Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.078%

Price spread now: HTX against Hyperliquid−0.094%7-day average −0.100% · you buy dearer than you sell

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on Hyperliquid Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.364%−$36 on $10k

Price spread, last 3 days (all we have)+0.077%+$8 · spread now −0.094%, 7d avg −0.100%

Together, before fees−0.287%+ Points / potential airdropHyperliquid: Season 2 · farm board−$29 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid kPEPE	0.000004802	0.0100	pay 0.0013% / 1h	5m 35s	$58.5M	$72.9M	10x
Short	HTX PEPE-USDT	0.000004798	0.0100	get 0.0100% / 8h	2h 05m	$552K	$3.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Hyperliquid. 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 HyperliquidbpFee HTXbpOrdersPrice spread, now −0.094%Rate

Funding earned: $0
Price spread: −0.094% → −0.100%: $0.6
Slippage, 4 orders: −$18.9
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee HTX: 6 bp × 2 orders: −$12
Net: −$39.29
Costs to cover: 0.399%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 8 min ago; HTX: live order book, 3 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 Hyperliquid live order book, 8 min ago	1.04 bp	5.5 bp −$6	10.4 bp −$104	doesn't fit	doesn't fit
Sell HTX live order book, 3 min ago	5.51 bp	13.7 bp −$14	23.3 bp −$233	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
dYdX PEPE-USD	0.0000%	1h	0.000004802	+0.004%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004793	−0.194%	$14K	—	150x	as long as short
Hyperliquid kPEPElong	+0.0100%	1h	0.000004802	long leg	$58.5M	$72.9M	10x
Pacifica kPEPE	+0.0100%	1h	0.000004808	+0.125%	$59K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004808	+0.125%	$87.4M	$275.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004804	+0.042%	$150.2M	$62.3M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004807	+0.096%	$24.8M	$53.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004820	+0.383%	$577K	$3.8M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004830	+0.577%	$27K	$340K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004814	+0.252%	$1K	$2.4M	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-USDTshort	+0.0100%	8h	0.000004798	−0.094%	$552K	$3.4M	75x
Bitget PEPEUSDT	+0.0183%	8h	0.000004802	+0.006%	$42.3M	$150.9M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0183%	8h	0.000004806	+0.083%	$41.4M	$485.3M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004802	−0.006%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0299%	8h	0.000004803	+0.021%	$3.9M	$21.8M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0318% / S −0.0217%	1h	0.000004000	−16.701%	$52K	—	100x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0421%	8h	0.000004808	+0.123%	$29K	$11K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004798	−0.083%	$577K	$25.0M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0509%	8h	0.000004806	+0.081%	$2.3M	$6.4M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0535%	8h	0.000004809	+0.149%	$5K	$16	20x	as long as short
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004824	+0.458%	$4K	$110K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0583%	1h	0.000004804	+0.042%	$81K	$94K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0712%	1h	0.000004803	+0.010%	$92K	$624K	15x	as long as short
Lighter 1000PEPE	+0.0728%	1h	0.000004810	+0.167%	$571K	$5.3M	10x	as long as short
Nado kPEPE-PERP	+0.0745%	1h	0.000004804	+0.036%	$188K	$848K	10x	as long as short
SoDEX 1000PEPE-USD	+0.0750%	1h	0.000004805	+0.062%	$2K	$9K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0751%	1h	0.000004804	+0.042%	$102K	$763K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0762%	1h	0.000004803	+0.013%	$3.9M	$13.1M	50x	as long as short
BingX 1000PEPE-USDC	+0.0827%	8h	0.000004802	0.000%	—	$2.3M	—	as long as short
Extended 1000PEPE-USD	+0.0872%	1h	0.000004808	+0.133%	$529K	$147K	25x	as long as short
MEXC PEPE_USDT	+0.0872%	8h	0.000004814	+0.256%	$91.5M	$292.6M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0872%	1h	0.000004811	+0.187%	$136K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0873%	8h	0.000004814	+0.250%	$128.3M	$1.02B	75x	as long as short
Aster 1000PEPEUSDT	+0.0899%	8h	0.000004809	+0.137%	$1.5M	$6.9M	50x	as long as short
01 Exchange kPEPEUSD	+0.1184%	1h	0.000004818	+0.333%	$552	$2K	10x	as long as short