Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0166%/8h= +18.2% APRpaid last 24h −0.054%

Price spread now: Paradex against Deribit+0.129%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Paradex is 0.129% dearer against Deribit than usual: you sell high and buy low: +$13 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit 1000PEPE_USDC-PERPETUAL	0.000005093	0.0339	pay 0.0042% / 1h	14m 26s	$73K	$127K	25x
Short	Paradex kPEPE-USD-PERP	0.000005100	0.0506	get 0.0506% / 8h	1h 14m	$6K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Deribit. 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 DeribitbpFee ParadexbpOrdersPrice spread, now +0.129%Rate

Funding earned: $34.89
Price spread: +0.129% → 0.000%: $12.88
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: $36.77
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Deribit: live order book, 59 min ago; Paradex: 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 Deribit live order book, 59 min ago	27.35 bp	30.8 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	0.000005108	+0.295%	$9K	$120K	12x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000005090	−0.059%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005088	−0.102%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005099	+0.118%	$59K	$181K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005095	+0.047%	$99.4M	$419.9M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005098	+0.098%	$162.3M	$97.4M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005097	+0.071%	$597K	$5.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005100	+0.131%	$28K	$544K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005104	+0.210%	$2K	$2.7M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005097	+0.069%	$591K	$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	+0.0101%	8h	0.000005104	+0.216%	$25.9M	$72.5M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0135%	1h	0.000005096	+0.059%	$2K	$11K	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005095	+0.041%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0285%	8h	0.000005097	+0.077%	$45.7M	$216.0M	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUALlong	+0.0339%	1h	0.000005093	long leg	$73K	$127K	25x
ApeX Omni 1000PEPEUSDT	+0.0370%	1h	0.000005102	+0.177%	$149K	$829K	25x	as long as short
OKX PEPE-USDT-SWAP	+0.0393%	8h	0.000005099	+0.118%	$47.1M	$724.8M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0394%	8h	0.000005091	−0.029%	$34K	$26K	20x	as long as short
Backpack kPEPE_USDC_PERP	+0.0426%	1h	0.000005101	+0.163%	$74K	$860K	15x	as long as short
Kraken Futures PF_PEPEUSD	+0.0458%	1h	0.000005095	+0.031%	$4.6M	$16.5M	50x	as long as short
Paradex kPEPE-USD-PERPshort	+0.0506%	8h	0.000005100	+0.129%	$6K	—	20x
BloFin PEPE-USDT	+0.0514%	8h	0.000005102	+0.177%	$4.4M	$29.4M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0539%	8h	0.000005094	+0.014%	$2.4M	$8.0M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0624%	1h	0.000005099	+0.118%	$680K	$38.5M	50x	as long as short
01 Exchange kPEPEUSD	+0.0672%	1h	0.000005099	+0.118%	$615	$3K	10x	as long as short
Lighter 1000PEPE	+0.0688%	1h	0.000005101	+0.157%	$607K	$9.1M	10x	as long as short
BingX 1000PEPE-USDC	+0.0731%	8h	0.000005096	+0.055%	—	$2.3M	—	as long as short
Nado kPEPE-PERP	+0.0749%	1h	0.000005100	+0.139%	$164K	$959K	10x	as long as short
Aster 1000PEPEUSDT	+0.0755%	8h	0.000005097	+0.078%	$1.7M	$11.7M	50x	as long as short
Binance 1000PEPEUSDT	+0.0759%	8h	0.000005098	+0.101%	$140.2M	$1.47B	75x	as long as short
Extended 1000PEPE-USD	+0.0760%	1h	0.000005095	+0.043%	$541K	$280K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0760%	1h	0.000005109	+0.314%	$144K	—	3x	as long as short
MEXC PEPE_USDT	+0.0761%	8h	0.000005102	+0.181%	$98.9M	$305.9M	300x	as long as short
Hyperliquid kPEPE	+0.0938%	1h	0.000005101	+0.157%	$52.8M	$156.6M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1130% / S −0.2249%	1h	0.000005000	−1.826%	$63K	—	100x	as long as short