Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0597%/8h= −65.4% APRpaid last 24h −0.014%

Price spread now: Reya against Paradex−0.148%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 Reya

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 · Reya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and Reya is 0.148% cheaper against Paradex than usual: you would sell low and buy high (−$15 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	0.000005299	0.0786	pay 0.0786% / 8h	3h 42m	$6K	—	20x
Short	Reya kPEPERUSDPERP	0.000005292	0.0189	get 0.0024% / 1h	42m 25s	$8K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.148%Rate

Funding earned: −$125.37
Price spread: −0.148% → 0.000%: −$14.85
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Reya: 3 bp × 2 orders: −$6
Net: −$150.21
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Reya: 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 Paradex no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

Paradex and Reya: 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	0.000005295	−0.083%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005313	+0.258%	$15K	—	150x	as long as short
Injective PEPE/USDC PERP	+0.0092%	1h	0.000005327	+0.520%	$3K	$111K	12x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005305	+0.105%	$69K	$153K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005289	−0.199%	$107.7M	$375.2M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005296	−0.065%	$175.8M	$86.6M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005309	+0.180%	$26.9M	$67.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005314	+0.267%	$761K	$5.1M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005342	+0.812%	$43K	$498K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005323	+0.439%	$2K	$2.5M	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	0.000005325	+0.479%	$610K	$3.8M	75x	as long as short
Reya kPEPERUSDPERPshort	+0.0189%	1h	0.000005292	−0.148%	$8K	—	15x
Bitget PEPEUSDT	+0.0270%	8h	0.000005292	−0.140%	$51.6M	$188.8M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0381%	8h	0.000005321	+0.411%	$36K	$26K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0429%	8h	0.000005286	−0.254%	$52.2M	$673.1M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0503%	1h	0.000005316	+0.312%	$75K	$126K	25x	as long as short
BloFin PEPE-USDT	+0.0556%	8h	0.000005322	+0.426%	$4.8M	$28.2M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0623%	8h	0.000005320	+0.390%	$2.6M	$7.5M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0662%	1h	0.000005320	+0.388%	$2K	$10K	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0712%	1h	0.000005338	+0.728%	$732K	$36.5M	50x	as long as short
BingX 1000PEPE-USDT	+0.0764%	8h	0.000005301	+0.035%	—	$252.1M	—	as long as short
Paradex kPEPE-USD-PERPlong	+0.0786%	8h	0.000005299	long leg	$6K	—	20x
Aevo 1000PEPE-PERP	+0.0800%	1h	0.000005326	+0.501%	$151K	—	3x	as long as short
MEXC PEPE_USDT	+0.0807%	8h	0.000005302	+0.058%	$103.0M	$293.2M	300x	as long as short
Binance 1000PEPEUSDT	+0.0807%	8h	0.000005302	+0.045%	$154.5M	$1.31B	75x	as long as short
Extended 1000PEPE-USD	+0.0808%	1h	0.000005298	−0.023%	$562K	$226K	25x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0902% / S −0.1770%	1h	0.000005000	−5.650%	$65K	—	100x	as long as short
Nado kPEPE-PERP	+0.0906%	1h	0.000005287	−0.239%	$190K	$916K	10x	as long as short
Aster 1000PEPEUSDT	+0.0938%	8h	0.000005306	+0.116%	$1.9M	$10.0M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.1032%	1h	0.000005324	+0.463%	$176K	$800K	25x	as long as short
01 Exchange kPEPEUSD	+0.1184%	1h	0.000005303	+0.067%	$640	$3K	10x	as long as short
Lighter 1000PEPE	+0.1240%	1h	0.000005308	+0.162%	$690K	$8.6M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.1331%	1h	0.000005320	+0.380%	$72K	$722K	15x	as long as short
Kraken Futures PF_PEPEUSD	+0.1536%	1h	0.000005315	+0.286%	$4.9M	$16.3M	50x	as long as short
Hyperliquid kPEPE	+0.1748%	1h	0.000005298	−0.027%	$58.1M	$144.6M	10x	as long as short