Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against HTX−0.141%7-day average — · you buy dearer than you sell

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

Long on HTX Short on dYdX

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—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.141% cheaper against HTX than usual: you would sell low and buy high (−$14 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX PEPE-USDT	0.000004827	0.0100	pay 0.0100% / 8h	45m 41s	$547K	$3.5M	75x
Short	dYdX PEPE-USD	0.000004820	0	get 0.0000% / 1h	45m 41s	$18K	$95	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against HTX. 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 HTXbpFee dYdXbpOrdersPrice spread, now −0.141%Rate

Funding earned: −$21
Price spread: −0.141% → 0.000%: −$14.14
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$57.14
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 3 min ago; dYdX: 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 HTX live order book, 3 min ago	5.93 bp	12.1 bp −$12	27.2 bp −$272	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

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
Hyperliquid kPEPE	−0.0235%	1h	0.000004818	−0.180%	$67.4M	$88.6M	10x	as long as short
dYdX PEPE-USDshort	0.0000%	1h	0.000004820	−0.141%	$18K	$95	10x
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004826	−0.012%	$14K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0066%	1h	0.000004824	−0.059%	$3.9M	$13.5M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004823	−0.077%	$59K	$115K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004823	−0.070%	$86.8M	$288.5M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004821	−0.118%	$150.9M	$64.0M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004821	−0.116%	$24.6M	$54.3M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004821	−0.118%	$42.7M	$149.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004816	−0.224%	$585K	$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 1000PEPEUSDC	+0.0100%	4h	0.000004811	−0.316%	$26K	$348K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004822	−0.097%	$101K	$760K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004830	+0.077%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004825	−0.035%	$2K	$12K	10x	as long as short
HTX PEPE-USDTlong	+0.0100%	8h	0.000004827	long leg	$547K	$3.5M	75x
Lighter 1000PEPE	+0.0176%	1h	0.000004826	−0.015%	$629K	$6.3M	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004829	+0.048%	$7K	—	15x	as long as short
Paradex kPEPE-USD-PERP	+0.0207%	8h	0.000004817	−0.194%	$5K	$16	20x	as long as short
01 Exchange kPEPEUSD	+0.0208%	1h	0.000004826	−0.015%	$553	$2K	10x	as long as short
OKX PEPE-USDT-SWAP	+0.0213%	8h	0.000004822	−0.097%	$41.7M	$499.3M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0215%	8h	0.000004820	−0.131%	$2.3M	$6.4M	50x	as long as short
BloFin PEPE-USDT	+0.0338%	8h	0.000004808	−0.387%	$3.8M	$22.4M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0361% / S −0.0402%	1h	0.000004000	−17.128%	$43K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004832	+0.110%	$568K	$25.8M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0422%	8h	0.000004827	+0.017%	$30K	$12K	20x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004819	−0.160%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0551%	1h	0.000004823	−0.079%	$91K	$601K	15x	as long as short
BingX 1000PEPE-USDC	+0.0668%	8h	0.000004818	−0.182%	—	$2.3M	—	as long as short
Extended 1000PEPE-USD	+0.0680%	1h	0.000004820	−0.135%	$529K	$148K	25x	as long as short
MEXC PEPE_USDT	+0.0680%	8h	0.000004822	−0.099%	$93.6M	$279.8M	300x	as long as short
Binance 1000PEPEUSDT	+0.0680%	8h	0.000004824	−0.053%	$132.4M	$1.05B	75x	as long as short
Aster 1000PEPEUSDT	+0.0686%	8h	0.000004827	+0.006%	$1.5M	$7.2M	50x	as long as short
Aevo 1000PEPE-PERP	+0.0688%	1h	0.000004828	+0.027%	$136K	—	3x	as long as short
Nado kPEPE-PERP	+0.0794%	1h	0.000004829	+0.048%	$185K	$847K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0994%	1h	0.000004829	+0.048%	$82K	$94K	25x	as long as short