Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0131%/8h= +14.4% APRpaid last 24h +0.020%

Price spread now: Aster against Nado−0.023%7-day average +0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$410.406% of the position

Long on Nado Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.037%+$4 on $10k

Price spread, last 3 days (all we have)−0.018%−$2 · spread now −0.023%, 7d avg +0.053%

Together, before fees+0.019%+ Points / potential airdropNado: Active · Aster: Stage 5 · farm board+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.075% cheaper against Nado than usual: you would sell low and buy high (spread −0.023% now, against its 7-day average of +0.053%). If the spread goes back, that is −$8 on $10k: about 46 hours of funding at the current rate (+$4 a day). At the pace of the last 3 days (+0.037% in total) that is about 6.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado kPEPE-PERP	0.000004795	0.0415	pay 0.0052% / 1h	55m 31s	$180K	$848K	10x
Short	Aster 1000PEPEUSDT	0.000004794	0.0546	get 0.0546% / 8h	7h 55m	$1.5M	$7.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Nado. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 NadobpFee AsterbpOrdersPrice spread, now −0.023%Rate

Funding earned: $27.61
Price spread: −0.023% → +0.053%: −$7.54
Slippage, 4 orders: −$25.57
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$20.5
Costs to cover: 0.406%
Break-even: 12.2 days

Slippage from Nado: live order book, 18 min ago; Aster: 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 Nado live order book, 18 min ago	3.17 bp	11.2 bp −$11	28.8 bp −$288	doesn't fit	doesn't fit
Sell Aster live order book, 3 min ago	1.25 bp	10.1 bp −$10	13.8 bp −$138	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
Phemex u1000PEPEUSDT	−0.0286%	8h	0.000004791	−0.084%	$2.3M	$6.5M	50x	as long as short
Kraken Futures PF_PEPEUSD	−0.0122%	1h	0.000004795	+0.004%	$3.9M	$13.9M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004791	−0.086%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004789	−0.132%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004790	−0.103%	$68.6M	$102.2M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004794	−0.019%	$56K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004790	−0.111%	$87.5M	$297.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004790	−0.103%	$152.1M	$64.6M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004795	−0.007%	$24.1M	$55.0M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004790	−0.105%	$42.4M	$151.5M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni 1000PEPE	+0.0100%	8h	0.000004801	+0.124%	$554K	$4.2M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004798	+0.058%	$26K	$350K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004802	+0.154%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004796	+0.022%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004796	+0.020%	$541K	$3.5M	75x	as long as short
Lighter 1000PEPE	+0.0112%	1h	0.000004794	−0.019%	$575K	$6.6M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0175%	8h	0.000004794	−0.023%	$5K	$16	20x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004789	−0.119%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0193%	8h	0.000004792	−0.061%	$42.8M	$505.2M	50x	as long as short
BloFin PEPE-USDT	+0.0310%	8h	0.000004792	−0.061%	$3.9M	$22.7M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0333%	8h	0.000004791	−0.082%	$30K	$13K	20x	as long as short
01 Exchange kPEPEUSD	+0.0336%	1h	0.000004788	−0.144%	$548	$2K	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000004796	+0.022%	$550K	$25.9M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0404% / S −0.0446%	1h	0.000004000	−16.578%	$43K	—	100x	as long as short
Nado kPEPE-PERPlong	+0.0415%	1h	0.000004795	long leg	$180K	$848K	10x
BingX 1000PEPE-USDT	+0.0532%	8h	0.000004792	−0.057%	—	$257.5M	—	as long as short
Binance 1000PEPEUSDT	+0.0542%	8h	0.000004792	−0.051%	$135.0M	$1.08B	75x	as long as short
Extended 1000PEPE-USD	+0.0544%	1h	0.000004792	−0.061%	$526K	$148K	25x	as long as short
MEXC PEPE_USDT	+0.0545%	8h	0.000004800	+0.112%	$91.2M	$279.7M	300x	as long as short
Aster 1000PEPEUSDTshort	+0.0546%	8h	0.000004794	−0.023%	$1.5M	$7.3M	50x
Aevo 1000PEPE-PERP	+0.0552%	1h	0.000004785	−0.207%	$135K	—	3x	as long as short
Backpack kPEPE_USDC_PERP	+0.0634%	1h	0.000004797	+0.050%	$94K	$602K	15x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000004793	−0.040%	$4K	$102K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0794%	1h	0.000004796	+0.022%	$77K	$98K	25x	as long as short
ApeX Omni 1000PEPEUSDT	+0.1932%	1h	0.000004800	+0.106%	$100K	$753K	25x	as long as short