Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.022%

Price spread now: Reya against KuCoin−0.038%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Reya

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 airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.038% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.038% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 46 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PEPEUSDTM	0.000004975	0.0122	pay 0.0122% / 8h	6h 55m	$25.4M	$75.9M	75x
Short	Reya kPEPERUSDPERP	0.000004973	0.0189	get 0.0024% / 1h	55m 13s	$8K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.038%Rate

Funding earned: $14.1
Price spread: −0.038% → 0.000%: −$3.84
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$7.75
Costs to cover: 0.180%
Break-even: 10.8 days

Slippage unknown: KuCoin: 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 KuCoin live order book, 4 min ago	0.30 bp	16.4 bp −$16	33.3 bp −$333	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 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
Deribit 1000PEPE_USDC-PERPETUAL	0.0000%	1h	0.000004975	−0.002%	$57K	$139K	25x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005002	+0.543%	$3K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0026%	1h	0.000004971	−0.089%	$4.6M	$16.7M	50x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004980	+0.098%	$51.4M	$162.0M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004977	+0.038%	$57K	$197K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004975	−0.002%	$95.3M	$448.2M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004975	−0.002%	$159.2M	$100.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005002	+0.531%	$650K	$5.4M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005004	+0.582%	$27K	$567K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004985	+0.201%	$2K	$2.6M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004972	−0.062%	$2K	$11K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004980	+0.094%	$582K	$4.2M	75x	as long as short
Bitget PEPEUSDT	+0.0117%	8h	0.000004978	+0.052%	$44.4M	$226.7M	75x	as long as short
Lighter 1000PEPE	+0.0120%	1h	0.000004976	+0.018%	$587K	$9.0M	10x	as long as short
01 Exchange kPEPEUSD	+0.0120%	1h	0.000004966	−0.183%	$599	$2K	10x	as long as short
KuCoin PEPEUSDTMlong	+0.0122%	8h	0.000004975	long leg	$25.4M	$75.9M	75x
Reya kPEPERUSDPERPshort	+0.0189%	1h	0.000004973	−0.038%	$8K	—	15x
Paradex kPEPE-USD-PERP	+0.0264%	8h	0.000004975	−0.003%	$6K	—	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0265%	8h	0.000004981	+0.119%	$45.2M	$739.8M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0287%	8h	0.000004982	+0.131%	$2.3M	$8.0M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0341%	1h	0.000005001	+0.521%	$145K	$846K	25x	as long as short
Injective PEPE/USDC PERP	+0.0363%	1h	0.000005011	+0.722%	$6K	$121K	12x	as long as short
BloFin PEPE-USDT	+0.0388%	8h	0.000004977	+0.038%	$4.3M	$29.8M	75x	as long as short
Nado kPEPE-PERP	+0.0396%	1h	0.000004966	−0.177%	$150K	$949K	10x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0429%	8h	0.000004980	+0.096%	$32K	$31K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004977	+0.038%	$671K	$39.1M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0484%	1h	0.000004975	+0.006%	$66K	$977K	15x	as long as short
BingX 1000PEPE-USDT	+0.0532%	8h	0.000004978	+0.052%	—	$179.9M	—	as long as short
Extended 1000PEPE-USD	+0.0536%	1h	0.000004977	+0.035%	$522K	$288K	25x	as long as short
Binance 1000PEPEUSDT	+0.0539%	8h	0.000004977	+0.042%	$131.0M	$1.55B	75x	as long as short
MEXC PEPE_USDT	+0.0546%	8h	0.000004974	−0.030%	$102.3M	$303.9M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0552%	1h	0.000004977	+0.038%	$141K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0562%	8h	0.000004975	−0.006%	$1.8M	$12.3M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0926% / S −0.1034%	1h	0.000004000	−19.600%	$50K	—	100x	as long as short
dYdX PEPE-USD	+0.7486%	1h	0.000004968	−0.145%	$25K	$12K	10x	as long as short