Funding arb · Price arb / Crypto

PEPE

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LONGPolymarket Perps▾Backpack −0.2711%Kraken Futures −0.0568%Polymarket Perps −0.0404%Bitget −0.0324%TxFlow −0.0124%dYdX 0.0000%Gate +0.0021%Paradex +0.0034%Phoenix +0.0036%Orderly +0.0077%Lighter +0.0096%Popdex +0.0096%Aevo +0.0096%Nado +0.0100%Aster +0.0100%Pacifica +0.0100%Binance +0.0100%Bybit +0.0100%OKX +0.0100%MEXC +0.0100%KuCoin +0.0100%BingX +0.0100%Variational Omni +0.0100%edgeX +0.0100%GRVT +0.0100%ApeX Omni +0.0100%SunX +0.0100%Phemex +0.0100%AZverse +0.0100%Extended +0.0104%HTX +0.0129%BloFin +0.0220%gTrade (Gains Network) +0.0318%SoDEX +0.0350%N1 +0.0360%Deribit +0.0621%GMX +0.0621%Injective +0.0678%

⇄⇅

SHORTHyperliquid▾GMX −0.1132%Injective +0.0678%Deribit +0.0621%N1 +0.0360%SoDEX +0.0350%BloFin +0.0220%HTX +0.0129%Hyperliquid +0.0114%Extended +0.0104%Aster +0.0100%Pacifica +0.0100%Binance +0.0100%Bybit +0.0100%OKX +0.0100%MEXC +0.0100%KuCoin +0.0100%BingX +0.0100%Variational Omni +0.0100%edgeX +0.0100%GRVT +0.0100%ApeX Omni +0.0100%SunX +0.0100%Phemex +0.0100%AZverse +0.0100%Nado +0.0100%Popdex +0.0096%Aevo +0.0096%Lighter +0.0096%Orderly +0.0077%Phoenix +0.0036%Paradex +0.0034%Gate +0.0021%dYdX 0.0000%gTrade (Gains Network) +0.0046%TxFlow −0.0124%Bitget −0.0324%Kraken Futures −0.0568%Backpack −0.2711%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	Polymarket PerpsKPEPE-USD	0.000004597	−0.0404	get 0.0051% / 1h	1m 54s	$201K	$597K	10x	Long Polymarket Perps
SHORT	HyperliquidkPEPE	0.000004631	+0.0114	get 0.0014% / 1h	1m 54s	$64.7M	$238.5M	10x	Short Hyperliquid4% off

Price gap+0.740%

Funding gap+0.0519% /8h

Both sides work: funding pays +$16 a day on $10k, and the gap is 0.684% above its 7d average: +$68 more if it goes back.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid +0.199% in total, about +0.0095%/8h on average.

Price and funding

Entry / ExitPrice spreadPricesFundingLeg ratesP&L

1m5m15m1h

1h · history

24H3D7D14D30D90D

Entry / Exit?

Price spread?

Prices?

Funding?per 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now+0.740%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

Polymarket PerpsHyperliquid

PEPE on 39 exchanges

lowest funding first

Before you open

5 ok · 1 to watch

• ✓
  OK: Fits both order books13.8 / 5.6 bp

  Entry at $10k a leg, taker fee + slippage. Closing costs about the same.
• i
  Note: Margin at max leverage$1,000 + $1,000

  Polymarket Perps 10x, Hyperliquid 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• ✓
  OK: Same payment interval1h / 1h

  Both legs pay at the same time.

  Long Polymarket Perps · 1h+$12.13

  Short Hyperliquid · 1h+$3.43

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: +$15.56Long Polymarket Perps: 24 payments, +$12.13; short Hyperliquid: 24 payments, +$3.43.
• ✓
  OK: Entry gap works for you+0.740% vs +0.056%

  You short the dearer leg. If the gap goes back to average, the short gains.
• !
  Watch: Long leg is thinner$201K vs $64.7M OI

  Polymarket Perps sets your exit cost. Check its book before closing.
• ✓
  OK: Points on a legHyperliquid Season 2

  Volume here counts toward the points program.
• ✓
  OK: No KYC on either legPolymarket Perps No · Hyperliquid No

  Both exchanges let you trade without ID.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned+0.0095%/8h × 21 periods+$19.87

Price spread+0.740% → +0.056% (7d avg)+$68.35

Slippage, 4 orderslive order books−$20.51

Fee Polymarket Perps bp × 2 orders−$8.00

Fee Hyperliquid bp × 2 orders−$9.00

Net · 7 days · $10k+$50.71

Costs to cover0.375%Break-evenfrom the start

Slippage: Polymarket Perps: live order book, 25 min ago; Hyperliquid: live order book, 11 min ago

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGPolymarket Perps5.4813.8 bp−$1438.2 bp−$382doesn’t fitdoesn’t fit

SELL · SHORTHyperliquid1.105.6 bp−$69.1 bp−$9141.9 bp−$4,188150.6 bp−$75.3K

Closing costs about the same again.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

FundingPrice spread

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PEPE news

posts that mention PEPE, from every exchangeSearch all news →

10-28 16:00	OKX	Other	Europe, your next X Drops basket is here. ZEC, NEAR, SUI, TAO, PEPE, WLD, LINK, PUMP, ONDO and ZAMA are in, with 3.4M $ZAMA up for grabs. Trade @zama for 3× rewards. @okx on X ↗
10-22 06:00	KuCoin	Other	Fresh out of the oven: the coin cookie tray 🍪 BTC, ETH, SOL, DOGE, PEPE and more. Which one are you reaching for? Register and complete your first trade for a chance to share 5,000 USDT, up to 100 USDT each. Grab yours 👉 #FoodForYourThought #KuFood #KuCoin @kucoincom on X ↗
09-28 17:53	Phoenix	Listing	Now live on Phoenix: $SHIB - 10x leverage $PEPE - 10x leverage @PhoenixTrade on X ↗
09-24 15:00	Phoenix	Listing	new market kPEPE ($PEPE) seen by our collector
09-23 09:30	Phemex	Other	BTC is green. But the alts are doing the talking. $XRP +9.11% $PEPE +18.55% $ZEC +6.56% $NEAR +4.14% 👀 What are you watching? The next 100x gems? Comments below👇 @Phemex_official on X ↗