PEPE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.1347%/8h= −147.5% APRnext payment −$1.68 per $10,000 · paid last 24h −0.067%

Price spread now: Reya against Hyperliquid−0.151%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 Reya

What this pair did over the last

the charts below follow

Funding, last 3 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 · Reya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$40 a day on $10k at the current rate, and Reya is 0.151% cheaper against Hyperliquid than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid kPEPE	0.000005116	0.1536	pay 0.0192% / 1h	59m 26s	$56.5M	$136.5M	10x
Short	Reya kPEPERUSDPERP	0.000005108	0.0189	get 0.0024% / 1h	59m 26s	$8K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.151%Rate

Funding earned: −$282.89
Price spread: −0.151% → 0.000%: −$15.12
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Reya: 3 bp × 2 orders: −$6
Net: −$313.01
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 4 min ago; Reya: 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, 4 min ago	0.98 bp	5.5 bp −$5	14.4 bp −$144	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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 34 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	0.000005111	−0.095%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005104	−0.227%	$18K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005119	+0.059%	$63K	$128K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005102	−0.274%	$99.5M	$327.9M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005115	−0.020%	$163.9M	$72.0M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005106	−0.194%	$25.5M	$61.5M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005108	−0.160%	$47.6M	$167.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005100	−0.320%	$681K	$4.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005107	−0.180%	$27K	$424K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005122	+0.115%	$2K	$2.4M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005124	+0.156%	$583K	$3.6M	75x	as long as short
Reya kPEPERUSDPERPshort	+0.0189%	1h	0.000005108	−0.151%	$8K	—	15x
OKX PEPE-USDT-SWAP	+0.0271%	8h	0.000005109	−0.137%	$46.2M	$581.9M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0294%	8h	0.000005121	+0.090%	$34K	$24K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0424%	1h	0.000005120	+0.078%	$927K	$30.8M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0457%	8h	0.000005107	−0.170%	$2.4M	$7.0M	50x	as long as short
BingX 1000PEPE-USDT	+0.0531%	8h	0.000005109	−0.129%	—	$259.7M	—	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0532%	1h	0.000005117	+0.020%	$62K	$114K	25x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0536% / S −0.0924%	1h	0.000005000	−2.267%	$48K	—	100x	as long as short
Extended 1000PEPE-USD	+0.0560%	1h	0.000005110	−0.117%	$562K	$199K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0560%	1h	0.000005120	+0.078%	$145K	—	3x	as long as short
MEXC PEPE_USDT	+0.0562%	8h	0.000005114	−0.039%	$96.8M	$285.2M	300x	as long as short
Binance 1000PEPEUSDT	+0.0567%	8h	0.000005110	−0.119%	$144.7M	$1.18B	75x	as long as short
SoDEX 1000PEPE-USD	+0.0603%	1h	0.000005118	+0.039%	$2K	$12K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0657%	1h	0.000005104	−0.235%	$106K	$749K	25x	as long as short
Aster 1000PEPEUSDT	+0.0675%	8h	0.000005112	−0.070%	$1.7M	$8.3M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0693%	8h	0.000005121	+0.097%	$6K	—	20x	as long as short
Kraken Futures PF_PEPEUSD	+0.0814%	1h	0.000005116	+0.005%	$4.1M	$14.6M	50x	as long as short
Injective PEPE/USDC PERP	+0.0909%	1h	0.000005109	−0.137%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0953%	1h	0.000005112	−0.072%	$99K	$610K	15x	as long as short
01 Exchange kPEPEUSD	+0.1152%	1h	0.000005115	−0.020%	$617	$3K	10x	as long as short
Nado kPEPE-PERP	+0.1331%	1h	0.000005111	−0.093%	$194K	$882K	10x	as long as short
Hyperliquid kPEPElong	+0.1536%	1h	0.000005116	long leg	$56.5M	$136.5M	10x
Lighter 1000PEPE	+0.1840%	1h	0.000005130	+0.274%	$1.1M	$7.4M	10x	as long as short