Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0549%/8h= +60.1% APRpaid last 24h +0.075%

Price spread now: BloFin against dYdX+0.576%92s7-day average — · you sell dearer than you buy

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

Long on dYdX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 6 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 for this trade now. Funding pays +$16 a day on $10k at the current rate, and BloFin is 0.576% dearer against dYdX than usual: you sell high and buy low: +$58 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 92 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	dYdX PEPE-USD	0.000005129	0	get 0.0000% / 1h	5m 28s	$19K	$95	10x
Short	BloFin PEPE-USDT	0.000005159	0.0549	get 0.0549% / 8h	2h 05m	$4.3M	$29.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against dYdX. 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 dYdXbpFee BloFinbpOrdersPrice spread, now +0.576%Rate

Funding earned: $115.34
Price spread: +0.576% → 0.000%: $57.56
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $150.9
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: dYdX: no order-book sample; BloFin: live order book, 4 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 dYdX no order-book sample	—	—	—	—	—
Sell BloFin live order book, 4 min ago	8.74 bp	14.7 bp −$15	18.2 bp −$182	31.4 bp −$3,136	76.3 bp −$38.1K

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-USDlong	0.0000%	1h	0.000005129	long leg	$19K	$95	10x
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0007%	1h	0.000005125	−0.095%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005135	+0.108%	$59K	$178K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005124	−0.107%	$100.2M	$410.5M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005129	−0.009%	$162.4M	$95.7M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005126	−0.072%	$26.0M	$71.4M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005136	+0.119%	$614K	$5.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005161	+0.615%	$28K	$539K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005144	+0.285%	$2K	$2.6M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005139	+0.192%	$584K	$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
SoDEX 1000PEPE-USD	+0.0167%	1h	0.000005151	+0.420%	$2K	$11K	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005125	−0.081%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0321%	8h	0.000005124	−0.097%	$45.6M	$212.8M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0382%	8h	0.000005146	+0.330%	$34K	$26K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0421%	8h	0.000005126	−0.068%	$47.5M	$711.4M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0541%	8h	0.000005129	−0.007%	$6K	—	20x	as long as short
BloFin PEPE-USDTshort	+0.0549%	8h	0.000005159	+0.576%	$4.3M	$29.3M	75x
Lighter 1000PEPE	+0.0592%	1h	0.000005134	+0.088%	$619K	$9.1M	10x	as long as short
Phemex u1000PEPEUSDT	+0.0625%	8h	0.000005146	+0.328%	$2.4M	$8.0M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0652%	1h	0.000005146	+0.314%	$67K	$843K	15x	as long as short
Nado kPEPE-PERP	+0.0659%	1h	0.000005125	−0.089%	$160K	$952K	10x	as long as short
01 Exchange kPEPEUSD	+0.0680%	1h	0.000005127	−0.048%	$618	$3K	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0680%	1h	0.000005152	+0.439%	$690K	$38.1M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0722%	1h	0.000005149	+0.381%	$73K	$127K	25x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0737%	1h	0.000005159	+0.576%	$156K	$817K	25x	as long as short
BingX 1000PEPE-USDC	+0.0760%	8h	0.000005129	−0.011%	—	$2.3M	—	as long as short
Binance 1000PEPEUSDT	+0.0793%	8h	0.000005128	−0.035%	$142.6M	$1.43B	75x	as long as short
MEXC PEPE_USDT	+0.0797%	8h	0.000005126	−0.070%	$98.4M	$304.8M	300x	as long as short
Extended 1000PEPE-USD	+0.0800%	1h	0.000005128	−0.022%	$544K	$281K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0800%	1h	0.000005148	+0.361%	$146K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0826%	8h	0.000005128	−0.036%	$1.8M	$11.4M	50x	as long as short
Kraken Futures PF_PEPEUSD	+0.0829%	1h	0.000005149	+0.374%	$4.7M	$16.8M	50x	as long as short
Hyperliquid kPEPE	+0.1023%	1h	0.000005132	+0.049%	$54.8M	$153.7M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1131% / S −0.2351%	1h	0.000005000	−2.524%	$63K	—	100x	as long as short
Injective PEPE/USDC PERP	+0.1379%	1h	0.000005158	+0.556%	$10K	$119K	12x	as long as short