Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0738%/8h= −80.8% APRpaid last 24h −0.137%

Price spread now: dYdX against Aster−0.346%49s7-day average — · you buy dearer than you sell

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

Long on Aster Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and dYdX is 0.346% cheaper against Aster than usual: you would sell low and buy high (−$35 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 49 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	Aster 1000PEPEUSDT	0.000005019	0.0738	pay 0.0738% / 8h	5h 05m	$1.8M	$9.2M	50x
Short	dYdX PEPE-USD	0.000005002	0	get 0.0000% / 1h	5m 50s	$18K	$95	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Aster. 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 AsterbpFee dYdXbpOrdersPrice spread, now −0.346%Rate

Funding earned: −$154.91
Price spread: −0.346% → 0.000%: −$34.55
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$207.46
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 3 min ago; dYdX: 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 Aster live order book, 3 min ago	2.00 bp	10.4 bp −$10	18.0 bp −$180	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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-USDshort	0.0000%	1h	0.000005002	−0.346%	$18K	$95	10x
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005007	−0.243%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005007	−0.237%	$63K	$139K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005024	+0.104%	$97.9M	$341.3M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005026	+0.142%	$165.1M	$75.7M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005026	+0.144%	$25.9M	$63.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005009	−0.207%	$672K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005010	−0.171%	$27K	$444K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005022	+0.058%	$1K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005017	−0.040%	$571K	$3.6M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PEPEUSDT	+0.0138%	8h	0.000005025	+0.114%	$46.0M	$173.2M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005013	−0.110%	$8K	—	15x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0319%	8h	0.000005013	−0.121%	$33K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0348%	8h	0.000005030	+0.221%	$45.7M	$588.9M	50x	as long as short
BloFin PEPE-USDT	+0.0469%	8h	0.000005018	−0.018%	$4.3M	$25.1M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0490%	1h	0.000005015	−0.078%	$2K	$12K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0530%	1h	0.000005007	−0.237%	$99K	$750K	25x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0549%	1h	0.000005010	−0.177%	$71K	$124K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0576%	1h	0.000005017	−0.038%	$941K	$31.4M	50x	as long as short
BingX 1000PEPE-USDT	+0.0611%	8h	0.000005028	+0.182%	—	$261.3M	—	as long as short
Aevo 1000PEPE-PERP	+0.0640%	1h	0.000005003	−0.317%	$141K	—	3x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0641% / S −0.1031%	1h	0.000005000	−0.376%	$49K	—	100x	as long as short
MEXC PEPE_USDT	+0.0642%	8h	0.000005029	+0.205%	$94.5M	$290.7M	300x	as long as short
Binance 1000PEPEUSDT	+0.0647%	8h	0.000005031	+0.236%	$140.9M	$1.21B	75x	as long as short
Extended 1000PEPE-USD	+0.0648%	1h	0.000005028	+0.173%	$530K	$226K	25x	as long as short
Aster 1000PEPEUSDTlong	+0.0738%	8h	0.000005019	long leg	$1.8M	$9.2M	50x
Phemex u1000PEPEUSDT	+0.0756%	8h	0.000005017	−0.030%	$2.4M	$7.1M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0784%	8h	0.000005009	−0.196%	$6K	—	20x	as long as short
Nado kPEPE-PERP	+0.0786%	1h	0.000005011	−0.157%	$185K	$871K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0948%	1h	0.000005022	+0.058%	$93K	$631K	15x	as long as short
01 Exchange kPEPEUSD	+0.0960%	1h	0.000005014	−0.097%	$605	$3K	10x	as long as short
Injective PEPE/USDC PERP	+0.0973%	1h	0.000005011	−0.157%	$4K	$102K	12x	as long as short
Lighter 1000PEPE	+0.1184%	1h	0.000005016	−0.058%	$658K	$8.1M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1387%	1h	0.000005015	−0.080%	$4.3M	$15.3M	50x	as long as short
Hyperliquid kPEPE	+0.1564%	1h	0.000005026	+0.142%	$53.7M	$139.6M	10x	as long as short