Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0475%/8h= +52.0% APRpaid last 24h +0.037%

Price spread now: SoDEX against Bitget−0.090%7-day average — · you buy dearer than you sell

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

Long on Bitget 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 0.090% cheaper against Bitget than usual: you would sell low and buy high (spread −0.090% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 15 hours of funding at the current rate (+$14 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PEPEUSDT	0.000005019	0.0100	pay 0.0100% / 8h	6h 41m	$44.5M	$158.7M	75x
Short	SoDEX 1000PEPE-USD	0.000005015	0.0575	get 0.0072% / 1h	41m 56s	$2K	$12K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Bitget. 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 BitgetbpFee SoDEXbpOrdersPrice spread, now −0.090%Rate

Funding earned: $99.81
Price spread: −0.090% → 0.000%: −$8.97
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $70.84
Costs to cover: 0.200%
Break-even: 2.0 days

Slippage unknown: Bitget: live order book, 2 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 Bitget live order book, 2 min ago	1.88 bp	10.4 bp −$10	17.0 bp −$170	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	0.000005009	−0.205%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005009	−0.213%	$3K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005017	−0.050%	$62K	$125K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005015	−0.082%	$97.0M	$320.1M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005015	−0.090%	$159.5M	$69.9M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005012	−0.143%	$25.0M	$59.4M	75x	as long as short
Bitget PEPEUSDTlong	+0.0100%	8h	0.000005019	long leg	$44.5M	$158.7M	75x
Variational Omni 1000PEPE	+0.0100%	8h	0.000005015	−0.095%	$559K	$4.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005028	+0.168%	$46K	$388K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005023	+0.072%	$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	0.000005008	−0.233%	$562K	$3.6M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0119%	8h	0.000005009	−0.207%	$2.4M	$6.8M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0158%	1h	0.000005031	+0.229%	$107K	$752K	25x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005019	−0.014%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0211%	8h	0.000005020	+0.010%	$44.4M	$557.8M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0275%	8h	0.000005018	−0.024%	$33K	$23K	20x	as long as short
BloFin PEPE-USDT	+0.0318%	8h	0.000005008	−0.229%	$4.2M	$24.6M	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0349%	1h	0.000005014	−0.110%	$61K	$114K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0424%	1h	0.000005024	+0.090%	$654K	$28.8M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0441%	8h	0.000005018	−0.020%	$6K	$16	20x	as long as short
BingX 1000PEPE-USDC	+0.0457%	8h	0.000005015	−0.088%	—	$2.3M	—	as long as short
Aevo 1000PEPE-PERP	+0.0488%	1h	0.000005019	−0.010%	$142K	—	3x	as long as short
MEXC PEPE_USDT	+0.0492%	8h	0.000005021	+0.028%	$95.1M	$288.4M	300x	as long as short
Binance 1000PEPEUSDT	+0.0492%	8h	0.000005020	+0.004%	$140.3M	$1.16B	75x	as long as short
Extended 1000PEPE-USD	+0.0496%	1h	0.000005019	−0.007%	$552K	$199K	25x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0506% / S −0.0383%	1h	0.000005000	−0.388%	$65K	—	100x	as long as short
SoDEX 1000PEPE-USDshort	+0.0575%	1h	0.000005015	−0.090%	$2K	$12K	10x
Aster 1000PEPEUSDT	+0.0577%	8h	0.000005016	−0.064%	$1.7M	$8.0M	50x	as long as short
Nado kPEPE-PERP	+0.0645%	1h	0.000005022	+0.056%	$178K	$884K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0831%	1h	0.000005013	−0.124%	$3.9M	$14.4M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0908%	1h	0.000005023	+0.062%	$102K	$626K	15x	as long as short
Injective PEPE/USDC PERP	+0.0909%	1h	0.000005053	+0.667%	$4K	$102K	12x	as long as short
01 Exchange kPEPEUSD	+0.0968%	1h	0.000005029	+0.189%	$1K	$2K	10x	as long as short
Lighter 1000PEPE	+0.1280%	1h	0.000005019	−0.010%	$654K	$6.8M	10x	as long as short
Hyperliquid kPEPE	+0.2463%	1h	0.000005030	+0.209%	$55.6M	$135.1M	10x	as long as short