Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0034%/8h= −3.7% APRpaid last 24h +0.131%

Price spread now: Kraken Futures against edgeX−0.221%7-day average +0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$400.397% of the position

Long on edgeX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 3 days (all we have)+0.299%+$30 · spread now −0.221%, 7d avg +0.022%

Together, before fees+0.357%+ Points / potential airdropedgeX: Active · farm board+$36 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Kraken Futures is 0.243% cheaper against edgeX than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of +0.022%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.058%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX 1000PEPEUSDC	0.000004821	0.0100	pay 0.0050% / 4h	43m 36s	$26K	$350K	20x
Short	Kraken Futures PF_PEPEUSD	0.000004810	0.0066	get 0.0008% / 1h	43m 36s	$3.9M	$13.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.221%Rate

Funding earned: −$7.08
Price spread: −0.221% → +0.022%: −$24.25
Slippage, 4 orders: −$20.7
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$71.04
Costs to cover: 0.397%
Break-even: never at this rate

Slippage from edgeX: live order book, 35 min ago; Kraken Futures: live order book, 5 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, 35 min ago	1.04 bp	5.7 bp −$6	10.0 bp −$100	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	4.16 bp	13.3 bp −$13	19.6 bp −$196	77.4 bp −$7,745	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
Hyperliquid kPEPE	−0.0250%	1h	0.000004804	−0.345%	$67.5M	$89.0M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004807	−0.285%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004809	−0.237%	$14K	—	150x	as long as short
Kraken Futures PF_PEPEUSDshort	+0.0066%	1h	0.000004810	−0.221%	$3.9M	$13.6M	50x
Pacifica kPEPE	+0.0100%	1h	0.000004809	−0.241%	$59K	$115K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004803	−0.366%	$86.4M	$288.7M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004808	−0.262%	$150.5M	$64.1M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004810	−0.214%	$24.6M	$54.3M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004805	−0.320%	$42.4M	$149.7M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004829	+0.171%	$591K	$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 1000PEPEUSDClong	+0.0100%	4h	0.000004821	long leg	$26K	$350K	20x
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004820	−0.013%	$101K	$761K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004824	+0.064%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004812	−0.179%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004812	−0.177%	$544K	$3.5M	75x	as long as short
Lighter 1000PEPE	+0.0168%	1h	0.000004814	−0.138%	$627K	$6.3M	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004804	−0.344%	$7K	—	15x	as long as short
Paradex kPEPE-USD-PERP	+0.0204%	8h	0.000004807	−0.290%	$5K	$16	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0212%	8h	0.000004806	−0.304%	$41.6M	$498.1M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0218%	8h	0.000004810	−0.231%	$2.3M	$6.4M	50x	as long as short
01 Exchange kPEPEUSD	+0.0232%	1h	0.000004806	−0.304%	$551	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0336%	8h	0.000004822	+0.028%	$3.9M	$22.4M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0363% / S −0.0406%	1h	0.000004000	−17.023%	$43K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004814	−0.138%	$570K	$25.8M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0418%	8h	0.000004814	−0.138%	$30K	$12K	20x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004831	+0.215%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0511%	1h	0.000004812	−0.185%	$91K	$601K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0582%	1h	0.000004813	−0.158%	$81K	$94K	25x	as long as short
BingX 1000PEPE-USDT	+0.0657%	8h	0.000004807	−0.289%	—	$256.4M	—	as long as short
Binance 1000PEPEUSDT	+0.0670%	8h	0.000004808	−0.272%	$131.8M	$1.05B	75x	as long as short
Aster 1000PEPEUSDT	+0.0676%	8h	0.000004812	−0.185%	$1.5M	$7.2M	50x	as long as short
MEXC PEPE_USDT	+0.0677%	8h	0.000004810	−0.223%	$93.3M	$279.9M	300x	as long as short
Extended 1000PEPE-USD	+0.0680%	1h	0.000004808	−0.272%	$529K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0680%	1h	0.000004813	−0.158%	$136K	—	3x	as long as short
Nado kPEPE-PERP	+0.0831%	1h	0.000004806	−0.306%	$184K	$848K	10x	as long as short