10x	as long as short