Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0363%/8h= +39.8% APRpaid last 24h +0.013%

Price spread now: Extended against Paradex−0.198%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 Extended

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 · Extended: Active · farm boardneeds both histories

Funding pays, the price is against you. Extended is 0.198% cheaper against Paradex than usual: you would sell low and buy high (spread −0.198% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$20 on $10k: about 44 hours of funding at the current rate (+$11 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex kPEPE-USD-PERP	0.000004824	0.0173	pay 0.0173% / 8h	7h 50m	$5K	$16	20x
Short	Extended 1000PEPE-USD	0.000004815	0.0536	get 0.0067% / 1h	50m 24s	$529K	$148K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.198%Rate

Funding earned: $76.3
Price spread: −0.198% → 0.000%: −$19.79
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $47.51
Costs to cover: 0.090%
Break-even: 2.6 days

Slippage unknown: Paradex: no order-book sample; Extended: live order book, 22 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 Extended live order book, 22 min ago	3.17 bp	7.8 bp −$8	46.4 bp −$464	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
Kraken Futures PF_PEPEUSD	−0.0121%	1h	0.000004818	−0.138%	$3.9M	$14.0M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004823	−0.026%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004815	−0.204%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004818	−0.134%	$65.8M	$105.2M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004827	+0.053%	$57K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004812	−0.258%	$88.6M	$298.4M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004817	−0.155%	$153.3M	$64.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004820	−0.090%	$24.1M	$55.3M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004816	−0.169%	$42.6M	$151.7M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004819	−0.118%	$555K	$4.2M	—	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	0.000004812	−0.253%	$26K	$351K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004826	+0.032%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004818	−0.134%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004817	−0.159%	$547K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000004826	+0.028%	$2.3M	$6.5M	50x	as long as short
Lighter 1000PEPE	+0.0104%	1h	0.000004830	+0.115%	$588K	$6.6M	10x	as long as short
Paradex kPEPE-USD-PERPlong	+0.0173%	8h	0.000004824	long leg	$5K	$16	20x
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004819	−0.116%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0189%	8h	0.000004818	−0.134%	$43.0M	$508.8M	50x	as long as short
BloFin PEPE-USDT	+0.0311%	8h	0.000004825	+0.011%	$3.9M	$22.9M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0322%	8h	0.000004818	−0.126%	$30K	$13K	20x	as long as short
01 Exchange kPEPEUSD	+0.0344%	1h	0.000004826	+0.032%	$1K	$2K	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000004819	−0.113%	$554K	$26.0M	50x	as long as short
Nado kPEPE-PERP	+0.0381%	1h	0.000004820	−0.096%	$181K	$848K	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0431% / S −0.0631%	1h	0.000004000	−17.089%	$45K	—	100x	as long as short
BingX 1000PEPE-USDC	+0.0520%	8h	0.000004818	−0.138%	—	$2.3M	—	as long as short
MEXC PEPE_USDT	+0.0535%	8h	0.000004822	−0.053%	$92.6M	$280.1M	300x	as long as short
Binance 1000PEPEUSDT	+0.0536%	8h	0.000004820	−0.084%	$136.8M	$1.08B	75x	as long as short
Extended 1000PEPE-USDshort	+0.0536%	1h	0.000004815	−0.198%	$529K	$148K	25x
Aevo 1000PEPE-PERP	+0.0536%	1h	0.000004816	−0.175%	$136K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0541%	8h	0.000004827	+0.062%	$1.5M	$7.4M	50x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000004831	+0.136%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0696%	1h	0.000004825	+0.005%	$93K	$602K	15x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0787%	1h	0.000004817	−0.155%	$100K	$754K	25x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0789%	1h	0.000004817	−0.155%	$78K	$98K	25x	as long as short