Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0360%/8h= +39.4% APRpaid last 24h +0.215%

Price spread now: Kraken Futures against SunX−0.185%7-day average −0.191% · you buy dearer than you sell

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

Long on SunX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.143%+$14 on $10k

Price spread, last 4 days (all we have)−0.011%−$1 · spread now −0.185%, 7d avg −0.191%

Together, before fees+0.132%+$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.191%, so right now this pair is about funding alone: +$11 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.143% in total (about 7.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX 1000PEPE-USDT	0.000005085	0.0100	pay 0.0100% / 8h	1h 33m	$1K	$2.6M	20x
Short	Kraken Futures PF_PEPEUSD	0.000005076	0.0460	get 0.0057% / 1h	33m 56s	$4.6M	$16.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.185%Rate

Funding earned: $75.56
Price spread: −0.185% → −0.191%: $0.68
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $58.24
Costs to cover: 0.180%
Break-even: 1.6 days

Slippage unknown: SunX: live order book, 4 min ago; Kraken Futures: live order book, 5 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 SunX live order book, 4 min ago	500.12 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	5.06 bp	12.6 bp −$13	16.8 bp −$168	67.1 bp −$6,707	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
Injective PEPE/USDC PERP	−0.0016%	1h	0.000005083	−0.045%	$9K	$120K	12x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000005072	−0.259%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005071	−0.273%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005079	−0.124%	$59K	$181K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005075	−0.203%	$99.4M	$418.4M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005072	−0.262%	$161.6M	$96.9M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005076	−0.183%	$25.7M	$72.4M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005114	+0.557%	$611K	$5.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005128	+0.832%	$28K	$542K	20x	as long as short
SunX 1000PEPE-USDTlong	+0.0100%	8h	0.000005085	long leg	$1K	$2.6M	20x

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005077	−0.155%	$587K	$4.2M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0171%	1h	0.000005076	−0.183%	$2K	$11K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0188%	1h	0.000005132	+0.918%	$155K	$822K	25x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005077	−0.169%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0292%	8h	0.000005075	−0.193%	$45.4M	$215.4M	75x	as long as short
Backpack kPEPE_USDC_PERP	+0.0377%	1h	0.000005077	−0.165%	$72K	$857K	15x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0387%	8h	0.000005081	−0.090%	$33K	$26K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0411%	8h	0.000005074	−0.222%	$47.1M	$720.1M	50x	as long as short
Kraken Futures PF_PEPEUSDshort	+0.0460%	1h	0.000005076	−0.185%	$4.6M	$16.5M	50x
Paradex kPEPE-USD-PERP	+0.0500%	8h	0.000005070	−0.305%	$6K	—	20x	as long as short
BloFin PEPE-USDT	+0.0535%	8h	0.000005078	−0.144%	$4.5M	$29.2M	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0538%	1h	0.000005079	−0.124%	$72K	$127K	25x	as long as short
Lighter 1000PEPE	+0.0568%	1h	0.000005082	−0.065%	$606K	$9.0M	10x	as long as short
Phemex u1000PEPEUSDT	+0.0583%	8h	0.000005081	−0.079%	$2.4M	$8.0M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0624%	1h	0.000005079	−0.124%	$687K	$38.4M	50x	as long as short
01 Exchange kPEPEUSD	+0.0672%	1h	0.000005080	−0.104%	$613	$3K	10x	as long as short
BingX 1000PEPE-USDT	+0.0732%	8h	0.000005076	−0.179%	—	$217.7M	—	as long as short
Binance 1000PEPEUSDT	+0.0765%	8h	0.000005076	−0.174%	$139.9M	$1.46B	75x	as long as short
Extended 1000PEPE-USD	+0.0768%	1h	0.000005074	−0.216%	$538K	$279K	25x	as long as short
MEXC PEPE_USDT	+0.0768%	8h	0.000005076	−0.189%	$96.8M	$304.1M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0768%	1h	0.000005079	−0.124%	$144K	—	3x	as long as short
Nado kPEPE-PERP	+0.0769%	1h	0.000005074	−0.230%	$163K	$959K	10x	as long as short
Aster 1000PEPEUSDT	+0.0769%	8h	0.000005076	−0.190%	$1.8M	$11.7M	50x	as long as short
Hyperliquid kPEPE	+0.0974%	1h	0.000005080	−0.104%	$53.5M	$155.8M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1130% / S −0.2257%	1h	0.000005000	−1.677%	$63K	—	100x	as long as short