Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0128%/8h= −14.0% APRpaid last 24h −0.068%

Price spread now: Orderly against 01 Exchange−0.173%46s7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Orderly

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 −$4 a day on $10k at the current rate, and Orderly is 0.173% cheaper against 01 Exchange than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange kPEPEUSD	0.000004908	0.0432	pay 0.0054% / 1h	40m 30s	$1K	$2K	10x
Short	Orderly PERP_1000PEPE_USDC	0.000004900	0.0304	get 0.0304% / 8h	7h 40m	$30K	$13K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against 01 Exchange. 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 01 ExchangebpFee OrderlybpOrdersPrice spread, now −0.173%Rate

Funding earned: −$26.81
Price spread: −0.173% → 0.000%: −$17.32
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$57.13
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; Orderly: no order-book sample. 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

01 Exchange and Orderly: 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
Kraken Futures PF_PEPEUSD	−0.0119%	1h	0.000004899	−0.181%	$3.9M	$13.9M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004895	−0.259%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004893	−0.304%	$15K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004906	−0.041%	$60.8M	$110.8M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004898	−0.204%	$57K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004896	−0.244%	$89.8M	$300.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004897	−0.224%	$155.7M	$65.3M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004900	−0.169%	$24.8M	$56.1M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004902	−0.122%	$43.0M	$152.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004891	−0.352%	$572K	$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	0.000004881	−0.546%	$26K	$350K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004904	−0.084%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004899	−0.183%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004895	−0.261%	$556K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000004900	−0.173%	$2.3M	$6.6M	50x	as long as short
Lighter 1000PEPE	+0.0160%	1h	0.000004902	−0.122%	$572K	$6.7M	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004901	−0.134%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0189%	8h	0.000004901	−0.143%	$43.3M	$519.7M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0189%	8h	0.000004905	−0.055%	$5K	$16	20x	as long as short
Orderly PERP_1000PEPE_USDCshort	+0.0304%	8h	0.000004900	−0.173%	$30K	$13K	20x
BloFin PEPE-USDT	+0.0312%	8h	0.000004897	−0.224%	$4.0M	$23.1M	75x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000004898	−0.204%	$556K	$26.5M	50x	as long as short
Nado kPEPE-PERP	+0.0399%	1h	0.000004901	−0.139%	$187K	$849K	10x	as long as short
01 Exchange kPEPEUSDlong	+0.0432%	1h	0.000004908	long leg	$1K	$2K	10x
GMX PEPE/USD [ETH-USDC]	L +0.0451% / S −0.0669%	1h	0.000004000	−18.500%	$46K	—	100x	as long as short
BingX 1000PEPE-USDT	+0.0502%	8h	0.000004902	−0.124%	—	$256.4M	—	as long as short
MEXC PEPE_USDT	+0.0517%	8h	0.000004895	−0.265%	$96.5M	$281.6M	300x	as long as short
Binance 1000PEPEUSDT	+0.0518%	8h	0.000004897	−0.221%	$137.2M	$1.09B	75x	as long as short
Extended 1000PEPE-USD	+0.0520%	1h	0.000004904	−0.077%	$538K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0520%	1h	0.000004896	−0.244%	$138K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0532%	8h	0.000004903	−0.106%	$1.5M	$7.5M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0588%	1h	0.000004871	−0.754%	$101K	$754K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0598%	1h	0.000004898	−0.210%	$94K	$598K	15x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000004898	−0.204%	$4K	$102K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0976%	1h	0.000004901	−0.143%	$74K	$103K	25x	as long as short