Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0455%/8h= +49.8% APRpaid last 24h +0.069%

Price spread now: Injective against SunX+0.262%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$181as in the Funding arb table

Net, price: spread back to 7d avg − costs−$188as in the Price arb table

costs, in and out, $10k−$2142.140% of the position

Long on SunX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.325%+$32 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Injective is 0.262% dearer against SunX than usual: you sell high and buy low: +$26 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX 1000PEPE-USDT	0.000004811	0.0100	pay 0.0100% / 8h	2h 06m	$1K	$2.4M	20x
Short	Injective PEPE/USDC PERP	0.000004824	0.0555	get 0.0069% / 1h	6m 49s	$4K	$110K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against SunX. 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 SunXbpFee InjectivebpOrdersPrice spread, now +0.262%Rate

Funding earned: $95.58
Price spread: +0.262% → 0.000%: $26.19
Slippage, 4 orders: −$205.95
Fee SunX: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$92.19
Costs to cover: 2.140%
Break-even: 13.8 days

Slippage from SunX: live order book, 9 min ago; Injective: live order book, 17 min ago.

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 SunX live order book, 9 min ago	29.03 bp	47.2 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Injective live order book, 17 min ago	22.68 bp	22.7 bp −$23	doesn't fit	doesn't fit	doesn't fit

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	0.000004797	−0.305%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004800	−0.233%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004796	−0.320%	$58.3M	$72.7M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004806	−0.112%	$59K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004796	−0.312%	$87.3M	$275.5M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004796	−0.320%	$149.9M	$62.3M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004801	−0.208%	$24.9M	$53.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004820	+0.187%	$577K	$3.8M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004830	+0.381%	$27K	$340K	20x	as long as short
SunX 1000PEPE-USDTlong	+0.0100%	8h	0.000004811	long leg	$1K	$2.4M	20x

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000004804	−0.148%	$553K	$3.4M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0182%	8h	0.000004801	−0.216%	$41.4M	$484.7M	50x	as long as short
Bitget PEPEUSDT	+0.0184%	8h	0.000004795	−0.337%	$42.3M	$150.9M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004802	−0.187%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0299%	8h	0.000004803	−0.175%	$3.9M	$21.8M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0318% / S −0.0217%	1h	0.000004000	−16.864%	$52K	—	100x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0420%	8h	0.000004810	−0.033%	$29K	$11K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004808	−0.071%	$578K	$25.1M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0496%	8h	0.000004809	−0.048%	$2.3M	$6.4M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0530%	8h	0.000004802	−0.188%	$5K	$16	20x	as long as short
Injective PEPE/USDC PERPshort	+0.0555%	1h	0.000004824	+0.262%	$4K	$110K	12x
Deribit 1000PEPE_USDC-PERPETUAL	+0.0583%	1h	0.000004807	−0.091%	$81K	$94K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0713%	1h	0.000004806	−0.118%	$92K	$624K	15x	as long as short
Lighter 1000PEPE	+0.0744%	1h	0.000004806	−0.112%	$599K	$5.3M	10x	as long as short
Nado kPEPE-PERP	+0.0745%	1h	0.000004805	−0.142%	$188K	$848K	10x	as long as short
SoDEX 1000PEPE-USD	+0.0756%	1h	0.000004809	−0.050%	$2K	$9K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0759%	1h	0.000004830	+0.387%	$103K	$762K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0762%	1h	0.000004806	−0.104%	$3.9M	$13.1M	50x	as long as short
BingX 1000PEPE-USDT	+0.0827%	8h	0.000004803	−0.168%	—	$254.7M	—	as long as short
Extended 1000PEPE-USD	+0.0872%	1h	0.000004799	−0.265%	$529K	$147K	25x	as long as short
MEXC PEPE_USDT	+0.0872%	8h	0.000004804	−0.154%	$91.3M	$292.4M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0872%	1h	0.000004813	+0.033%	$136K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0873%	8h	0.000004803	−0.168%	$128.0M	$1.02B	75x	as long as short
Aster 1000PEPEUSDT	+0.0900%	8h	0.000004803	−0.173%	$1.5M	$6.9M	50x	as long as short
01 Exchange kPEPEUSD	+0.1200%	1h	0.000004809	−0.050%	$551	$2K	10x	as long as short