Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0535%/8h= +58.6% APRpaid last 24h +0.066%

Price spread now: MEXC against dYdX+0.603%47s7-day average — · you sell dearer than you buy

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

Long on dYdX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 5 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

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and MEXC is 0.603% dearer against dYdX than usual: you sell high and buy low: +$60 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 47 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	dYdX PEPE-USD	0.000004822	0	get 0.0000% / 1h	48m 52s	$18K	$95	10x
Short	MEXC PEPE_USDT	0.000004851	0.0535	get 0.0535% / 8h	7h 48m	$93.0M	$280.2M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against dYdX. 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 dYdXbpFee MEXCbpOrdersPrice spread, now +0.603%Rate

Funding earned: $112.35
Price spread: +0.603% → 0.000%: $60.32
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $162.67
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: dYdX: no order-book sample; MEXC: live order book, 10 min ago. 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 dYdX no order-book sample	—	—	—	—	—
Sell MEXC live order book, 10 min ago	0.52 bp	1.5 bp −$2	14.4 bp −$144	49.5 bp −$4,946	77.2 bp −$38.6K

dYdX: 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
Kraken Futures PF_PEPEUSD	−0.0121%	1h	0.000004848	+0.546%	$3.9M	$14.0M	50x	as long as short
dYdX PEPE-USDlong	0.0000%	1h	0.000004822	long leg	$18K	$95	10x
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004840	+0.371%	$15K	—	150x	as long as short
Lighter 1000PEPE	+0.0096%	1h	0.000004849	+0.558%	$590K	$6.6M	10x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004851	+0.599%	$65.8M	$105.9M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004827	+0.101%	$57K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004846	+0.495%	$89.0M	$298.9M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004845	+0.475%	$154.3M	$64.9M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004850	+0.578%	$24.3M	$55.3M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004851	+0.599%	$42.8M	$151.8M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni 1000PEPE	+0.0100%	8h	0.000004819	−0.070%	$555K	$4.2M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004812	−0.204%	$26K	$351K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004844	+0.460%	$2K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004837	+0.298%	$549K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000004841	+0.392%	$2.3M	$6.5M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0109%	1h	0.000004848	+0.537%	$2K	$12K	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0173%	8h	0.000004827	+0.103%	$5K	$16	20x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004836	+0.290%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0191%	8h	0.000004850	+0.578%	$42.9M	$513.2M	50x	as long as short
BloFin PEPE-USDT	+0.0310%	8h	0.000004847	+0.516%	$4.0M	$23.0M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0320%	8h	0.000004848	+0.545%	$30K	$13K	20x	as long as short
01 Exchange kPEPEUSD	+0.0352%	1h	0.000004831	+0.184%	$1K	$2K	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000004837	+0.309%	$557K	$26.1M	50x	as long as short
Nado kPEPE-PERP	+0.0400%	1h	0.000004831	+0.187%	$182K	$848K	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0433% / S −0.0635%	1h	0.000004000	−17.049%	$46K	—	100x	as long as short
BingX 1000PEPE-USDT	+0.0512%	8h	0.000004848	+0.531%	—	$257.6M	—	as long as short
ApeX Omni 1000PEPEUSDT	+0.0528%	1h	0.000004822	−0.002%	$100K	$754K	25x	as long as short
Binance 1000PEPEUSDT	+0.0532%	8h	0.000004852	+0.614%	$137.7M	$1.08B	75x	as long as short
MEXC PEPE_USDTshort	+0.0535%	8h	0.000004851	+0.603%	$93.0M	$280.2M	300x
Extended 1000PEPE-USD	+0.0536%	1h	0.000004848	+0.545%	$532K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0536%	1h	0.000004840	+0.371%	$137K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0537%	8h	0.000004851	+0.590%	$1.5M	$7.4M	50x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000004830	+0.164%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0641%	1h	0.000004853	+0.645%	$93K	$602K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.1196%	1h	0.000004849	+0.558%	$78K	$98K	25x	as long as short