Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0348%/8h= +38.1% APRpaid last 24h −0.059%

Price spread now: Phemex against SoDEX+0.060%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Phemex

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 for this trade now. Funding pays +$10 a day on $10k at the current rate, and Phemex is 0.060% dearer against SoDEX than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX 1000PEPE-USD	0.000005169	0.0172	pay 0.0022% / 1h	5m 58s	$2K	$11K	10x
Short	Phemex u1000PEPEUSDT	0.000005172	0.0521	get 0.0521% / 8h	1h 05m	$2.4M	$8.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.060%Rate

Funding earned: $73.16
Price spread: +0.060% → 0.000%: $6
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: $59.16
Costs to cover: 0.200%
Break-even: 1.3 days

Slippage unknown: SoDEX: no order-book sample; Phemex: live order book, 3 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 Phemex live order book, 3 min ago	5.93 bp	20.7 bp −$21	27.6 bp −$276	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
Injective PEPE/USDC PERP	−0.0016%	1h	0.000005140	−0.561%	$8K	$120K	12x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000005154	−0.300%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005161	−0.153%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005159	−0.193%	$60K	$182K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005166	−0.054%	$101.3M	$421.1M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005169	0.000%	$164.5M	$97.7M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005115	−1.053%	$600K	$5.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005152	−0.325%	$28K	$543K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005179	+0.201%	$1K	$2.7M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005168	−0.014%	$599K	$4.2M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin PEPEUSDTM	+0.0111%	8h	0.000005165	−0.081%	$26.3M	$72.7M	75x	as long as short
SoDEX 1000PEPE-USDlong	+0.0172%	1h	0.000005169	long leg	$2K	$11K	10x
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005173	+0.080%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0286%	8h	0.000005165	−0.070%	$46.2M	$216.4M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0397%	8h	0.000005168	−0.019%	$47.8M	$737.1M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0400%	8h	0.000005171	+0.048%	$34K	$26K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0422%	1h	0.000005152	−0.329%	$150K	$829K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0452%	1h	0.000005167	−0.044%	$4.7M	$16.5M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0463%	1h	0.000005172	+0.054%	$73K	$865K	15x	as long as short
BloFin PEPE-USDT	+0.0512%	8h	0.000005161	−0.155%	$4.4M	$29.9M	75x	as long as short
Phemex u1000PEPEUSDTshort	+0.0521%	8h	0.000005172	+0.060%	$2.4M	$8.0M	50x
Paradex kPEPE-USD-PERP	+0.0521%	8h	0.000005160	−0.169%	$6K	—	20x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0525%	1h	0.000005168	−0.019%	$74K	$127K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0624%	1h	0.000005172	+0.058%	$679K	$39.1M	50x	as long as short
01 Exchange kPEPEUSD	+0.0672%	1h	0.000005176	+0.135%	$624	$3K	10x	as long as short
Nado kPEPE-PERP	+0.0701%	1h	0.000005172	+0.054%	$165K	$960K	10x	as long as short
Lighter 1000PEPE	+0.0704%	1h	0.000005173	+0.077%	$617K	$9.1M	10x	as long as short
BingX 1000PEPE-USDC	+0.0729%	8h	0.000005167	−0.043%	—	$2.3M	—	as long as short
Aster 1000PEPEUSDT	+0.0751%	8h	0.000005167	−0.035%	$1.8M	$11.7M	50x	as long as short
Binance 1000PEPEUSDT	+0.0759%	8h	0.000005166	−0.049%	$142.0M	$1.47B	75x	as long as short
MEXC PEPE_USDT	+0.0759%	8h	0.000005165	−0.075%	$100.2M	$306.8M	300x	as long as short
Extended 1000PEPE-USD	+0.0760%	1h	0.000005166	−0.058%	$543K	$284K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0760%	1h	0.000005169	0.000%	$146K	—	3x	as long as short
Hyperliquid kPEPE	+0.0957%	1h	0.000005175	+0.116%	$53.8M	$156.8M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1132% / S −0.2249%	1h	0.000005000	−3.269%	$64K	—	100x	as long as short