Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.068%

Price spread now: Hyperliquid against SunX−0.137%7-day average −0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$150as in the Price arb table

costs, in and out, $10k−$1421.419% of the position

Long on SunX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.359%+$36 on $10k

Price spread, last 3 days (all we have)−0.004%$0 · spread now −0.137%, 7d avg −0.058%

Together, before fees+0.355%+ Points / potential airdropHyperliquid: Season 2 · farm board+$35 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.080% cheaper against SunX than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.058%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX 1000PEPE-USDT	0.000004877	0.0100	pay 0.0100% / 8h	7h 43m	$2K	$2.4M	20x
Short	Hyperliquid kPEPE	0.000004870	0.0100	get 0.0013% / 1h	43m 59s	$62.4M	$108.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against SunX. 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 SunXbpFee HyperliquidbpOrdersPrice spread, now −0.137%Rate

Funding earned: $0
Price spread: −0.137% → −0.058%: −$7.97
Slippage, 4 orders: −$124.93
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$149.9
Costs to cover: 1.419%
Break-even: never at this rate

Slippage from SunX: live order book, 2 min ago; Hyperliquid: live order book, 10 min ago.

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 SunX live order book, 2 min ago	29.13 bp	47.1 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	1.04 bp	10.9 bp −$11	14.8 bp −$148	doesn't fit	doesn't fit

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
Kraken Futures PF_PEPEUSD	−0.0120%	1h	0.000004870	−0.141%	$3.9M	$14.0M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004868	−0.183%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004867	−0.197%	$15K	—	150x	as long as short
Hyperliquid kPEPEshort	+0.0100%	1h	0.000004870	−0.137%	$62.4M	$108.8M	10x
Pacifica kPEPE	+0.0100%	1h	0.000004870	−0.137%	$57K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004873	−0.070%	$89.3M	$300.1M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004873	−0.076%	$155.1M	$65.2M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004878	+0.018%	$24.4M	$55.7M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004878	+0.037%	$42.9M	$152.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004859	−0.368%	$574K	$4.3M	—	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	0.000004832	−0.919%	$26K	$352K	20x	as long as short
SunX 1000PEPE-USDTlong	+0.0100%	8h	0.000004877	long leg	$2K	$2.4M	20x
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004870	−0.137%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004871	−0.127%	$552K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000004869	−0.148%	$2.3M	$6.5M	50x	as long as short
Lighter 1000PEPE	+0.0128%	1h	0.000004873	−0.076%	$572K	$6.7M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0179%	8h	0.000004868	−0.179%	$5K	$16	20x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004868	−0.181%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0192%	8h	0.000004879	+0.047%	$43.1M	$517.1M	50x	as long as short
BloFin PEPE-USDT	+0.0308%	8h	0.000004869	−0.158%	$4.0M	$23.1M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0310%	8h	0.000004867	−0.197%	$30K	$13K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000004872	−0.096%	$554K	$26.4M	50x	as long as short
Nado kPEPE-PERP	+0.0389%	1h	0.000004872	−0.103%	$183K	$848K	10x	as long as short
01 Exchange kPEPEUSD	+0.0400%	1h	0.000004874	−0.055%	$1K	$2K	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0444% / S −0.0656%	1h	0.000004000	−17.977%	$46K	—	100x	as long as short
BingX 1000PEPE-USDT	+0.0506%	8h	0.000004878	+0.018%	—	$257.6M	—	as long as short
Extended 1000PEPE-USD	+0.0520%	1h	0.000004877	+0.013%	$535K	$148K	25x	as long as short
Binance 1000PEPEUSDT	+0.0522%	8h	0.000004879	+0.055%	$137.5M	$1.08B	75x	as long as short
MEXC PEPE_USDT	+0.0524%	8h	0.000004874	−0.055%	$96.1M	$281.2M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0528%	1h	0.000004872	−0.096%	$138K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0536%	8h	0.000004874	−0.053%	$1.5M	$7.4M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0601%	1h	0.000004869	−0.164%	$94K	$598K	15x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0633%	1h	0.000004859	−0.363%	$101K	$754K	25x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000004875	−0.035%	$4K	$102K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0983%	1h	0.000004871	−0.117%	$78K	$98K	25x	as long as short