Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0522%/8h= +57.2% APRpaid last 24h +0.115%

Price spread now: GMX against Binance−2.594%50s7-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 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—needs both histories

Funding pays, the price is against you. GMX is 2.594% cheaper against Binance than usual: you would sell low and buy high (spread −2.594% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$259 on $10k: about 17 days of funding at the current rate (+$16 a day). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance 1000PEPEUSDT	0.000005133	0.0695	pay 0.0695% / 8h	0m 34s	$141.7M	$1.50B	75x
Short	GMX PEPE/USD [ETH-USDC]	0.000005000	L +0.1020% / S −0.1217%	get 0.0152% / 1h	0m 34s	$50K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −2.594%Rate

Funding earned: $109.66
Price spread: −2.594% → 0.000%: −$259.45
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$171.79
Costs to cover: 0.220%
Break-even: 18.0 days

Slippage unknown: Binance: live order book, 13 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 Binance live order book, 13 min ago	0.49 bp	8.7 bp −$9	16.2 bp −$162	43.6 bp −$4,357	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	0.000005133	−0.008%	$19K	$649	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005138	+0.094%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005138	+0.094%	$60K	$184K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005133	−0.004%	$99.5M	$432.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005133	−0.004%	$162.8M	$100.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005140	+0.129%	$625K	$5.4M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005134	+0.008%	$28K	$549K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005145	+0.222%	$1K	$2.7M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000005141	+0.152%	$2K	$11K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005146	+0.242%	$602K	$4.2M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin PEPEUSDTM	+0.0143%	8h	0.000005139	+0.115%	$27.0M	$74.5M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005134	+0.019%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0238%	8h	0.000005134	+0.008%	$46.1M	$221.2M	75x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0257%	1h	0.000005122	−0.218%	$149K	$836K	25x	as long as short
OKX PEPE-USDT-SWAP	+0.0352%	8h	0.000005133	−0.004%	$47.2M	$747.9M	50x	as long as short
Injective PEPE/USDC PERP	+0.0404%	1h	0.000005134	+0.016%	$8K	$121K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0419%	8h	0.000005142	+0.172%	$34K	$26K	20x	as long as short
Paradex kPEPE-USD-PERP	+0.0444%	8h	0.000005137	+0.066%	$6K	—	20x	as long as short
Phemex u1000PEPEUSDT	+0.0448%	8h	0.000005141	+0.160%	$2.4M	$8.1M	50x	as long as short
BloFin PEPE-USDT	+0.0472%	8h	0.000005137	+0.074%	$4.5M	$30.4M	75x	as long as short
Backpack kPEPE_USDC_PERP	+0.0474%	1h	0.000005140	+0.127%	$78K	$892K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0529%	1h	0.000005141	+0.152%	$73K	$127K	25x	as long as short
Lighter 1000PEPE	+0.0536%	1h	0.000005141	+0.152%	$617K	$9.1M	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0544%	1h	0.000005152	+0.367%	$686K	$39.9M	50x	as long as short
BingX 1000PEPE-USDC	+0.0676%	8h	0.000005136	+0.061%	—	$2.3M	—	as long as short
01 Exchange kPEPEUSD	+0.0680%	1h	0.000005138	+0.094%	$620	$2K	10x	as long as short
Binance 1000PEPEUSDTlong	+0.0695%	8h	0.000005133	long leg	$141.7M	$1.50B	75x
Extended 1000PEPE-USD	+0.0696%	1h	0.000005134	+0.021%	$539K	$276K	25x	as long as short
MEXC PEPE_USDT	+0.0696%	8h	0.000005139	+0.106%	$100.8M	$310.4M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0696%	1h	0.000005145	+0.230%	$145K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0706%	8h	0.000005140	+0.133%	$1.7M	$11.9M	50x	as long as short
Kraken Futures PF_PEPEUSD	+0.0714%	1h	0.000005138	+0.086%	$4.8M	$16.7M	50x	as long as short
Nado kPEPE-PERP	+0.0724%	1h	0.000005135	+0.045%	$164K	$960K	10x	as long as short
Hyperliquid kPEPE	+0.0877%	1h	0.000005141	+0.152%	$53.3M	$159.6M	10x	as long as short
GMX PEPE/USD [ETH-USDC]short	L +0.1020% / S −0.1217%	1h	0.000005000	−2.594%	$50K	—	100x