Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0538%/8h= −58.9% APRpaid last 24h +0.069%

Price spread now: Injective against Paradex−0.156%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 Injective

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

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Injective is 0.156% cheaper against Paradex than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex kPEPE-USD-PERP	0.000005170	0.0521	pay 0.0521% / 8h	1h 00m	$6K	—	20x
Short	Injective PEPE/USDC PERP	0.000005162	−0.0016	pay 0.0002% / 1h	0m 02s	$8K	$120K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.156%Rate

Funding earned: −$112.94
Price spread: −0.156% → 0.000%: −$15.57
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$132.53
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Injective: live order book, 44 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 Injective live order book, 44 min ago	29.05 bp	29.1 bp −$29	doesn't fit	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 PERPshort	−0.0016%	1h	0.000005162	−0.156%	$8K	$120K	12x
dYdX PEPE-USD	0.0000%	1h	0.000005164	−0.118%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005168	−0.045%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005169	−0.020%	$60K	$182K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005163	−0.136%	$100.9M	$422.2M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005168	−0.040%	$164.5M	$98.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005174	+0.069%	$606K	$5.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005170	−0.005%	$28K	$545K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005181	+0.218%	$1K	$2.7M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005175	+0.086%	$601K	$4.2M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin PEPEUSDTM	+0.0109%	8h	0.000005168	−0.045%	$26.5M	$72.7M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0182%	1h	0.000005173	+0.057%	$2K	$11K	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005172	+0.037%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0283%	8h	0.000005167	−0.057%	$46.3M	$216.6M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0401%	8h	0.000005166	−0.078%	$47.7M	$738.4M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0401%	8h	0.000005169	−0.015%	$34K	$26K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0441%	1h	0.000005174	+0.076%	$150K	$830K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0451%	1h	0.000005170	−0.002%	$4.7M	$16.5M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0475%	1h	0.000005172	+0.032%	$76K	$867K	15x	as long as short
Phemex u1000PEPEUSDT	+0.0517%	8h	0.000005174	+0.073%	$2.4M	$8.1M	50x	as long as short
BloFin PEPE-USDT	+0.0518%	8h	0.000005178	+0.154%	$4.4M	$30.0M	75x	as long as short
Paradex kPEPE-USD-PERPlong	+0.0521%	8h	0.000005170	long leg	$6K	—	20x
Coinbase International 1000PEPE-PERP-INTX	+0.0624%	1h	0.000005176	+0.115%	$698K	$39.2M	50x	as long as short
01 Exchange kPEPEUSD	+0.0680%	1h	0.000005180	+0.192%	$625	$3K	10x	as long as short
Nado kPEPE-PERP	+0.0705%	1h	0.000005167	−0.064%	$165K	$954K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0718%	1h	0.000005172	+0.038%	$74K	$127K	25x	as long as short
BingX 1000PEPE-USDT	+0.0721%	8h	0.000005167	−0.061%	—	$218.2M	—	as long as short
Lighter 1000PEPE	+0.0736%	1h	0.000005175	+0.096%	$618K	$9.1M	10x	as long as short
Aster 1000PEPEUSDT	+0.0745%	8h	0.000005166	−0.076%	$1.8M	$11.7M	50x	as long as short
MEXC PEPE_USDT	+0.0755%	8h	0.000005167	−0.057%	$100.8M	$307.6M	300x	as long as short
Binance 1000PEPEUSDT	+0.0758%	8h	0.000005168	−0.031%	$142.2M	$1.47B	75x	as long as short
Extended 1000PEPE-USD	+0.0760%	1h	0.000005166	−0.085%	$542K	$286K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0760%	1h	0.000005171	+0.018%	$146K	—	3x	as long as short
Hyperliquid kPEPE	+0.0958%	1h	0.000005172	+0.038%	$53.7M	$157.0M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1133% / S −0.2249%	1h	0.000005000	−3.289%	$64K	—	100x	as long as short