Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0121%/8h= +13.2% APRpaid last 24h +0.082%

Price spread now: Lighter against Paradex−0.031%57s7-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 Lighter

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 · Lighter: Season 3 · farm boardneeds both histories

Funding pays, the price is against you. Lighter is 0.031% cheaper against Paradex than usual: you would sell low and buy high (spread −0.031% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 20 hours of funding at the current rate (+$4 a day). The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex kPEPE-USD-PERP	0.000005110	0.0799	pay 0.0799% / 8h	4h 39m	$6K	—	20x
Short	Lighter 1000PEPE	0.000005108	0.0920	get 0.0115% / 1h	39m 42s	$579K	$8.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.031%Rate

Funding earned: $25.36
Price spread: −0.031% → 0.000%: −$3.09
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: $18.27
Costs to cover: 0.040%
Break-even: 2.0 days

Slippage unknown: Paradex: no order-book sample; Lighter: live order book, 14 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 Lighter live order book, 14 min ago	4.93 bp	6.6 bp −$7	14.0 bp −$140	47.4 bp −$4,737	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
dYdX PEPE-USD	0.0000%	1h	0.000005098	−0.225%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005096	−0.272%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005109	−0.011%	$65K	$140K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005099	−0.203%	$99.7M	$346.5M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005110	+0.008%	$169.0M	$76.2M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005106	−0.078%	$26.2M	$63.9M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005091	−0.372%	$688K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005091	−0.373%	$31K	$451K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005116	+0.122%	$2K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005107	−0.056%	$585K	$3.7M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PEPEUSDT	+0.0173%	8h	0.000005109	−0.011%	$46.6M	$175.2M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005108	−0.041%	$8K	—	15x	as long as short
Injective PEPE/USDC PERP	+0.0254%	1h	0.000005044	−1.283%	$3K	$102K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0334%	8h	0.000005116	+0.132%	$34K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0366%	8h	0.000005100	−0.187%	$46.1M	$604.3M	50x	as long as short
BloFin PEPE-USDT	+0.0482%	8h	0.000005099	−0.207%	$4.4M	$25.6M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0586%	8h	0.000005105	−0.084%	$2.4M	$7.1M	50x	as long as short
BingX 1000PEPE-USDT	+0.0647%	8h	0.000005112	+0.038%	—	$261.9M	—	as long as short
ApeX Omni 1000PEPEUSDT	+0.0663%	1h	0.000005050	−1.166%	$100K	$742K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0672%	1h	0.000005113	+0.067%	$979K	$32.2M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0674% / S −0.0928%	1h	0.000005000	−2.145%	$46K	—	100x	as long as short
Aevo 1000PEPE-PERP	+0.0688%	1h	0.000005101	−0.168%	$144K	—	3x	as long as short
MEXC PEPE_USDT	+0.0694%	8h	0.000005115	+0.106%	$93.7M	$287.6M	300x	as long as short
Extended 1000PEPE-USD	+0.0696%	1h	0.000005112	+0.043%	$541K	$226K	25x	as long as short
Binance 1000PEPEUSDT	+0.0699%	8h	0.000005106	−0.072%	$144.8M	$1.23B	75x	as long as short
SoDEX 1000PEPE-USD	+0.0707%	1h	0.000005109	−0.011%	$2K	$12K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0729%	1h	0.000005110	+0.008%	$72K	$124K	25x	as long as short
Nado kPEPE-PERP	+0.0768%	1h	0.000005110	+0.011%	$199K	$880K	10x	as long as short
Aster 1000PEPEUSDT	+0.0794%	8h	0.000005107	−0.045%	$1.8M	$9.3M	50x	as long as short
Paradex kPEPE-USD-PERPlong	+0.0799%	8h	0.000005110	long leg	$6K	—	20x
Lighter 1000PEPEshort	+0.0920%	1h	0.000005108	−0.031%	$579K	$8.2M	10x
Backpack kPEPE_USDC_PERP	+0.0948%	1h	0.000005107	−0.054%	$98K	$655K	15x	as long as short
01 Exchange kPEPEUSD	+0.1032%	1h	0.000005128	+0.360%	$619	$3K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1276%	1h	0.000005106	−0.069%	$4.5M	$15.5M	50x	as long as short
Hyperliquid kPEPE	+0.1463%	1h	0.000005114	+0.087%	$54.9M	$140.3M	10x	as long as short