Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0049%/8h= +5.4% APRpaid last 24h +0.054%

Price spread now: SoDEX against Phemex−0.101%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on SoDEX

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—needs both histories

Funding pays, the price is against you. SoDEX is 0.101% cheaper against Phemex than usual: you would sell low and buy high (spread −0.101% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 6.8 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex u1000PEPEUSDT	0.000005342	0.0627	pay 0.0627% / 8h	3h 43m	$2.6M	$7.5M	50x
Short	SoDEX 1000PEPE-USD	0.000005337	0.0676	get 0.0085% / 1h	43m 35s	$2K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Phemex. 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 PhemexbpFee SoDEXbpOrdersPrice spread, now −0.101%Rate

Funding earned: $10.33
Price spread: −0.101% → 0.000%: −$10.11
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$19.77
Costs to cover: 0.200%
Break-even: 20.4 days

Slippage unknown: Phemex: live order book, 5 min ago; SoDEX: 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 Phemex live order book, 5 min ago	6.83 bp	19.6 bp −$20	33.7 bp −$337	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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	0.000005320	−0.418%	$20K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005333	−0.172%	$15K	—	150x	as long as short
Injective PEPE/USDC PERP	+0.0092%	1h	0.000005381	+0.723%	$3K	$111K	12x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005331	−0.213%	$69K	$153K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005319	−0.444%	$108.4M	$374.8M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005320	−0.419%	$176.3M	$86.5M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005333	−0.170%	$27.0M	$67.5M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005314	−0.540%	$761K	$5.1M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005342	+0.001%	$43K	$498K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005342	−0.011%	$1K	$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	0.000005329	−0.251%	$610K	$3.8M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005327	−0.290%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0268%	8h	0.000005333	−0.176%	$52.0M	$188.0M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0380%	8h	0.000005336	−0.127%	$36K	$26K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0428%	8h	0.000005324	−0.344%	$52.5M	$677.3M	50x	as long as short
BloFin PEPE-USDT	+0.0544%	8h	0.000005326	−0.307%	$4.5M	$28.2M	75x	as long as short
Phemex u1000PEPEUSDTlong	+0.0627%	8h	0.000005342	long leg	$2.6M	$7.5M	50x
SoDEX 1000PEPE-USDshort	+0.0676%	1h	0.000005337	−0.101%	$2K	$10K	10x
Coinbase International 1000PEPE-PERP-INTX	+0.0712%	1h	0.000005347	+0.086%	$722K	$36.5M	50x	as long as short
BingX 1000PEPE-USDT	+0.0764%	8h	0.000005332	−0.204%	—	$252.1M	—	as long as short
Paradex kPEPE-USD-PERP	+0.0794%	8h	0.000005329	−0.249%	$6K	—	20x	as long as short
Aevo 1000PEPE-PERP	+0.0800%	1h	0.000005330	−0.232%	$151K	—	3x	as long as short
MEXC PEPE_USDT	+0.0805%	8h	0.000005328	−0.279%	$104.0M	$293.0M	300x	as long as short
Binance 1000PEPEUSDT	+0.0807%	8h	0.000005326	−0.298%	$155.3M	$1.31B	75x	as long as short
Extended 1000PEPE-USD	+0.0808%	1h	0.000005329	−0.251%	$566K	$226K	25x	as long as short
Nado kPEPE-PERP	+0.0875%	1h	0.000005327	−0.285%	$192K	$916K	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0899% / S −0.1763%	1h	0.000005000	−6.409%	$65K	—	100x	as long as short
Aster 1000PEPEUSDT	+0.0938%	8h	0.000005331	−0.206%	$1.9M	$9.9M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.1032%	1h	0.000005324	−0.344%	$176K	$800K	25x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.1063%	1h	0.000005337	−0.101%	$76K	$126K	25x	as long as short
01 Exchange kPEPEUSD	+0.1208%	1h	0.000005333	−0.176%	$643	$3K	10x	as long as short
Lighter 1000PEPE	+0.1248%	1h	0.000005336	−0.120%	$694K	$8.6M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.1330%	1h	0.000005358	+0.286%	$73K	$722K	15x	as long as short
Kraken Futures PF_PEPEUSD	+0.1530%	1h	0.000005335	−0.132%	$4.9M	$16.3M	50x	as long as short
Hyperliquid kPEPE	+0.1772%	1h	0.000005340	−0.045%	$58.6M	$144.5M	10x	as long as short