Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0174%/8h= +19.1% APRpaid last 24h +0.014%

Price spread now: Orderly against edgeX−0.624%7-day average — · you buy dearer than you sell

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

Long on edgeX Short on Orderly

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—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Funding pays, the price is against you. Orderly is 0.624% cheaper against edgeX than usual: you would sell low and buy high (spread −0.624% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$62 on $10k: about 12 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX 1000PEPEUSDC	0.000005038	0.0100	pay 0.0050% / 4h	2h 41m	$27K	$405K	20x
Short	Orderly PERP_1000PEPE_USDC	0.000005006	0.0274	get 0.0274% / 8h	6h 41m	$33K	$23K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.624%Rate

Funding earned: $36.56
Price spread: −0.624% → 0.000%: −$62.41
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$40.85
Costs to cover: 0.150%
Break-even: 14.8 days

Slippage unknown: edgeX: live order book, 27 min ago; Orderly: 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 edgeX live order book, 27 min ago	1.38 bp	6.0 bp −$6	8.4 bp −$84	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	0.000005004	−0.662%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005000	−0.747%	$3K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005013	−0.487%	$61K	$125K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005001	−0.717%	$96.7M	$320.1M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005005	−0.646%	$159.2M	$69.9M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005008	−0.578%	$25.0M	$59.4M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005004	−0.672%	$44.4M	$158.7M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005000	−0.751%	$564K	$4.5M	—	as long as short
edgeX 1000PEPEUSDClong	+0.0100%	4h	0.000005038	long leg	$27K	$405K	20x
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005015	−0.449%	$1K	$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	0.000005005	−0.638%	$562K	$3.6M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0117%	8h	0.000005005	−0.640%	$2.4M	$6.8M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0150%	1h	0.000005000	−0.745%	$61K	$114K	25x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005005	−0.646%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0212%	8h	0.000005005	−0.646%	$44.3M	$556.1M	50x	as long as short
Orderly PERP_1000PEPE_USDCshort	+0.0274%	8h	0.000005006	−0.624%	$33K	$23K	20x
BloFin PEPE-USDT	+0.0318%	8h	0.000005008	−0.586%	$4.2M	$24.6M	75x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0318%	1h	0.000005030	−0.150%	$107K	$751K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0424%	1h	0.000005012	−0.507%	$652K	$28.7M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0449%	8h	0.000005019	−0.362%	$6K	$16	20x	as long as short
BingX 1000PEPE-USDC	+0.0457%	8h	0.000005005	−0.646%	—	$2.3M	—	as long as short
Aevo 1000PEPE-PERP	+0.0488%	1h	0.000005008	−0.586%	$142K	—	3x	as long as short
MEXC PEPE_USDT	+0.0492%	8h	0.000005007	−0.608%	$94.6M	$288.5M	300x	as long as short
Binance 1000PEPEUSDT	+0.0494%	8h	0.000005003	−0.691%	$139.8M	$1.16B	75x	as long as short
Extended 1000PEPE-USD	+0.0496%	1h	0.000005005	−0.655%	$552K	$199K	25x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0506% / S −0.0383%	1h	0.000005000	−0.745%	$65K	—	100x	as long as short
SoDEX 1000PEPE-USD	+0.0560%	1h	0.000005003	−0.686%	$2K	$12K	10x	as long as short
Aster 1000PEPEUSDT	+0.0574%	8h	0.000005018	−0.380%	$1.7M	$8.0M	50x	as long as short
Nado kPEPE-PERP	+0.0642%	1h	0.000005007	−0.603%	$177K	$879K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0833%	1h	0.000005002	−0.701%	$3.9M	$14.4M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0908%	1h	0.000005023	−0.297%	$102K	$626K	15x	as long as short
Injective PEPE/USDC PERP	+0.0909%	1h	0.000005028	−0.189%	$4K	$102K	12x	as long as short
01 Exchange kPEPEUSD	+0.0960%	1h	0.000005019	−0.368%	$1K	$2K	10x	as long as short
Lighter 1000PEPE	+0.1280%	1h	0.000005016	−0.428%	$650K	$6.8M	10x	as long as short
Hyperliquid kPEPE	+0.2433%	1h	0.000005014	−0.467%	$55.5M	$135.1M	10x	as long as short