Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0315%/8h= −34.5% APRpaid last 24h −0.005%

Price spread now: edgeX against Orderly+0.404%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 edgeX

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—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

The price spread pays, funding is against you. edgeX is 0.404% dearer against Orderly than usual: you sell high and buy low (spread +0.404% now, against zero (this spread has no 7-day history yet)): +$40 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 4.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_1000PEPE_USDC	0.000005151	0.0415	pay 0.0415% / 8h	16m 39s	$34K	$26K	20x
Short	edgeX 1000PEPEUSDC	0.000005172	0.0100	get 0.0050% / 4h	16m 39s	$28K	$548K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.404%Rate

Funding earned: −$66.17
Price spread: +0.404% → 0.000%: $40.38
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$40.78
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; edgeX: live order book, 22 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 edgeX live order book, 22 min ago	0.97 bp	5.7 bp −$6	83.9 bp −$839	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 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	0.000005146	−0.082%	$19K	$649	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005142	−0.173%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005154	+0.064%	$60K	$184K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005154	+0.060%	$99.3M	$430.2M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005148	−0.052%	$163.0M	$99.5M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005163	+0.231%	$615K	$5.4M	—	as long as short
edgeX 1000PEPEUSDCshort	+0.0100%	4h	0.000005172	+0.404%	$28K	$548K	20x
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005159	+0.157%	$1K	$2.7M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005142	−0.161%	$599K	$4.2M	75x	as long as short
KuCoin PEPEUSDTM	+0.0126%	8h	0.000005156	+0.105%	$27.0M	$74.1M	75x	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	+0.0144%	1h	0.000005155	+0.083%	$2K	$11K	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005143	−0.153%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0252%	8h	0.000005154	+0.066%	$46.3M	$220.2M	75x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0298%	1h	0.000005173	+0.433%	$150K	$834K	25x	as long as short
OKX PEPE-USDT-SWAP	+0.0366%	8h	0.000005158	+0.142%	$47.7M	$748.6M	50x	as long as short
Injective PEPE/USDC PERP	+0.0404%	1h	0.000005152	+0.025%	$8K	$120K	12x	as long as short
Orderly PERP_1000PEPE_USDClong	+0.0415%	8h	0.000005151	long leg	$34K	$26K	20x
Paradex kPEPE-USD-PERP	+0.0461%	8h	0.000005148	−0.046%	$6K	—	20x	as long as short
Phemex u1000PEPEUSDT	+0.0464%	8h	0.000005159	+0.165%	$2.4M	$8.1M	50x	as long as short
BloFin PEPE-USDT	+0.0488%	8h	0.000005155	+0.083%	$4.5M	$30.4M	75x	as long as short
Backpack kPEPE_USDC_PERP	+0.0519%	1h	0.000005158	+0.146%	$79K	$890K	15x	as long as short
Lighter 1000PEPE	+0.0520%	1h	0.000005155	+0.083%	$619K	$9.1M	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0527%	1h	0.000005151	+0.006%	$73K	$127K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0544%	1h	0.000005143	−0.149%	$670K	$39.7M	50x	as long as short
BingX 1000PEPE-USDC	+0.0697%	8h	0.000005153	+0.054%	—	$2.3M	—	as long as short
01 Exchange kPEPEUSD	+0.0712%	1h	0.000005162	+0.219%	$623	$2K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0712%	1h	0.000005152	+0.021%	$4.8M	$16.7M	50x	as long as short
Nado kPEPE-PERP	+0.0715%	1h	0.000005144	−0.137%	$165K	$958K	10x	as long as short
Binance 1000PEPEUSDT	+0.0717%	8h	0.000005153	+0.049%	$142.1M	$1.50B	75x	as long as short
Extended 1000PEPE-USD	+0.0720%	1h	0.000005151	−0.003%	$542K	$282K	25x	as long as short
MEXC PEPE_USDT	+0.0720%	8h	0.000005153	+0.050%	$101.1M	$308.6M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0720%	1h	0.000005152	+0.025%	$146K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0721%	8h	0.000005157	+0.119%	$1.7M	$12.0M	50x	as long as short
Hyperliquid kPEPE	+0.0929%	1h	0.000005157	+0.122%	$53.7M	$159.2M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1068% / S −0.1281%	1h	0.000005000	−2.926%	$50K	—	100x	as long as short