Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0445%/8h= +48.7% APRpaid last 24h −0.059%

Price spread now: Phemex against SoDEX−0.037%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 Phemex

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—needs both histories

Funding pays, the price is against you. Phemex is 0.037% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.037% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 7 hours of funding at the current rate (+$13 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX 1000PEPE-USD	0.000005158	0.0121	pay 0.0015% / 1h	44m 02s	$2K	$11K	10x
Short	Phemex u1000PEPEUSDT	0.000005156	0.0566	get 0.0566% / 8h	1h 44m	$2.4M	$8.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.037%Rate

Funding earned: $93.39
Price spread: −0.037% → 0.000%: −$3.68
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: $69.7
Costs to cover: 0.200%
Break-even: 1.8 days

Slippage unknown: SoDEX: no order-book sample; Phemex: 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 SoDEX no order-book sample	—	—	—	—	—
Sell Phemex live order book, 5 min ago	12.79 bp	29.0 bp −$29	46.1 bp −$461	doesn't fit	doesn't fit

SoDEX: 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	0.000005128	−0.582%	$10K	$119K	12x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000005170	+0.232%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005160	+0.048%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005172	+0.271%	$60K	$180K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005154	−0.078%	$101.5M	$415.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005153	−0.097%	$164.5M	$96.3M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005155	−0.056%	$26.0M	$72.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005133	−0.492%	$612K	$5.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005156	−0.035%	$28K	$542K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005164	+0.114%	$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
HTX PEPE-USDT	+0.0100%	8h	0.000005163	+0.095%	$595K	$4.2M	75x	as long as short
SoDEX 1000PEPE-USDlong	+0.0121%	1h	0.000005158	long leg	$2K	$11K	10x
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005166	+0.160%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0299%	8h	0.000005157	−0.016%	$46.1M	$214.5M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0382%	8h	0.000005160	+0.031%	$34K	$26K	20x	as long as short
Backpack kPEPE_USDC_PERP	+0.0416%	1h	0.000005153	−0.089%	$74K	$855K	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0417%	8h	0.000005157	−0.019%	$48.3M	$727.0M	50x	as long as short
Kraken Futures PF_PEPEUSD	+0.0453%	1h	0.000005153	−0.098%	$4.7M	$16.8M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0505%	8h	0.000005171	+0.260%	$6K	—	20x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0526%	1h	0.000005159	+0.019%	$74K	$127K	25x	as long as short
BloFin PEPE-USDT	+0.0542%	8h	0.000005170	+0.233%	$4.6M	$29.7M	75x	as long as short
Phemex u1000PEPEUSDTshort	+0.0566%	8h	0.000005156	−0.037%	$2.4M	$8.0M	50x
ApeX Omni 1000PEPEUSDT	+0.0577%	1h	0.000005157	−0.019%	$156K	$821K	25x	as long as short
Lighter 1000PEPE	+0.0584%	1h	0.000005159	+0.019%	$620K	$9.0M	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0624%	1h	0.000005160	+0.039%	$679K	$38.8M	50x	as long as short
01 Exchange kPEPEUSD	+0.0656%	1h	0.000005173	+0.291%	$624	$3K	10x	as long as short
Nado kPEPE-PERP	+0.0730%	1h	0.000005162	+0.076%	$164K	$957K	10x	as long as short
BingX 1000PEPE-USDC	+0.0743%	8h	0.000005156	−0.045%	—	$2.3M	—	as long as short
Aevo 1000PEPE-PERP	+0.0768%	1h	0.000005158	0.000%	$146K	—	3x	as long as short
MEXC PEPE_USDT	+0.0770%	8h	0.000005155	−0.056%	$99.2M	$303.0M	300x	as long as short
Binance 1000PEPEUSDT	+0.0773%	8h	0.000005152	−0.108%	$142.7M	$1.45B	75x	as long as short
Extended 1000PEPE-USD	+0.0776%	1h	0.000005154	−0.068%	$547K	$286K	25x	as long as short
Aster 1000PEPEUSDT	+0.0785%	8h	0.000005155	−0.065%	$1.8M	$11.7M	50x	as long as short
Hyperliquid kPEPE	+0.0985%	1h	0.000005159	+0.019%	$55.2M	$154.8M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1133% / S −0.2351%	1h	0.000005000	−3.063%	$64K	—	100x	as long as short