Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0089%/8h= +9.7% APRpaid last 24h +0.026%

Price spread now: Reya against edgeX−0.149%65s7-day average — · you buy dearer than you sell

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

Long on edgeX 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 airdropedgeX: Active · Reya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.149% cheaper against edgeX than usual: you would sell low and buy high (spread −0.149% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 5.6 days of funding at the current rate (+$3 a day). The two prices were read 65 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	edgeX 1000PEPEUSDC	0.000004796	0.0100	pay 0.0050% / 4h	38m 23s	$26K	$348K	20x
Short	Reya kPEPERUSDPERP	0.000004789	0.0189	get 0.0024% / 1h	38m 23s	$7K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against edgeX. 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 edgeXbpFee ReyabpOrdersPrice spread, now −0.149%Rate

Funding earned: $18.61
Price spread: −0.149% → 0.000%: −$14.94
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Reya: 3 bp × 2 orders: −$6
Net: −$11.32
Costs to cover: 0.150%
Break-even: 11.3 days

Slippage unknown: edgeX: live order book, 40 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 edgeX live order book, 40 min ago	1.04 bp	5.7 bp −$6	10.0 bp −$100	doesn't fit	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
Hyperliquid kPEPE	−0.0153%	1h	0.000004786	−0.212%	$65.1M	$91.6M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004782	−0.296%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004783	−0.270%	$14K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0067%	1h	0.000004787	−0.182%	$3.8M	$13.6M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004784	−0.253%	$59K	$116K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004786	−0.209%	$86.0M	$289.4M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004786	−0.212%	$149.7M	$64.2M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004791	−0.114%	$24.5M	$54.4M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004788	−0.164%	$42.3M	$150.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004793	−0.068%	$587K	$4.1M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX 1000PEPEUSDClong	+0.0100%	4h	0.000004796	long leg	$26K	$348K	20x
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004796	−0.003%	$101K	$760K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004794	−0.053%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004787	−0.191%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004793	−0.074%	$543K	$3.5M	75x	as long as short
Reya kPEPERUSDPERPshort	+0.0189%	1h	0.000004789	−0.149%	$7K	—	15x
Phemex u1000PEPEUSDT	+0.0190%	8h	0.000004790	−0.134%	$2.3M	$6.4M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0194%	8h	0.000004786	−0.212%	$5K	$16	20x	as long as short
Lighter 1000PEPE	+0.0200%	1h	0.000004787	−0.191%	$607K	$6.3M	10x	as long as short
OKX PEPE-USDT-SWAP	+0.0210%	8h	0.000004790	−0.128%	$41.5M	$497.5M	50x	as long as short
01 Exchange kPEPEUSD	+0.0240%	1h	0.000004792	−0.086%	$549	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0332%	8h	0.000004791	−0.107%	$3.9M	$22.3M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0371% / S −0.0419%	1h	0.000004000	−16.600%	$42K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004792	−0.086%	$577K	$25.7M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0405%	8h	0.000004790	−0.132%	$30K	$12K	20x	as long as short
Backpack kPEPE_USDC_PERP	+0.0426%	1h	0.000004790	−0.122%	$91K	$601K	15x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004798	+0.039%	$4K	$102K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0586%	1h	0.000004788	−0.170%	$77K	$98K	25x	as long as short
Extended 1000PEPE-USD	+0.0648%	1h	0.000004787	−0.201%	$526K	$148K	25x	as long as short
MEXC PEPE_USDT	+0.0648%	8h	0.000004790	−0.126%	$92.3M	$280.4M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0648%	1h	0.000004786	−0.212%	$135K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0649%	8h	0.000004785	−0.229%	$131.0M	$1.06B	75x	as long as short
Aster 1000PEPEUSDT	+0.0653%	8h	0.000004789	−0.141%	$1.5M	$7.2M	50x	as long as short
BingX 1000PEPE-USDC	+0.0656%	8h	0.000004783	−0.278%	—	$2.3M	—	as long as short
Nado kPEPE-PERP	+0.0767%	1h	0.000004791	−0.097%	$183K	$849K	10x	as long as short