Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0368%/8h= +40.3% APRpaid last 24h +0.039%

Price spread now: OKX against dYdX+0.264%7-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 OKX

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 +$11 a day on $10k at the current rate, and OKX is 0.264% dearer against dYdX than usual: you sell high and buy low: +$26 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX PEPE-USD	0.000005100	0	get 0.0000% / 1h	39m 57s	$19K	$95	10x
Short	OKX PEPE-USDT-SWAP	0.000005113	0.0368	get 0.0368% / 8h	4h 39m	$46.0M	$605.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.264%Rate

Funding earned: $77.23
Price spread: +0.264% → 0.000%: $26.41
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $83.65
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: dYdX: no order-book sample; OKX: live order book, 4 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 OKX live order book, 4 min ago	0.98 bp	9.2 bp −$9	14.2 bp −$142	50.4 bp −$5,035	doesn't fit

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
dYdX PEPE-USDlong	0.0000%	1h	0.000005100	long leg	$19K	$95	10x
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005096	−0.075%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005109	+0.186%	$65K	$140K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005107	+0.146%	$99.8M	$346.4M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005102	+0.048%	$168.8M	$76.1M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005106	+0.119%	$26.2M	$63.9M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005091	−0.176%	$688K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005091	−0.176%	$31K	$451K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005116	+0.319%	$2K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005107	+0.141%	$585K	$3.7M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PEPEUSDT	+0.0173%	8h	0.000005114	+0.282%	$46.6M	$175.2M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005108	+0.156%	$8K	—	15x	as long as short
Injective PEPE/USDC PERP	+0.0254%	1h	0.000005044	−1.089%	$3K	$102K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0334%	8h	0.000005116	+0.329%	$34K	$24K	20x	as long as short
OKX PEPE-USDT-SWAPshort	+0.0368%	8h	0.000005113	+0.264%	$46.0M	$605.7M	50x
BloFin PEPE-USDT	+0.0482%	8h	0.000005099	−0.010%	$4.4M	$25.6M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0586%	8h	0.000005105	+0.113%	$2.4M	$7.1M	50x	as long as short
BingX 1000PEPE-USDT	+0.0647%	8h	0.000005112	+0.235%	—	$261.9M	—	as long as short
ApeX Omni 1000PEPEUSDT	+0.0663%	1h	0.000005050	−0.971%	$100K	$742K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0672%	1h	0.000005113	+0.264%	$979K	$32.2M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0674% / S −0.0928%	1h	0.000005000	−1.952%	$46K	—	100x	as long as short
Aevo 1000PEPE-PERP	+0.0688%	1h	0.000005101	+0.029%	$144K	—	3x	as long as short
MEXC PEPE_USDT	+0.0694%	8h	0.000005115	+0.303%	$93.7M	$287.6M	300x	as long as short
Binance 1000PEPEUSDT	+0.0694%	8h	0.000005115	+0.297%	$145.0M	$1.23B	75x	as long as short
Extended 1000PEPE-USD	+0.0696%	1h	0.000005112	+0.240%	$541K	$226K	25x	as long as short
SoDEX 1000PEPE-USD	+0.0707%	1h	0.000005109	+0.186%	$2K	$12K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0729%	1h	0.000005110	+0.205%	$72K	$124K	25x	as long as short
Nado kPEPE-PERP	+0.0768%	1h	0.000005110	+0.208%	$199K	$880K	10x	as long as short
Aster 1000PEPEUSDT	+0.0790%	8h	0.000005111	+0.231%	$1.8M	$9.2M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0799%	8h	0.000005110	+0.197%	$6K	—	20x	as long as short
Lighter 1000PEPE	+0.0920%	1h	0.000005108	+0.166%	$581K	$8.2M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0948%	1h	0.000005107	+0.143%	$98K	$655K	15x	as long as short
01 Exchange kPEPEUSD	+0.1032%	1h	0.000005128	+0.558%	$619	$3K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1276%	1h	0.000005106	+0.128%	$4.5M	$15.5M	50x	as long as short
Hyperliquid kPEPE	+0.1453%	1h	0.000005108	+0.166%	$54.8M	$140.3M	10x	as long as short