Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0089%/8h= +9.7% APRpaid last 24h +0.026%

Price spread now: Reya against SunX−0.408%50s7-day average — · you buy dearer than you sell

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

Long on SunX 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 airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.408% cheaper against SunX than usual: you would sell low and buy high (spread −0.408% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$41 on $10k: about 15 days of funding at the current rate (+$3 a day). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX 1000PEPE-USDT	0.000004824	0.0100	pay 0.0100% / 8h	43m 30s	$1K	$2.4M	20x
Short	Reya kPEPERUSDPERP	0.000004804	0.0189	get 0.0024% / 1h	43m 30s	$7K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against SunX. 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 SunXbpFee ReyabpOrdersPrice spread, now −0.408%Rate

Funding earned: $18.61
Price spread: −0.408% → 0.000%: −$40.78
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: −$36.16
Costs to cover: 0.140%
Break-even: 20.6 days

Slippage unknown: SunX: live order book, 3 min ago; 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 SunX live order book, 3 min ago	29.19 bp	47.2 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

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
Hyperliquid kPEPE	−0.0250%	1h	0.000004804	−0.408%	$67.5M	$89.0M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004807	−0.349%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004809	−0.301%	$14K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0066%	1h	0.000004810	−0.284%	$3.9M	$13.6M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004809	−0.305%	$59K	$115K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004803	−0.429%	$86.4M	$288.7M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004808	−0.325%	$150.5M	$64.1M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004810	−0.278%	$24.6M	$54.3M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004805	−0.384%	$42.4M	$149.7M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004829	+0.108%	$591K	$4.1M	—	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	0.000004821	−0.064%	$26K	$350K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004820	−0.077%	$101K	$761K	25x	as long as short
SunX 1000PEPE-USDTlong	+0.0100%	8h	0.000004824	long leg	$1K	$2.4M	20x
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004812	−0.243%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004812	−0.240%	$544K	$3.5M	75x	as long as short
Lighter 1000PEPE	+0.0168%	1h	0.000004814	−0.201%	$627K	$6.3M	10x	as long as short
Reya kPEPERUSDPERPshort	+0.0189%	1h	0.000004804	−0.408%	$7K	—	15x
Paradex kPEPE-USD-PERP	+0.0204%	8h	0.000004807	−0.353%	$5K	$16	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0212%	8h	0.000004806	−0.367%	$41.6M	$498.1M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0218%	8h	0.000004810	−0.294%	$2.3M	$6.4M	50x	as long as short
01 Exchange kPEPEUSD	+0.0232%	1h	0.000004806	−0.367%	$551	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0336%	8h	0.000004822	−0.035%	$3.9M	$22.4M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0363% / S −0.0406%	1h	0.000004000	−17.076%	$43K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004814	−0.201%	$570K	$25.8M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0418%	8h	0.000004814	−0.201%	$30K	$12K	20x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004831	+0.151%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0511%	1h	0.000004812	−0.249%	$91K	$601K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0582%	1h	0.000004813	−0.222%	$81K	$94K	25x	as long as short
BingX 1000PEPE-USDT	+0.0657%	8h	0.000004807	−0.352%	—	$256.4M	—	as long as short
Binance 1000PEPEUSDT	+0.0670%	8h	0.000004808	−0.336%	$131.8M	$1.05B	75x	as long as short
Aster 1000PEPEUSDT	+0.0676%	8h	0.000004812	−0.249%	$1.5M	$7.2M	50x	as long as short
MEXC PEPE_USDT	+0.0677%	8h	0.000004810	−0.286%	$93.3M	$279.9M	300x	as long as short
Extended 1000PEPE-USD	+0.0680%	1h	0.000004808	−0.336%	$529K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0680%	1h	0.000004813	−0.222%	$136K	—	3x	as long as short
Nado kPEPE-PERP	+0.0831%	1h	0.000004806	−0.369%	$184K	$848K	10x	as long as short