Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0089%/8h= −9.7% APRpaid last 24h −0.029%

Price spread now: KuCoin against Reya−0.295%7-day average — · you buy dearer than you sell

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

Long on Reya Short on KuCoin

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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and KuCoin is 0.295% cheaper against Reya than usual: you would sell low and buy high (−$30 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	Reya kPEPERUSDPERP	0.000005041	0.0189	pay 0.0024% / 1h	36m 24s	$8K	—	15x
Short	KuCoin PEPEUSDTM	0.000005026	0.0100	get 0.0100% / 8h	6h 36m	$24.9M	$59.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Reya. 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 ReyabpFee KuCoinbpOrdersPrice spread, now −0.295%Rate

Funding earned: −$18.64
Price spread: −0.295% → 0.000%: −$29.53
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$66.17
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; KuCoin: live order book, 8 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 Reya no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 8 min ago	2.48 bp	9.1 bp −$9	25.4 bp −$254	doesn't fit	doesn't fit

Reya: 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	0.000005013	−0.557%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005031	−0.200%	$3K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005019	−0.432%	$61K	$125K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005021	−0.399%	$97.4M	$320.8M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005015	−0.512%	$159.8M	$70.1M	75x	as long as short
KuCoin PEPEUSDTMshort	+0.0100%	8h	0.000005026	−0.295%	$24.9M	$59.7M	75x
Bitget PEPEUSDT	+0.0100%	8h	0.000005038	−0.063%	$44.7M	$158.7M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005000	−0.815%	$564K	$4.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005012	−0.572%	$27K	$407K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005019	−0.434%	$1K	$2.5M	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	0.000005029	−0.226%	$567K	$3.6M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0152%	8h	0.000005019	−0.426%	$2.4M	$6.8M	50x	as long as short
Reya kPEPERUSDPERPlong	+0.0189%	1h	0.000005041	long leg	$8K	—	15x
OKX PEPE-USDT-SWAP	+0.0218%	8h	0.000005031	−0.194%	$44.6M	$561.3M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0227%	1h	0.000005016	−0.492%	$105K	$751K	25x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0275%	8h	0.000005017	−0.478%	$33K	$23K	20x	as long as short
BloFin PEPE-USDT	+0.0318%	8h	0.000005008	−0.650%	$4.2M	$24.6M	75x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0424%	1h	0.000005018	−0.452%	$663K	$28.8M	50x	as long as short
BingX 1000PEPE-USDT	+0.0470%	8h	0.000005021	−0.393%	—	$258.4M	—	as long as short
Paradex kPEPE-USD-PERP	+0.0477%	8h	0.000005019	−0.432%	$6K	$16	20x	as long as short
Aevo 1000PEPE-PERP	+0.0488%	1h	0.000005019	−0.432%	$142K	—	3x	as long as short
Extended 1000PEPE-USD	+0.0496%	1h	0.000005022	−0.380%	$551K	$199K	25x	as long as short
MEXC PEPE_USDT	+0.0499%	8h	0.000005047	+0.131%	$94.6M	$289.1M	300x	as long as short
Binance 1000PEPEUSDT	+0.0499%	8h	0.000005027	−0.268%	$140.7M	$1.16B	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0506% / S −0.0383%	1h	0.000005000	−0.809%	$65K	—	100x	as long as short
SoDEX 1000PEPE-USD	+0.0575%	1h	0.000005020	−0.412%	$2K	$12K	10x	as long as short
Aster 1000PEPEUSDT	+0.0582%	8h	0.000005022	−0.377%	$1.7M	$8.1M	50x	as long as short
Nado kPEPE-PERP	+0.0631%	1h	0.000005033	−0.163%	$177K	$880K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0747%	1h	0.000005019	−0.432%	$61K	$114K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0830%	1h	0.000005018	−0.459%	$3.9M	$14.4M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0903%	1h	0.000005021	−0.391%	$102K	$626K	15x	as long as short
Injective PEPE/USDC PERP	+0.0909%	1h	0.000005031	−0.194%	$4K	$102K	12x	as long as short
01 Exchange kPEPEUSD	+0.0952%	1h	0.000005031	−0.194%	$1K	$2K	10x	as long as short
Lighter 1000PEPE	+0.1240%	1h	0.000005023	−0.353%	$651K	$6.8M	10x	as long as short
Hyperliquid kPEPE	+0.2350%	1h	0.000005043	+0.044%	$55.8M	$135.3M	10x	as long as short