Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0405%/8h= +44.4% APRpaid last 24h −0.022%

Price spread now: Paradex against SoDEX−0.084%7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on Paradex

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 airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.084% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.084% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 17 hours of funding at the current rate (+$12 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX 1000PEPE-USD	0.000005163	0.0100	pay 0.0013% / 1h	52m 08s	$2K	$11K	10x
Short	Paradex kPEPE-USD-PERP	0.000005159	0.0505	get 0.0505% / 8h	1h 52m	$6K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against SoDEX. 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 SoDEXbpFee ParadexbpOrdersPrice spread, now −0.084%Rate

Funding earned: $85.15
Price spread: −0.084% → 0.000%: −$8.43
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: $64.72
Costs to cover: 0.120%
Break-even: 1.7 days

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

SoDEX and 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	0.000005158	−0.097%	$10K	$119K	12x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000005156	−0.143%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005159	−0.081%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005163	0.000%	$60K	$180K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005152	−0.213%	$101.3M	$414.4M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005156	−0.136%	$163.6M	$95.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005160	−0.052%	$25.7M	$71.9M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005162	−0.027%	$615K	$5.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005167	+0.080%	$28K	$540K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005172	+0.170%	$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-USDlong	+0.0100%	1h	0.000005163	long leg	$2K	$11K	10x
HTX PEPE-USDT	+0.0100%	8h	0.000005165	+0.033%	$594K	$4.2M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005161	−0.046%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0306%	8h	0.000005162	−0.019%	$46.2M	$213.9M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0379%	8h	0.000005162	−0.027%	$34K	$26K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0415%	8h	0.000005154	−0.174%	$48.4M	$722.4M	50x	as long as short
Kraken Futures PF_PEPEUSD	+0.0452%	1h	0.000005160	−0.066%	$4.7M	$16.8M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0476%	1h	0.000005163	−0.006%	$72K	$848K	15x	as long as short
Paradex kPEPE-USD-PERPshort	+0.0505%	8h	0.000005159	−0.084%	$6K	—	20x
BloFin PEPE-USDT	+0.0539%	8h	0.000005149	−0.271%	$4.5M	$29.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0569%	8h	0.000005164	+0.014%	$2.4M	$8.0M	50x	as long as short
Lighter 1000PEPE	+0.0600%	1h	0.000005165	+0.039%	$621K	$9.0M	10x	as long as short
01 Exchange kPEPEUSD	+0.0624%	1h	0.000005167	+0.077%	$623	$3K	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0624%	1h	0.000005164	+0.019%	$682K	$38.6M	50x	as long as short
Nado kPEPE-PERP	+0.0718%	1h	0.000005165	+0.043%	$164K	$956K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0719%	1h	0.000005163	0.000%	$74K	$127K	25x	as long as short
BingX 1000PEPE-USDT	+0.0750%	8h	0.000005158	−0.091%	—	$217.4M	—	as long as short
Extended 1000PEPE-USD	+0.0776%	1h	0.000005161	−0.030%	$547K	$285K	25x	as long as short
Binance 1000PEPEUSDT	+0.0780%	8h	0.000005158	−0.095%	$142.5M	$1.45B	75x	as long as short
MEXC PEPE_USDT	+0.0782%	8h	0.000005166	+0.054%	$98.6M	$302.3M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0784%	1h	0.000005160	−0.058%	$146K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0800%	8h	0.000005157	−0.117%	$1.8M	$11.6M	50x	as long as short
Hyperliquid kPEPE	+0.0923%	1h	0.000005167	+0.077%	$55.2M	$154.5M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1133% / S −0.2351%	1h	0.000005000	−3.157%	$63K	—	100x	as long as short
ApeX Omni 1000PEPEUSDT	+0.1244%	1h	0.000005189	+0.504%	$157K	$818K	25x	as long as short