Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0112%/8h= +12.3% APRpaid last 24h +0.040%

Price spread now: Coinbase International against Paradex−0.079%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Coinbase International

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 airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Coinbase International is 0.079% cheaper against Paradex than usual: you would sell low and buy high (spread −0.079% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 2.3 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex kPEPE-USD-PERP	0.000005168	0.0512	pay 0.0512% / 8h	1h 54m	$6K	—	20x
Short	Coinbase International 1000PEPE-PERP-INTX	0.000005164	0.0624	get 0.0078% / 1h	54m 00s	$698K	$38.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Paradex. 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 ParadexbpFee Coinbase InternationalbpOrdersPrice spread, now −0.079%Rate

Funding earned: $23.53
Price spread: −0.079% → 0.000%: −$7.86
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $1.67
Costs to cover: 0.140%
Break-even: 6.5 days

Slippage unknown: Paradex: no order-book sample; Coinbase International: live order book, 5 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 Paradex no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 5 min ago	4.81 bp	9.8 bp −$10	16.4 bp −$164	doesn't fit	doesn't fit

Paradex: 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	0.000005156	−0.233%	$10K	$119K	12x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000005167	−0.021%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005160	−0.158%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005171	+0.057%	$60K	$180K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005167	−0.028%	$101.6M	$414.1M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005161	−0.137%	$163.8M	$95.7M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005166	−0.034%	$25.7M	$71.9M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005162	−0.125%	$615K	$5.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005173	+0.095%	$28K	$539K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005176	+0.144%	$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	0.000005169	+0.018%	$2K	$11K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005174	+0.111%	$595K	$4.2M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005168	+0.004%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0309%	8h	0.000005166	−0.036%	$46.2M	$213.8M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0379%	8h	0.000005168	−0.009%	$34K	$26K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0415%	8h	0.000005169	+0.018%	$48.4M	$723.7M	50x	as long as short
Kraken Futures PF_PEPEUSD	+0.0452%	1h	0.000005165	−0.058%	$4.7M	$16.8M	50x	as long as short
Paradex kPEPE-USD-PERPlong	+0.0512%	8h	0.000005168	long leg	$6K	—	20x
Deribit 1000PEPE_USDC-PERPETUAL	+0.0525%	1h	0.000005166	−0.040%	$74K	$127K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0526%	1h	0.000005166	−0.036%	$72K	$848K	15x	as long as short
BloFin PEPE-USDT	+0.0542%	8h	0.000005178	+0.192%	$4.6M	$29.6M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0582%	8h	0.000005163	−0.102%	$2.4M	$8.0M	50x	as long as short
Lighter 1000PEPE	+0.0624%	1h	0.000005172	+0.076%	$622K	$9.0M	10x	as long as short
Coinbase International 1000PEPE-PERP-INTXshort	+0.0624%	1h	0.000005164	−0.079%	$698K	$38.3M	50x
01 Exchange kPEPEUSD	+0.0640%	1h	0.000005171	+0.057%	$624	$3K	10x	as long as short
Nado kPEPE-PERP	+0.0715%	1h	0.000005168	−0.008%	$164K	$956K	10x	as long as short
BingX 1000PEPE-USDT	+0.0750%	8h	0.000005168	−0.009%	—	$217.4M	—	as long as short
Binance 1000PEPEUSDT	+0.0782%	8h	0.000005164	−0.072%	$142.7M	$1.45B	75x	as long as short
Extended 1000PEPE-USD	+0.0784%	1h	0.000005167	−0.014%	$547K	$285K	25x	as long as short
MEXC PEPE_USDT	+0.0784%	8h	0.000005169	+0.020%	$98.5M	$302.0M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0784%	1h	0.000005170	+0.038%	$146K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0806%	8h	0.000005165	−0.060%	$1.8M	$11.6M	50x	as long as short
Hyperliquid kPEPE	+0.0920%	1h	0.000005172	+0.076%	$55.2M	$154.4M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1133% / S −0.2351%	1h	0.000005000	−3.252%	$64K	—	100x	as long as short
ApeX Omni 1000PEPEUSDT	+0.1244%	1h	0.000005189	+0.405%	$157K	$818K	25x	as long as short