Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.020%

Price spread now: edgeX against dYdX+0.615%7-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 edgeX

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 airdropedgeX: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and edgeX is 0.615% dearer against dYdX than usual: you sell high and buy low: +$61 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	dYdX PEPE-USD	0.000004954	0	get 0.0000% / 1h	31m 13s	$18K	$95	10x
Short	edgeX 1000PEPEUSDC	0.000004984	0.0100	get 0.0050% / 4h	3h 31m	$28K	$333K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.615%Rate

Funding earned: $21
Price spread: +0.615% → 0.000%: $61.48
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $63.48
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: dYdX: no order-book sample; edgeX: live order book, 17 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 edgeX live order book, 17 min ago	1.21 bp	5.8 bp −$6	93.5 bp −$935	doesn't fit	doesn't fit

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	0.000004954	long leg	$18K	$95	10x
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004954	+0.012%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004959	+0.105%	$59K	$106K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004953	−0.014%	$90.0M	$261.9M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0100%	8h	0.000004957	+0.065%	$43.6M	$489.1M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004955	+0.024%	$151.3M	$59.4M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004957	+0.071%	$25.1M	$47.7M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004982	+0.561%	$725K	$3.7M	—	as long as short
edgeX 1000PEPEUSDCshort	+0.0100%	4h	0.000004984	+0.615%	$28K	$333K	20x
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004964	+0.206%	$1K	$2.4M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000004963	+0.178%	$571K	$3.7M	75x	as long as short
Bitget PEPEUSDT	+0.0168%	8h	0.000004955	+0.022%	$46.9M	$138.4M	75x	as long as short
Reya kPEPERUSDPERP	+0.0188%	1h	0.000004958	+0.077%	$7K	—	15x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0197% / S −0.0087%	1h	0.000004000	−19.254%	$55K	—	100x	as long as short
BloFin PEPE-USDT	+0.0220%	8h	0.000004955	+0.024%	$4.1M	$21.5M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0257%	1h	0.000004959	+0.105%	$2K	$9K	10x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0319%	8h	0.000004955	+0.030%	$31K	$10K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0445%	1h	0.000004982	+0.569%	$103K	$757K	25x	as long as short
Phemex u1000PEPEUSDT	+0.0460%	8h	0.000004963	+0.188%	$2.4M	$6.2M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004962	+0.165%	$640K	$25.2M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0475%	8h	0.000004958	+0.087%	$6K	$26	20x	as long as short
Hyperliquid kPEPE	+0.0502%	1h	0.000004957	+0.065%	$56.8M	$63.1M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0549%	1h	0.000004957	+0.073%	$99K	$576K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0557%	1h	0.000004959	+0.105%	$80K	$91K	25x	as long as short
Nado kPEPE-PERP	+0.0710%	1h	0.000004958	+0.080%	$195K	$848K	10x	as long as short
01 Exchange kPEPEUSD	+0.0752%	1h	0.000004959	+0.105%	$568	$2K	10x	as long as short
BingX 1000PEPE-USDT	+0.0779%	8h	0.000004956	+0.050%	—	$252.5M	—	as long as short
Extended 1000PEPE-USD	+0.0816%	1h	0.000004958	+0.086%	$546K	$145K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0816%	1h	0.000004962	+0.165%	$140K	—	3x	as long as short
MEXC PEPE_USDT	+0.0819%	8h	0.000004953	−0.010%	$117.7M	$269.5M	300x	as long as short
Binance 1000PEPEUSDT	+0.0819%	8h	0.000004958	+0.089%	$133.8M	$970.3M	75x	as long as short
Aster 1000PEPEUSDT	+0.0906%	8h	0.000004958	+0.075%	$1.5M	$6.6M	50x	as long as short
Kraken Futures PF_PEPEUSD	+0.0913%	1h	0.000004957	+0.073%	$4.0M	$12.2M	50x	as long as short
Injective PEPE/USDC PERP	+0.1046%	1h	0.000004970	+0.327%	$5K	$81K	12x	as long as short
Lighter 1000PEPE	+0.1080%	1h	0.000004965	+0.226%	$601K	$4.9M	10x	as long as short