Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.1042%/8hpaid last 24h +0.030%

Price spread now: Kraken Futures against Paradex+0.155%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 Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 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 +$31 a day on $10k at the current rate, and Kraken Futures is 0.155% dearer against Paradex than usual: you sell high and buy low: +$15 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	0.000004939	0.0490	pay 0.0490% / 8h	4h 23m	$6K	$26	20x
Short	Kraken Futures PF_PEPEUSD	0.000004946	0.1532	get 0.0191% / 1h	23m 07s	$4.0M	$11.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.155%Rate

Funding earned: $218.8
Price spread: +0.155% → 0.000%: $15.47
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $220.27
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Kraken Futures: 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 Kraken Futures live order book, 5 min ago	4.99 bp	13.4 bp −$13	17.6 bp −$176	82.2 bp −$8,224	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	0.000004932	−0.136%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0002%	1h	0.000004940	+0.020%	$24K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004938	−0.016%	$59K	$103K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004944	+0.112%	$88.7M	$255.4M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0100%	8h	0.000004952	+0.267%	$43.2M	$481.1M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004945	+0.126%	$150.4M	$58.2M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004945	+0.128%	$25.5M	$45.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004915	−0.472%	$696K	$3.4M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004945	+0.135%	$28K	$329K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004949	+0.207%	$2K	$2.4M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000004947	+0.162%	$572K	$3.7M	75x	as long as short
Bitget PEPEUSDT	+0.0133%	8h	0.000004952	+0.261%	$46.8M	$135.5M	75x	as long as short
Reya kPEPERUSDPERP	+0.0188%	1h	0.000004939	+0.008%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0220%	8h	0.000004946	+0.146%	$4.2M	$21.0M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0274%	8h	0.000004949	+0.209%	$30K	$9K	20x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0277% / S −0.0265%	1h	0.000004000	−19.009%	$44K	—	100x	as long as short
SoDEX 1000PEPE-USD	+0.0290%	1h	0.000004954	+0.308%	$2K	$9K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0311%	1h	0.000004948	+0.186%	$92K	$753K	25x	as long as short
Hyperliquid kPEPE	+0.0444%	1h	0.000004952	+0.267%	$56.5M	$61.5M	10x	as long as short
Paradex kPEPE-USD-PERPlong	+0.0490%	8h	0.000004939	long leg	$6K	$26	20x
Coinbase International 1000PEPE-PERP-INTX	+0.0496%	1h	0.000004947	+0.166%	$636K	$24.9M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0502%	8h	0.000004949	+0.199%	$2.4M	$6.1M	50x	as long as short
Nado kPEPE-PERP	+0.0674%	1h	0.000004939	−0.005%	$197K	$793K	10x	as long as short
Lighter 1000PEPE	+0.0744%	1h	0.000004950	+0.227%	$601K	$5.0M	10x	as long as short
BingX 1000PEPE-USDC	+0.0749%	8h	0.000004951	+0.237%	—	$2.3M	—	as long as short
01 Exchange kPEPEUSD	+0.0760%	1h	0.000004943	+0.085%	$566	$2K	10x	as long as short
Extended 1000PEPE-USD	+0.0792%	1h	0.000004946	+0.136%	$544K	$147K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0792%	1h	0.000004935	−0.077%	$140K	—	3x	as long as short
MEXC PEPE_USDT	+0.0794%	8h	0.000004951	+0.255%	$108.9M	$267.8M	300x	as long as short
Binance 1000PEPEUSDT	+0.0794%	8h	0.000004946	+0.155%	$129.7M	$948.1M	75x	as long as short
Backpack kPEPE_USDC_PERP	+0.0862%	1h	0.000004950	+0.227%	$95K	$572K	15x	as long as short
Aster 1000PEPEUSDT	+0.0909%	8h	0.000004943	+0.084%	$1.5M	$6.4M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0964%	1h	0.000004947	+0.166%	$84K	$86K	25x	as long as short
Kraken Futures PF_PEPEUSDshort	+0.1532%	1h	0.000004946	+0.155%	$4.0M	$11.9M	50x
Injective PEPE/USDC PERP	+0.2268%	1h	0.000004970	+0.632%	$5K	$68K	12x	as long as short