Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0026%/8h= −2.9% APRpaid last 24h −0.048%

Price spread now: Paradex against 01 Exchange−0.038%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Paradex

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 against this trade now: funding costs −$1 a day on $10k at the current rate, and Paradex is 0.038% cheaper against 01 Exchange than usual: you would sell low and buy high (−$4 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	01 Exchange kPEPEUSD	0.000004781	0.0224	pay 0.0028% / 1h	40m 02s	$548	$2K	10x
Short	Paradex kPEPE-USD-PERP	0.000004779	0.0198	get 0.0198% / 8h	40m 02s	$5K	$16	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against 01 Exchange. 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 01 ExchangebpFee ParadexbpOrdersPrice spread, now −0.038%Rate

Funding earned: −$5.48
Price spread: −0.038% → 0.000%: −$3.83
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$20.31
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; Paradex: 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

01 Exchange and 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
Hyperliquid kPEPE	−0.0194%	1h	0.000004776	−0.105%	$64.9M	$91.3M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004770	−0.233%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004774	−0.155%	$14K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0067%	1h	0.000004777	−0.093%	$3.8M	$13.6M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004780	−0.021%	$59K	$115K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004775	−0.130%	$85.9M	$289.3M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004774	−0.146%	$149.5M	$64.2M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004777	−0.084%	$24.5M	$54.3M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004777	−0.082%	$42.2M	$150.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004793	+0.249%	$587K	$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	+0.829%	$26K	$350K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004820	+0.816%	$101K	$761K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004780	−0.017%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004776	−0.105%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004780	−0.019%	$541K	$3.5M	75x	as long as short
Lighter 1000PEPE	+0.0176%	1h	0.000004780	−0.021%	$606K	$6.3M	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004776	−0.095%	$7K	—	15x	as long as short
Paradex kPEPE-USD-PERPshort	+0.0198%	8h	0.000004779	−0.038%	$5K	$16	20x
Phemex u1000PEPEUSDT	+0.0210%	8h	0.000004778	−0.054%	$2.3M	$6.4M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0212%	8h	0.000004779	−0.042%	$41.4M	$496.4M	50x	as long as short
01 Exchange kPEPEUSDlong	+0.0224%	1h	0.000004781	long leg	$548	$2K	10x
BloFin PEPE-USDT	+0.0332%	8h	0.000004795	+0.293%	$3.9M	$22.3M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0368% / S −0.0415%	1h	0.000004000	−16.335%	$42K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004783	+0.042%	$577K	$25.6M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0409%	8h	0.000004778	−0.056%	$30K	$12K	20x	as long as short
Backpack kPEPE_USDC_PERP	+0.0426%	1h	0.000004777	−0.073%	$91K	$601K	15x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004797	+0.335%	$4K	$102K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0588%	1h	0.000004778	−0.063%	$81K	$94K	25x	as long as short
Extended 1000PEPE-USD	+0.0656%	1h	0.000004776	−0.101%	$526K	$148K	25x	as long as short
BingX 1000PEPE-USDC	+0.0656%	8h	0.000004776	−0.111%	—	$2.3M	—	as long as short
Binance 1000PEPEUSDT	+0.0656%	8h	0.000004778	−0.056%	$131.0M	$1.06B	75x	as long as short
Aster 1000PEPEUSDT	+0.0662%	8h	0.000004778	−0.058%	$1.5M	$7.2M	50x	as long as short
MEXC PEPE_USDT	+0.0663%	8h	0.000004778	−0.063%	$92.5M	$280.3M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0664%	1h	0.000004780	−0.021%	$135K	—	3x	as long as short
Nado kPEPE-PERP	+0.0811%	1h	0.000004782	+0.016%	$183K	$849K	10x	as long as short