Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.7664%/8h= +839.2% APRpaid last 24h −0.034%

Price spread now: dYdX against KuCoin−0.054%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on dYdX

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

Funding pays, the price is against you. dYdX is 0.054% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.054% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about under an hour of funding at the current rate (+$230 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PEPEUSDTM	0.000005008	0.0123	pay 0.0123% / 8h	6h 56m	$25.6M	$75.9M	75x
Short	dYdX PEPE-USD	0.000005005	0.7787	get 0.0973% / 1h	56m 17s	$25K	$12K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against KuCoin. 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 KuCoinbpFee dYdXbpOrdersPrice spread, now −0.054%Rate

Funding earned: $1,609.37
Price spread: −0.054% → 0.000%: −$5.39
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: $1,581.98
Costs to cover: 0.220%
Break-even: 0.1 days

Slippage unknown: KuCoin: 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 KuCoin live order book, 3 min ago	0.30 bp	16.4 bp −$16	33.3 bp −$333	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
Deribit 1000PEPE_USDC-PERPETUAL	0.0000%	1h	0.000005004	−0.074%	$57K	$139K	25x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005002	−0.112%	$3K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0026%	1h	0.000005003	−0.098%	$4.6M	$16.7M	50x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000005008	+0.006%	$51.6M	$161.9M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005008	+0.006%	$58K	$197K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005002	−0.112%	$96.3M	$447.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005006	−0.034%	$160.1M	$100.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004998	−0.202%	$653K	$5.4M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004997	−0.206%	$27K	$570K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000005009	+0.026%	$146K	$846K	25x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005009	+0.030%	$2K	$2.6M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000005005	−0.054%	$2K	$11K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005006	−0.034%	$585K	$4.2M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0110%	8h	0.000005003	−0.102%	$2.3M	$8.0M	50x	as long as short
Bitget PEPEUSDT	+0.0120%	8h	0.000005006	−0.032%	$44.6M	$225.9M	75x	as long as short
KuCoin PEPEUSDTMlong	+0.0123%	8h	0.000005008	long leg	$25.6M	$75.9M	75x
Lighter 1000PEPE	+0.0128%	1h	0.000005006	−0.034%	$591K	$9.0M	10x	as long as short
01 Exchange kPEPEUSD	+0.0136%	1h	0.000005005	−0.054%	$604	$2K	10x	as long as short
Nado kPEPE-PERP	+0.0186%	1h	0.000005006	−0.033%	$152K	$948K	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005003	−0.100%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0268%	8h	0.000005003	−0.094%	$45.7M	$742.4M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0269%	8h	0.000005010	+0.039%	$6K	—	20x	as long as short
Injective PEPE/USDC PERP	+0.0363%	1h	0.000005011	+0.066%	$6K	$121K	12x	as long as short
BloFin PEPE-USDT	+0.0393%	8h	0.000005018	+0.206%	$4.4M	$30.2M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0429%	8h	0.000005006	−0.034%	$32K	$31K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000005004	−0.074%	$664K	$39.3M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0496%	1h	0.000005019	+0.228%	$66K	$959K	15x	as long as short
Extended 1000PEPE-USD	+0.0544%	1h	0.000005003	−0.094%	$525K	$288K	25x	as long as short
MEXC PEPE_USDT	+0.0546%	8h	0.000005003	−0.086%	$100.4M	$303.2M	300x	as long as short
Binance 1000PEPEUSDT	+0.0547%	8h	0.000005006	−0.036%	$131.7M	$1.54B	75x	as long as short
Aevo 1000PEPE-PERP	+0.0552%	1h	0.000005031	+0.465%	$142K	—	3x	as long as short
BingX 1000PEPE-USDC	+0.0563%	8h	0.000005002	−0.106%	—	$2.3M	—	as long as short
Aster 1000PEPEUSDT	+0.0567%	8h	0.000005009	+0.034%	$1.8M	$12.3M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0926% / S −0.1034%	1h	0.000005000	−0.154%	$50K	—	100x	as long as short
dYdX PEPE-USDshort	+0.7787%	1h	0.000005005	−0.054%	$25K	$12K	10x