Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.090%

Price spread now: Hyperliquid against KuCoin+0.017%7-day average +0.101% · you sell dearer than you buy

Net, funding: paid 7d − costs+$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

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

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.416%+$42 on $10k

Price spread, last 7 days+0.048%+$5 · spread now +0.017%, 7d avg +0.101%

Together, before fees+0.465%+ Points / potential airdropHyperliquid: Season 2 · farm board+$46 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.084% cheaper against KuCoin than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.101%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PEPEUSDTM	0.000004796	0.0100	pay 0.0100% / 8h	1h 13m	$24.7M	$54.0M	75x
Short	Hyperliquid kPEPE	0.000004797	0.0100	get 0.0013% / 1h	13m 39s	$62.4M	$82.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. 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 KuCoinbpFee HyperliquidbpOrdersPrice spread, now +0.017%Rate

Funding earned: $0
Price spread: +0.017% → +0.101%: −$8.44
Slippage, 4 orders: −$18.72
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$48.17
Costs to cover: 0.397%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Hyperliquid: live order book, 10 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 KuCoin live order book, 5 min ago	1.25 bp	12.7 bp −$13	25.3 bp −$253	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	1.04 bp	8.9 bp −$9	13.6 bp −$136	29.7 bp −$2,970	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	0.000004795	−0.034%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004796	−0.013%	$14K	—	150x	as long as short
Lighter 1000PEPE	+0.0096%	1h	0.000004799	+0.058%	$660K	$6.0M	10x	as long as short
Hyperliquid kPEPEshort	+0.0100%	1h	0.000004797	+0.017%	$62.4M	$82.4M	10x
Pacifica kPEPE	+0.0100%	1h	0.000004798	+0.038%	$59K	$114K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004795	−0.031%	$87.0M	$282.7M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004791	−0.108%	$149.9M	$63.3M	75x	as long as short
KuCoin PEPEUSDTMlong	+0.0100%	8h	0.000004796	long leg	$24.7M	$54.0M	75x
Variational Omni 1000PEPE	+0.0100%	8h	0.000004782	−0.298%	$541K	$4.0M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004784	−0.250%	$27K	$345K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004807	+0.227%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004803	+0.142%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004810	+0.290%	$542K	$3.5M	75x	as long as short
Bitget PEPEUSDT	+0.0118%	8h	0.000004791	−0.104%	$42.1M	$148.8M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004801	+0.101%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0216%	8h	0.000004796	−0.004%	$41.5M	$491.3M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0283%	8h	0.000004802	+0.121%	$5K	$16	20x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0323% / S −0.0346%	1h	0.000004000	−16.601%	$43K	—	100x	as long as short
BloFin PEPE-USDT	+0.0337%	8h	0.000004812	+0.329%	$3.9M	$22.2M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0347%	8h	0.000004802	+0.117%	$2.3M	$6.4M	50x	as long as short
01 Exchange kPEPEUSD	+0.0416%	1h	0.000004791	−0.108%	$549	$2K	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0448%	1h	0.000004804	+0.163%	$588K	$25.5M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0451%	8h	0.000004800	+0.081%	$29K	$11K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0471%	1h	0.000004779	−0.359%	$102K	$763K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0558%	1h	0.000004802	+0.119%	$93K	$614K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0584%	1h	0.000004799	+0.058%	$81K	$94K	25x	as long as short
Nado kPEPE-PERP	+0.0749%	1h	0.000004806	+0.206%	$185K	$845K	10x	as long as short
BingX 1000PEPE-USDC	+0.0749%	8h	0.000004795	−0.035%	—	$2.3M	—	as long as short
Binance 1000PEPEUSDT	+0.0760%	8h	0.000004797	+0.024%	$130.2M	$1.04B	75x	as long as short
MEXC PEPE_USDT	+0.0764%	8h	0.000004802	+0.125%	$91.5M	$285.7M	300x	as long as short
Extended 1000PEPE-USD	+0.0768%	1h	0.000004790	−0.130%	$526K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0768%	1h	0.000004804	+0.163%	$136K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0780%	8h	0.000004803	+0.148%	$1.5M	$7.1M	50x	as long as short
Injective PEPE/USDC PERP	+0.0873%	1h	0.000004785	−0.234%	$4K	$103K	12x	as long as short
Kraken Futures PF_PEPEUSD	+0.1328%	1h	0.000004802	+0.125%	$3.9M	$13.3M	50x	as long as short