Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0549%/8h= −60.1% APRpaid last 24h −0.013%

Price spread now: gTrade (Gains Network) against Binance−0.059%7-day average — · you buy dearer than you sell

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

Long on Binance Short on gTrade (Gains Network)

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

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and gTrade (Gains Network) is 0.059% cheaper against Binance than usual: you would sell low and buy high (−$6 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	Binance 1000PEPEUSDT	0.000004769	0.0555	pay 0.0555% / 8h	1m 36s	$134.1M	$1.07B	75x
Short	gTrade (Gains Network) PEPE/USD	0.000004766	L +0.0006% / S −0.0006%	get 0.0001% / 1h	1m 36s	$14K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Binance. 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 BinancebpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.059%Rate

Funding earned: −$115.19
Price spread: −0.059% → 0.000%: −$5.87
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$141.06
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 12 min ago; gTrade (Gains Network): 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 Binance live order book, 12 min ago	0.11 bp	5.9 bp −$6	11.5 bp −$115	32.1 bp −$3,214	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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
Hyperliquid kPEPE	−0.0332%	1h	0.000004763	−0.124%	$69.3M	$99.8M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004765	−0.076%	$17K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USDshort	L +0.0006% / S −0.0006%	1h	0.000004766	−0.059%	$14K	—	150x
Kraken Futures PF_PEPEUSD	+0.0067%	1h	0.000004770	+0.023%	$3.9M	$13.9M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004768	−0.019%	$56K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004766	−0.061%	$87.3M	$295.5M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004766	−0.061%	$151.1M	$65.1M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004768	−0.013%	$24.4M	$54.9M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004769	−0.006%	$42.1M	$151.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004725	−0.923%	$544K	$4.2M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004725	−0.926%	$25K	$351K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004740	−0.606%	$99K	$755K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004778	+0.182%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004772	+0.065%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004767	−0.038%	$539K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0158%	8h	0.000004770	+0.013%	$2.3M	$6.5M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0180%	8h	0.000004769	0.000%	$5K	$16	20x	as long as short
Lighter 1000PEPE	+0.0184%	1h	0.000004771	+0.044%	$576K	$6.6M	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004771	+0.044%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0194%	8h	0.000004770	+0.023%	$42.5M	$500.8M	50x	as long as short
BloFin PEPE-USDT	+0.0315%	8h	0.000004763	−0.124%	$3.9M	$22.5M	75x	as long as short
01 Exchange kPEPEUSD	+0.0320%	1h	0.000004771	+0.044%	$547	$2K	10x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0343%	8h	0.000004771	+0.044%	$29K	$13K	20x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0396% / S −0.0435%	1h	0.000004000	−16.123%	$43K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004771	+0.044%	$559K	$25.7M	50x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004746	−0.480%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0537%	1h	0.000004772	+0.065%	$93K	$603K	15x	as long as short
BingX 1000PEPE-USDC	+0.0548%	8h	0.000004769	0.000%	—	$2.3M	—	as long as short
Aster 1000PEPEUSDT	+0.0553%	8h	0.000004774	+0.101%	$1.5M	$7.3M	50x	as long as short
Binance 1000PEPEUSDTlong	+0.0555%	8h	0.000004769	long leg	$134.1M	$1.07B	75x
MEXC PEPE_USDT	+0.0558%	8h	0.000004771	+0.034%	$90.6M	$283.9M	300x	as long as short
Extended 1000PEPE-USD	+0.0560%	1h	0.000004768	−0.013%	$524K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0560%	1h	0.000004771	+0.044%	$135K	—	3x	as long as short
Nado kPEPE-PERP	+0.0583%	1h	0.000004771	+0.038%	$180K	$849K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0799%	1h	0.000004771	+0.044%	$77K	$98K	25x	as long as short