Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0486%/8h= −53.3% APRpaid last 24h −0.010%

Price spread now: GMX against Aster−18.281%7-day average — · you buy dearer than you sell

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

Long on Aster Short on GMX

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 airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and GMX is 18.281% cheaper against Aster than usual: you would sell low and buy high (−$1,828 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	Aster 1000PEPEUSDT	0.000004895	0.0860	pay 0.0860% / 8h	2h 48m	$1.5M	$6.7M	50x
Short	GMX PEPE/USD [ETH-USDC]	0.000004000	L +0.0318% / S −0.0374%	get 0.0047% / 1h	48m 44s	$42K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Aster. 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 AsterbpFee GMXbpOrdersPrice spread, now −18.281%Rate

Funding earned: −$102.16
Price spread: −18.281% → 0.000%: −$1,828.08
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: −$1,950.24
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 5 min ago; GMX: 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 Aster live order book, 5 min ago	2.38 bp	8.2 bp −$8	16.8 bp −$168	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	0.000004888	−0.129%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000004880	−0.311%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004893	−0.037%	$56.7M	$68.5M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004894	−0.017%	$57K	$109K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004893	−0.039%	$89.5M	$272.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004888	−0.139%	$149.1M	$60.5M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004883	−0.231%	$24.4M	$50.4M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004845	−1.027%	$708K	$3.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004830	−1.320%	$27K	$336K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004892	−0.051%	$2K	$2.4M	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	0.000004871	−0.491%	$553K	$3.5M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0110%	8h	0.000004894	−0.017%	$42.0M	$494.7M	50x	as long as short
Lighter 1000PEPE	+0.0152%	1h	0.000004894	−0.017%	$547K	$5.0M	10x	as long as short
Bitget PEPEUSDT	+0.0174%	8h	0.000004890	−0.106%	$44.9M	$150.3M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004877	−0.361%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0225%	8h	0.000004884	−0.221%	$4.0M	$21.7M	75x	as long as short
Backpack kPEPE_USDC_PERP	+0.0291%	1h	0.000004885	−0.207%	$109K	$619K	15x	as long as short
GMX PEPE/USD [ETH-USDC]short	L +0.0318% / S −0.0374%	1h	0.000004000	−18.281%	$42K	—	100x
Paradex kPEPE-USD-PERP	+0.0339%	8h	0.000004878	−0.340%	$5K	$16	20x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0354%	8h	0.000004879	−0.329%	$30K	$10K	20x	as long as short
Phemex u1000PEPEUSDT	+0.0421%	8h	0.000004884	−0.213%	$2.3M	$6.3M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004874	−0.425%	$598K	$25.6M	50x	as long as short
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004880	−0.303%	$4K	$92K	12x	as long as short
SoDEX 1000PEPE-USD	+0.0616%	1h	0.000004884	−0.221%	$2K	$9K	10x	as long as short
Nado kPEPE-PERP	+0.0685%	1h	0.000004875	−0.394%	$182K	$868K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0750%	1h	0.000004885	−0.191%	$3.9M	$12.8M	50x	as long as short
BingX 1000PEPE-USDC	+0.0756%	8h	0.000004884	−0.227%	—	$2.3M	—	as long as short
ApeX Omni 1000PEPEUSDT	+0.0766%	1h	0.000004850	−0.915%	$101K	$757K	25x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0775%	1h	0.000004884	−0.221%	$82K	$94K	25x	as long as short
MEXC PEPE_USDT	+0.0791%	8h	0.000004895	+0.010%	$92.7M	$286.9M	300x	as long as short
Extended 1000PEPE-USD	+0.0792%	1h	0.000004892	−0.065%	$538K	$146K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0792%	1h	0.000004893	−0.037%	$138K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0799%	8h	0.000004899	+0.093%	$129.4M	$1.01B	75x	as long as short
Aster 1000PEPEUSDTlong	+0.0860%	8h	0.000004895	long leg	$1.5M	$6.7M	50x
01 Exchange kPEPEUSD	+0.1640%	1h	0.000004886	−0.180%	$560	$2K	10x	as long as short