Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0225%/8h= −24.6% APRpaid last 24h +0.049%

Price spread now: SoDEX against Orderly+0.094%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 SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. SoDEX is 0.094% dearer against Orderly than usual: you sell high and buy low (spread +0.094% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_1000PEPE_USDC	0.000005096	0.0394	pay 0.0394% / 8h	1h 18m	$34K	$26K	20x
Short	SoDEX 1000PEPE-USD	0.000005101	0.0170	get 0.0021% / 1h	18m 17s	$2K	$11K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.094%Rate

Funding earned: −$47.15
Price spread: +0.094% → 0.000%: $9.42
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$51.73
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; SoDEX: 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 Orderly no order-book sample	—	—	—	—	—
Sell SoDEX no order-book sample	—	—	—	—	—

Orderly and SoDEX: 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
Injective PEPE/USDC PERP	−0.0016%	1h	0.000005109	+0.251%	$9K	$120K	12x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000005094	−0.041%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005095	−0.018%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005101	+0.094%	$59K	$181K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005099	+0.055%	$99.3M	$419.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005097	+0.016%	$162.4M	$97.4M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005099	+0.063%	$25.9M	$72.5M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005098	+0.028%	$596K	$5.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005087	−0.187%	$28K	$542K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005108	+0.239%	$2K	$2.7M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005098	+0.027%	$591K	$4.2M	75x	as long as short
SoDEX 1000PEPE-USDshort	+0.0170%	1h	0.000005101	+0.094%	$2K	$11K	10x
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005097	+0.023%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0285%	8h	0.000005099	+0.063%	$45.6M	$215.9M	75x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0310%	1h	0.000005094	−0.043%	$154K	$824K	25x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0339%	1h	0.000005097	+0.016%	$73K	$127K	25x	as long as short
Orderly PERP_1000PEPE_USDClong	+0.0394%	8h	0.000005096	long leg	$34K	$26K	20x
OKX PEPE-USDT-SWAP	+0.0396%	8h	0.000005102	+0.114%	$47.2M	$725.3M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0429%	1h	0.000005098	+0.031%	$73K	$860K	15x	as long as short
Kraken Futures PF_PEPEUSD	+0.0458%	1h	0.000005098	+0.033%	$4.6M	$16.5M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0509%	8h	0.000005100	+0.078%	$6K	—	20x	as long as short
BloFin PEPE-USDT	+0.0518%	8h	0.000005095	−0.024%	$4.4M	$29.3M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0559%	8h	0.000005097	+0.010%	$2.4M	$8.0M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0624%	1h	0.000005096	−0.004%	$680K	$38.5M	50x	as long as short
Lighter 1000PEPE	+0.0680%	1h	0.000005103	+0.133%	$608K	$9.1M	10x	as long as short
01 Exchange kPEPEUSD	+0.0680%	1h	0.000005102	+0.114%	$615	$3K	10x	as long as short
BingX 1000PEPE-USDT	+0.0730%	8h	0.000005096	−0.012%	—	$217.9M	—	as long as short
Nado kPEPE-PERP	+0.0754%	1h	0.000005097	+0.007%	$164K	$959K	10x	as long as short
Aster 1000PEPEUSDT	+0.0763%	8h	0.000005102	+0.114%	$1.7M	$11.7M	50x	as long as short
Binance 1000PEPEUSDT	+0.0768%	8h	0.000005097	+0.019%	$140.3M	$1.47B	75x	as long as short
Extended 1000PEPE-USD	+0.0768%	1h	0.000005098	+0.032%	$541K	$280K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0768%	1h	0.000005102	+0.114%	$144K	—	3x	as long as short
MEXC PEPE_USDT	+0.0769%	8h	0.000005100	+0.078%	$98.6M	$305.7M	300x	as long as short
Hyperliquid kPEPE	+0.0946%	1h	0.000005103	+0.133%	$52.8M	$156.5M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1130% / S −0.2257%	1h	0.000005000	−1.888%	$63K	—	100x	as long as short