Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0047%/8h= +5.2% APRpaid last 24h +0.100%

Price spread now: Injective against edgeX+0.009%7-day average +0.601% · you sell dearer than you buy

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$154as in the Price arb table

costs, in and out, $10k−$950.951% of the position

Long on edgeX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.320%+$32 on $10k

Price spread, last 4 days (all we have)+0.356%+$36 · spread now +0.009%, 7d avg +0.601%

Together, before fees+0.677%+ Points / potential airdropedgeX: Active · farm board+$68 on $10k · with fees, hour by hour

Funding pays, the price is against you. Injective is 0.592% cheaper against edgeX than usual: you would sell low and buy high (spread +0.009% now, against its 7-day average of +0.601%). If the spread goes back, that is −$59 on $10k: about 42 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.320% in total) that is about 13 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX 1000PEPEUSDC	0.000005088	0.0100	pay 0.0050% / 4h	3h 32m	$28K	$551K	20x
Short	Injective PEPE/USDC PERP	0.000005088	0.0147	get 0.0018% / 1h	32m 47s	$7K	$121K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against edgeX. 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 edgeXbpFee InjectivebpOrdersPrice spread, now +0.009%Rate

Funding earned: $9.97
Price spread: +0.009% → +0.601%: −$59.22
Slippage, 4 orders: −$86.09
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$144.36
Costs to cover: 0.951%
Break-even: 108.4 days

Slippage from edgeX: live order book, 66 min ago; Injective: live order book, 1 min ago.

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 edgeX live order book, 66 min ago	0.97 bp	5.6 bp −$6	8.1 bp −$81	doesn't fit	doesn't fit
Sell Injective live order book, 1 min ago	26.64 bp	54.2 bp −$54	doesn't fit	doesn't fit	doesn't fit

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
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005065	−0.435%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005066	−0.424%	$59K	$186K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005034	−1.053%	$97.4M	$437.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005052	−0.699%	$160.5M	$99.7M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005087	−0.017%	$637K	$5.4M	—	as long as short
edgeX 1000PEPEUSDClong	+0.0100%	4h	0.000005088	long leg	$28K	$551K	20x
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005071	−0.333%	$2K	$2.7M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005057	−0.600%	$595K	$4.3M	75x	as long as short
Injective PEPE/USDC PERPshort	+0.0147%	1h	0.000005088	+0.009%	$7K	$121K	12x
KuCoin PEPEUSDTM	+0.0164%	8h	0.000005065	−0.437%	$26.5M	$74.8M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX 1000PEPE-USD	+0.0167%	1h	0.000005063	−0.483%	$2K	$11K	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005079	−0.170%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0200%	8h	0.000005052	−0.693%	$45.4M	$222.8M	75x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0315%	1h	0.000005102	+0.284%	$150K	$839K	25x	as long as short
OKX PEPE-USDT-SWAP	+0.0321%	8h	0.000005031	−1.112%	$45.7M	$738.2M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0402%	1h	0.000005062	−0.502%	$97K	$909K	15x	as long as short
Paradex kPEPE-USD-PERP	+0.0409%	8h	0.000005060	−0.549%	$6K	—	20x	as long as short
Phemex u1000PEPEUSDT	+0.0422%	8h	0.000005063	−0.477%	$2.3M	$8.1M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0435%	8h	0.000005063	−0.475%	$33K	$27K	20x	as long as short
BloFin PEPE-USDT	+0.0444%	8h	0.000005070	−0.345%	$4.4M	$30.2M	75x	as long as short
Hyperliquid kPEPE	+0.0473%	1h	0.000005055	−0.640%	$52.4M	$160.6M	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0504%	1h	0.000005055	−0.640%	$671K	$39.3M	50x	as long as short
01 Exchange kPEPEUSD	+0.0536%	1h	0.000005058	−0.581%	$610	$2K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0541%	1h	0.000005061	−0.522%	$72K	$128K	25x	as long as short
Lighter 1000PEPE	+0.0616%	1h	0.000005057	−0.600%	$604K	$9.0M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0626%	1h	0.000005061	−0.521%	$4.8M	$16.8M	50x	as long as short
BingX 1000PEPE-USDC	+0.0629%	8h	0.000005052	−0.695%	—	$2.3M	—	as long as short
Binance 1000PEPEUSDT	+0.0651%	8h	0.000005056	−0.624%	$139.5M	$1.51B	75x	as long as short
MEXC PEPE_USDT	+0.0654%	8h	0.000005053	−0.671%	$98.4M	$307.8M	300x	as long as short
Extended 1000PEPE-USD	+0.0656%	1h	0.000005062	−0.495%	$531K	$282K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0656%	1h	0.000005083	−0.089%	$144K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0670%	8h	0.000005054	−0.665%	$1.7M	$12.0M	50x	as long as short
Nado kPEPE-PERP	+0.0683%	1h	0.000005056	−0.613%	$160K	$966K	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0973% / S −0.1091%	1h	0.000005000	−1.721%	$51K	—	100x	as long as short
dYdX PEPE-USD	+0.2817%	1h	0.000005048	−0.783%	$19K	$2K	10x	as long as short