Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0094%/8h= −10.3% APRpaid last 24h +0.027%

Price spread now: Reya against Bitget−0.090%59s7-day average — · you buy dearer than you sell

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

Long on Bitget Short on Reya

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—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Reya is 0.090% cheaper against Bitget than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 59 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	Bitget PEPEUSDT	0.000005169	0.0283	pay 0.0283% / 8h	1h 00m	$46.3M	$216.6M	75x
Short	Reya kPEPERUSDPERP	0.000005164	0.0189	get 0.0024% / 1h	0m 32s	$8K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Bitget. 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 BitgetbpFee ReyabpOrdersPrice spread, now −0.090%Rate

Funding earned: −$19.74
Price spread: −0.090% → 0.000%: −$8.96
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$46.7
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 4 min ago; Reya: 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 Bitget live order book, 4 min ago	0.87 bp	10.4 bp −$10	12.5 bp −$125	24.6 bp −$2,463	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	0.000005162	−0.133%	$8K	$120K	12x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000005164	−0.095%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005161	−0.157%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005169	+0.002%	$60K	$182K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005163	−0.114%	$101.1M	$422.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005169	+0.002%	$164.5M	$97.9M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005174	+0.091%	$606K	$5.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005170	+0.017%	$28K	$545K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005170	+0.021%	$1K	$2.7M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005178	+0.170%	$601K	$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	+0.0109%	8h	0.000005174	+0.099%	$26.5M	$72.7M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0180%	1h	0.000005175	+0.118%	$2K	$11K	10x	as long as short
Reya kPEPERUSDPERPshort	+0.0189%	1h	0.000005164	−0.090%	$8K	—	15x
Bitget PEPEUSDTlong	+0.0283%	8h	0.000005169	long leg	$46.3M	$216.6M	75x
OKX PEPE-USDT-SWAP	+0.0399%	8h	0.000005165	−0.075%	$47.8M	$738.2M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0402%	8h	0.000005167	−0.031%	$34K	$26K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0441%	1h	0.000005174	+0.099%	$150K	$830K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0451%	1h	0.000005177	+0.148%	$4.7M	$16.5M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0471%	1h	0.000005175	+0.118%	$76K	$867K	15x	as long as short
BloFin PEPE-USDT	+0.0518%	8h	0.000005178	+0.176%	$4.4M	$30.0M	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0521%	8h	0.000005170	+0.022%	$6K	—	20x	as long as short
Phemex u1000PEPEUSDT	+0.0522%	8h	0.000005176	+0.137%	$2.4M	$8.1M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0624%	1h	0.000005171	+0.041%	$698K	$39.1M	50x	as long as short
01 Exchange kPEPEUSD	+0.0680%	1h	0.000005180	+0.215%	$625	$3K	10x	as long as short
Nado kPEPE-PERP	+0.0705%	1h	0.000005167	−0.042%	$165K	$954K	10x	as long as short
BingX 1000PEPE-USDT	+0.0723%	8h	0.000005174	+0.101%	—	$218.2M	—	as long as short
Lighter 1000PEPE	+0.0728%	1h	0.000005174	+0.099%	$618K	$9.1M	10x	as long as short
Aster 1000PEPEUSDT	+0.0745%	8h	0.000005172	+0.060%	$1.8M	$11.7M	50x	as long as short
Extended 1000PEPE-USD	+0.0752%	1h	0.000005173	+0.070%	$542K	$286K	25x	as long as short
MEXC PEPE_USDT	+0.0755%	8h	0.000005170	+0.031%	$100.8M	$307.6M	300x	as long as short
Binance 1000PEPEUSDT	+0.0758%	8h	0.000005169	−0.003%	$142.2M	$1.47B	75x	as long as short
Aevo 1000PEPE-PERP	+0.0760%	1h	0.000005163	−0.114%	$146K	—	3x	as long as short
Hyperliquid kPEPE	+0.0959%	1h	0.000005176	+0.137%	$53.8M	$157.0M	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.1106%	1h	0.000005171	+0.041%	$74K	$127K	25x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1133% / S −0.2249%	1h	0.000005000	−3.268%	$64K	—	100x	as long as short