Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0585%/8h= −64.1% APRpaid last 24h −0.059%

Price spread now: KuCoin against SoDEX−0.043%7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on KuCoin

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

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and KuCoin is 0.043% cheaper against SoDEX than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX 1000PEPE-USD	0.000005335	0.0685	pay 0.0086% / 1h	47m 04s	$2K	$10K	10x
Short	KuCoin PEPEUSDTM	0.000005333	0.0100	get 0.0100% / 8h	3h 47m	$27.0M	$67.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against SoDEX. 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 SoDEXbpFee KuCoinbpOrdersPrice spread, now −0.043%Rate

Funding earned: −$122.86
Price spread: −0.043% → 0.000%: −$4.31
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$147.17
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; KuCoin: live order book, 2 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 SoDEX no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 2 min ago	2.90 bp	12.8 bp −$13	25.2 bp −$252	doesn't fit	doesn't fit

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	0.000005328	−0.129%	$20K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005331	−0.069%	$15K	—	150x	as long as short
Injective PEPE/USDC PERP	+0.0092%	1h	0.000005381	+0.862%	$3K	$111K	12x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005341	+0.112%	$70K	$153K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005328	−0.127%	$104.5M	$370.9M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005326	−0.169%	$176.3M	$86.1M	75x	as long as short
KuCoin PEPEUSDTMshort	+0.0100%	8h	0.000005333	−0.043%	$27.0M	$67.5M	75x
Variational Omni 1000PEPE	+0.0100%	8h	0.000005323	−0.233%	$765K	$5.0M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005322	−0.239%	$43K	$498K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005344	+0.174%	$2K	$2.5M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005353	+0.330%	$613K	$3.8M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005338	+0.065%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0260%	8h	0.000005335	+0.004%	$52.1M	$186.5M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0377%	8h	0.000005341	+0.107%	$36K	$26K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0419%	8h	0.000005336	+0.019%	$52.5M	$676.5M	50x	as long as short
BloFin PEPE-USDT	+0.0542%	8h	0.000005333	−0.037%	$4.5M	$28.2M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0607%	8h	0.000005338	+0.054%	$2.6M	$7.5M	50x	as long as short
SoDEX 1000PEPE-USDlong	+0.0685%	1h	0.000005335	long leg	$2K	$10K	10x
Deribit 1000PEPE_USDC-PERPETUAL	+0.0688%	1h	0.000005334	−0.019%	$76K	$126K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0712%	1h	0.000005339	+0.075%	$715K	$36.4M	50x	as long as short
BingX 1000PEPE-USDT	+0.0764%	8h	0.000005335	+0.004%	—	$264.0M	—	as long as short
Aevo 1000PEPE-PERP	+0.0800%	1h	0.000005336	+0.019%	$151K	—	3x	as long as short
Paradex kPEPE-USD-PERP	+0.0800%	8h	0.000005332	−0.058%	$6K	—	20x	as long as short
MEXC PEPE_USDT	+0.0803%	8h	0.000005330	−0.101%	$103.8M	$292.5M	300x	as long as short
Binance 1000PEPEUSDT	+0.0807%	8h	0.000005336	+0.027%	$154.5M	$1.30B	75x	as long as short
Extended 1000PEPE-USD	+0.0808%	1h	0.000005334	−0.015%	$566K	$226K	25x	as long as short
Nado kPEPE-PERP	+0.0835%	1h	0.000005335	−0.004%	$190K	$914K	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0892% / S −0.1742%	1h	0.000005000	−6.279%	$66K	—	100x	as long as short
Aster 1000PEPEUSDT	+0.0932%	8h	0.000005336	+0.021%	$1.9M	$9.9M	50x	as long as short
01 Exchange kPEPEUSD	+0.1256%	1h	0.000005347	+0.225%	$645	$3K	10x	as long as short
Lighter 1000PEPE	+0.1264%	1h	0.000005338	+0.056%	$685K	$8.5M	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.1270%	1h	0.000005320	−0.281%	$175K	$798K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.1385%	1h	0.000005337	+0.030%	$72K	$722K	15x	as long as short
Kraken Futures PF_PEPEUSD	+0.1532%	1h	0.000005331	−0.084%	$4.9M	$16.3M	50x	as long as short
Hyperliquid kPEPE	+0.1773%	1h	0.000005343	+0.150%	$58.5M	$144.3M	10x	as long as short