Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0277%/8h= +30.4% APRpaid last 24h +0.035%

Price spread now: Coinbase International against Orderly+0.027%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Coinbase International is 0.027% dearer against Orderly than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_1000PEPE_USDC	0.000005147	0.0299	pay 0.0299% / 8h	5h 56m	$34K	$24K	20x
Short	Coinbase International 1000PEPE-PERP-INTX	0.000005148	0.0576	get 0.0072% / 1h	56m 13s	$934K	$31.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Orderly. 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 OrderlybpFee Coinbase InternationalbpOrdersPrice spread, now +0.027%Rate

Funding earned: $58.22
Price spread: +0.027% → 0.000%: $2.72
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $44.94
Costs to cover: 0.160%
Break-even: 1.6 days

Slippage unknown: Orderly: no order-book sample; Coinbase International: live order book, 3 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 3 min ago	4.89 bp	15.5 bp −$15	20.3 bp −$203	doesn't fit	doesn't fit

Orderly: 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	0.000005132	−0.291%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0009%	1h	0.000005134	−0.237%	$19K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005140	−0.128%	$63K	$128K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005136	−0.208%	$100.0M	$328.3M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005144	−0.051%	$165.1M	$72.1M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005150	+0.070%	$25.7M	$61.5M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005144	−0.054%	$48.2M	$167.9M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005100	−0.913%	$681K	$4.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005107	−0.773%	$27K	$424K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005148	+0.037%	$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	0.000005143	−0.072%	$586K	$3.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005150	+0.070%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0283%	8h	0.000005142	−0.089%	$46.6M	$586.8M	50x	as long as short
Orderly PERP_1000PEPE_USDClong	+0.0299%	8h	0.000005147	long leg	$34K	$24K	20x
Phemex u1000PEPEUSDT	+0.0481%	8h	0.000005138	−0.165%	$2.4M	$7.0M	50x	as long as short
BingX 1000PEPE-USDT	+0.0538%	8h	0.000005140	−0.136%	—	$259.7M	—	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0544% / S −0.0821%	1h	0.000005000	−2.848%	$50K	—	100x	as long as short
MEXC PEPE_USDT	+0.0568%	8h	0.000005151	+0.084%	$98.0M	$285.6M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0568%	1h	0.000005146	−0.012%	$145K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0572%	8h	0.000005143	−0.068%	$145.6M	$1.18B	75x	as long as short
Extended 1000PEPE-USD	+0.0576%	1h	0.000005143	−0.075%	$544K	$219K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTXshort	+0.0576%	1h	0.000005148	+0.027%	$934K	$31.1M	50x
ApeX Omni 1000PEPEUSDT	+0.0647%	1h	0.000005110	−0.711%	$106K	$749K	25x	as long as short
Aster 1000PEPEUSDT	+0.0671%	8h	0.000005153	+0.119%	$1.7M	$8.3M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0707%	8h	0.000005148	+0.025%	$6K	—	20x	as long as short
Nado kPEPE-PERP	+0.0725%	1h	0.000005151	+0.077%	$197K	$858K	10x	as long as short
SoDEX 1000PEPE-USD	+0.0766%	1h	0.000005144	−0.051%	$2K	$12K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0898%	1h	0.000005112	−0.666%	$100K	$610K	15x	as long as short
Injective PEPE/USDC PERP	+0.0973%	1h	0.000005105	−0.808%	$4K	$102K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.1113%	1h	0.000005142	−0.089%	$62K	$114K	25x	as long as short
01 Exchange kPEPEUSD	+0.1160%	1h	0.000005168	+0.416%	$623	$3K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1353%	1h	0.000005144	−0.047%	$4.3M	$14.9M	50x	as long as short
Lighter 1000PEPE	+0.1808%	1h	0.000005151	+0.085%	$1.1M	$7.4M	10x	as long as short
Hyperliquid kPEPE	+0.2061%	1h	0.000005158	+0.222%	$57.0M	$136.7M	10x	as long as short