Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0269%/8h= +29.5% APRpaid last 24h +0.046%

Price spread now: Backpack against Paradex+0.135%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Backpack is 0.135% dearer against Paradex than usual: you sell high and buy low: +$14 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	Paradex kPEPE-USD-PERP	0.000004807	0.0290	pay 0.0290% / 8h	1h 14m	$5K	$16	20x
Short	Backpack kPEPE_USDC_PERP	0.000004813	0.0559	get 0.0070% / 1h	14m 54s	$93K	$614K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Paradex. 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 ParadexbpFee BackpackbpOrdersPrice spread, now +0.135%Rate

Funding earned: $56.53
Price spread: +0.135% → 0.000%: $13.5
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Backpack: 5 bp × 2 orders: −$10
Net: $56.03
Costs to cover: 0.140%
Break-even: 0.1 days

Slippage unknown: Paradex: no order-book sample; Backpack: 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 Paradex no order-book sample	—	—	—	—	—
Sell Backpack live order book, 4 min ago	3.23 bp	8.3 bp −$8	25.8 bp −$258	doesn't fit	doesn't fit

Paradex: 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-USD	0.0000%	1h	0.000004797	−0.205%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004806	−0.015%	$14K	—	150x	as long as short
Lighter 1000PEPE	+0.0096%	1h	0.000004810	+0.068%	$675K	$5.9M	10x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004807	+0.006%	$62.3M	$82.2M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004799	−0.160%	$59K	$114K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004811	+0.089%	$87.0M	$282.4M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004806	−0.015%	$150.1M	$63.3M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004810	+0.068%	$24.8M	$53.9M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004782	−0.516%	$541K	$4.0M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004784	−0.468%	$27K	$345K	20x	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	0.000004818	+0.237%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004813	+0.131%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004802	−0.096%	$541K	$3.5M	75x	as long as short
Bitget PEPEUSDT	+0.0121%	8h	0.000004808	+0.019%	$42.3M	$148.8M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004813	+0.136%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0214%	8h	0.000004814	+0.152%	$41.7M	$493.0M	50x	as long as short
Paradex kPEPE-USD-PERPlong	+0.0290%	8h	0.000004807	long leg	$5K	$16	20x
GMX PEPE/USD [ETH-USDC]	L +0.0322% / S −0.0344%	1h	0.000004000	−16.783%	$43K	—	100x	as long as short
BloFin PEPE-USDT	+0.0337%	8h	0.000004812	+0.110%	$3.9M	$22.2M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0352%	8h	0.000004810	+0.058%	$2.3M	$6.4M	50x	as long as short
01 Exchange kPEPEUSD	+0.0416%	1h	0.000004811	+0.089%	$551	$2K	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0448%	1h	0.000004816	+0.193%	$585K	$25.5M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0451%	8h	0.000004813	+0.135%	$29K	$11K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0471%	1h	0.000004779	−0.576%	$102K	$763K	25x	as long as short
Backpack kPEPE_USDC_PERPshort	+0.0559%	1h	0.000004813	+0.135%	$93K	$614K	15x
BingX 1000PEPE-USDC	+0.0749%	8h	0.000004803	−0.073%	—	$2.3M	—	as long as short
Nado kPEPE-PERP	+0.0753%	1h	0.000004809	+0.053%	$185K	$845K	10x	as long as short
MEXC PEPE_USDT	+0.0765%	8h	0.000004812	+0.110%	$91.6M	$285.6M	300x	as long as short
Binance 1000PEPEUSDT	+0.0766%	8h	0.000004814	+0.145%	$130.7M	$1.04B	75x	as long as short
Extended 1000PEPE-USD	+0.0768%	1h	0.000004809	+0.045%	$529K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0768%	1h	0.000004801	−0.119%	$136K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0780%	8h	0.000004811	+0.087%	$1.5M	$7.1M	50x	as long as short
Injective PEPE/USDC PERP	+0.0873%	1h	0.000004785	−0.452%	$4K	$103K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0998%	1h	0.000004813	+0.131%	$81K	$94K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.1325%	1h	0.000004814	+0.154%	$3.9M	$13.3M	50x	as long as short