Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0132%/8h= −14.5% APRpaid last 24h +0.024%

Price spread now: Coinbase International against Paradex−0.027%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Coinbase International

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 against this trade now: funding costs −$4 a day on $10k at the current rate, and Coinbase International is 0.027% cheaper against Paradex than usual: you would sell low and buy high (−$3 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	Paradex kPEPE-USD-PERP	0.000005103	0.0804	pay 0.0804% / 8h	4h 39m	$6K	—	20x
Short	Coinbase International 1000PEPE-PERP-INTX	0.000005102	0.0672	get 0.0084% / 1h	39m 10s	$973K	$32.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.027%Rate

Funding earned: −$27.82
Price spread: −0.027% → 0.000%: −$2.72
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$44.55
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Coinbase International: live order book, 5 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 Coinbase International live order book, 5 min ago	4.91 bp	11.1 bp −$11	17.2 bp −$172	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	0.000005098	−0.104%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005096	−0.141%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005107	+0.071%	$65K	$141K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005094	−0.188%	$99.6M	$346.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005098	−0.106%	$169.3M	$76.2M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005102	−0.021%	$26.2M	$64.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005091	−0.251%	$688K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005091	−0.252%	$31K	$451K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005109	+0.110%	$2K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005114	+0.212%	$585K	$3.7M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PEPEUSDT	+0.0174%	8h	0.000005101	−0.039%	$46.5M	$175.2M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005099	−0.093%	$8K	—	15x	as long as short
Injective PEPE/USDC PERP	+0.0254%	1h	0.000005044	−1.164%	$3K	$102K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0335%	8h	0.000005101	−0.049%	$33K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0366%	8h	0.000005102	−0.027%	$46.1M	$604.7M	50x	as long as short
BloFin PEPE-USDT	+0.0488%	8h	0.000005096	−0.145%	$4.3M	$25.6M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0584%	8h	0.000005103	−0.008%	$2.4M	$7.1M	50x	as long as short
BingX 1000PEPE-USDT	+0.0647%	8h	0.000005100	−0.057%	—	$261.9M	—	as long as short
Coinbase International 1000PEPE-PERP-INTXshort	+0.0672%	1h	0.000005102	−0.027%	$973K	$32.2M	50x
GMX PEPE/USD [ETH-USDC]	L +0.0675% / S −0.0930%	1h	0.000005000	−2.026%	$46K	—	100x	as long as short
MEXC PEPE_USDT	+0.0694%	8h	0.000005103	−0.012%	$93.7M	$287.7M	300x	as long as short
Extended 1000PEPE-USD	+0.0696%	1h	0.000005098	−0.098%	$541K	$226K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0696%	1h	0.000005091	−0.243%	$144K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0699%	8h	0.000005102	−0.025%	$144.7M	$1.23B	75x	as long as short
SoDEX 1000PEPE-USD	+0.0728%	1h	0.000005100	−0.066%	$2K	$12K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0731%	1h	0.000005100	−0.066%	$72K	$124K	25x	as long as short
Nado kPEPE-PERP	+0.0788%	1h	0.000005103	−0.013%	$199K	$880K	10x	as long as short
Aster 1000PEPEUSDT	+0.0794%	8h	0.000005102	−0.031%	$1.8M	$9.3M	50x	as long as short
Paradex kPEPE-USD-PERPlong	+0.0804%	8h	0.000005103	long leg	$6K	—	20x
ApeX Omni 1000PEPEUSDT	+0.0824%	1h	0.000005099	−0.086%	$101K	$743K	25x	as long as short
Lighter 1000PEPE	+0.0912%	1h	0.000005104	+0.012%	$579K	$8.2M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0948%	1h	0.000005107	+0.067%	$98K	$655K	15x	as long as short
01 Exchange kPEPEUSD	+0.1048%	1h	0.000005119	+0.306%	$617	$3K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1278%	1h	0.000005098	−0.103%	$4.5M	$15.5M	50x	as long as short
Hyperliquid kPEPE	+0.1460%	1h	0.000005114	+0.208%	$54.9M	$140.3M	10x	as long as short