Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0798%/8h= −87.4% APRpaid last 24h −0.096%

Price spread now: Paradex against Hyperliquid−0.006%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · Paradex: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$24 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid kPEPE	0.000005160	0.1601	pay 0.0200% / 1h	24m 21s	$55.7M	$141.9M	10x
Short	Paradex kPEPE-USD-PERP	0.000005160	0.0803	get 0.0803% / 8h	4h 24m	$6K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.006%Rate

Funding earned: −$167.57
Price spread: −0.006% → 0.000%: −$0.64
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$181.21
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 10 min ago; Paradex: 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 Hyperliquid live order book, 10 min ago	0.97 bp	5.5 bp −$5	16.8 bp −$168	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	0.000005152	−0.164%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005151	−0.180%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005159	−0.019%	$66K	$144K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005152	−0.155%	$100.1M	$357.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005152	−0.155%	$168.0M	$80.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005153	−0.132%	$26.1M	$65.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005200	+0.766%	$761K	$4.8M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005216	+1.091%	$42K	$463K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005188	+0.535%	$1K	$2.5M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005185	+0.481%	$589K	$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
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005153	−0.145%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0202%	8h	0.000005155	−0.097%	$47.7M	$179.0M	75x	as long as short
Injective PEPE/USDC PERP	+0.0254%	1h	0.000005173	+0.252%	$3K	$102K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0348%	8h	0.000005158	−0.043%	$34K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0380%	8h	0.000005156	−0.078%	$48.5M	$625.7M	50x	as long as short
BloFin PEPE-USDT	+0.0498%	8h	0.000005166	+0.116%	$4.4M	$26.4M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0581%	8h	0.000005159	−0.019%	$2.6M	$7.3M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0672%	1h	0.000005194	+0.659%	$1.0M	$33.5M	50x	as long as short
BingX 1000PEPE-USDT	+0.0701%	8h	0.000005157	−0.066%	—	$262.9M	—	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0716%	1h	0.000005179	+0.368%	$73K	$125K	25x	as long as short
Extended 1000PEPE-USD	+0.0736%	1h	0.000005156	−0.070%	$546K	$226K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0736%	1h	0.000005148	−0.233%	$146K	—	3x	as long as short
MEXC PEPE_USDT	+0.0739%	8h	0.000005160	+0.010%	$97.3M	$290.7M	300x	as long as short
Binance 1000PEPEUSDT	+0.0741%	8h	0.000005160	−0.007%	$148.5M	$1.26B	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0774% / S −0.1542%	1h	0.000005000	−3.101%	$63K	—	100x	as long as short
Paradex kPEPE-USD-PERPshort	+0.0803%	8h	0.000005160	−0.006%	$6K	—	20x
SoDEX 1000PEPE-USD	+0.0835%	1h	0.000005184	+0.465%	$2K	$10K	10x	as long as short
Lighter 1000PEPE	+0.0840%	1h	0.000005161	+0.019%	$593K	$8.3M	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0845%	1h	0.000005209	+0.950%	$104K	$744K	25x	as long as short
Aster 1000PEPEUSDT	+0.0848%	8h	0.000005151	−0.179%	$1.9M	$9.6M	50x	as long as short
Nado kPEPE-PERP	+0.0889%	1h	0.000005158	−0.044%	$190K	$898K	10x	as long as short
01 Exchange kPEPEUSD	+0.1144%	1h	0.000005165	+0.097%	$623	$3K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.1166%	1h	0.000005144	−0.300%	$97K	$666K	15x	as long as short
Kraken Futures PF_PEPEUSD	+0.1257%	1h	0.000005182	+0.436%	$4.6M	$15.9M	50x	as long as short
Hyperliquid kPEPElong	+0.1601%	1h	0.000005160	long leg	$55.7M	$141.9M	10x