Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0802%/8h= −87.9% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against BingX−0.087%7-day average — · you buy dearer than you sell

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

Long on BingX 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 −$24 a day on $10k at the current rate, and gTrade (Gains Network) is 0.087% cheaper against BingX than usual: you would sell low and buy high (−$9 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	BingX 1000PEPE-USDT	0.000004851	0.0808	pay 0.0808% / 8h	1h 36m	—	$256.0M	—
Short	gTrade (Gains Network) PEPE/USD	0.000004847	L +0.0006% / S −0.0006%	get 0.0001% / 1h	36m 17s	$14K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against BingX. 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 BingXbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.087%Rate

Funding earned: −$168.51
Price spread: −0.087% → 0.000%: −$8.66
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$197.16
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 3 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 BingX live order book, 3 min ago	0.10 bp	5.1 bp −$5	8.0 bp −$80	17.2 bp −$1,716	40.6 bp −$20.3K
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
dYdX PEPE-USD	0.0000%	1h	0.000004852	+0.024%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USDshort	L +0.0006% / S −0.0006%	1h	0.000004847	−0.087%	$14K	—	150x
Lighter 1000PEPE	+0.0096%	1h	0.000004849	−0.041%	$608K	$5.4M	10x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004847	−0.082%	$62.0M	$78.1M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004855	+0.082%	$60K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004841	−0.206%	$87.6M	$279.9M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004847	−0.082%	$151.8M	$62.5M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004849	−0.049%	$25.0M	$53.8M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004864	+0.267%	$583K	$4.0M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004870	+0.395%	$28K	$343K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004862	+0.225%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004848	−0.062%	$2K	$9K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004850	−0.019%	$549K	$3.5M	75x	as long as short
Bitget PEPEUSDT	+0.0156%	8h	0.000004849	−0.039%	$42.7M	$151.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004850	−0.015%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0204%	8h	0.000004844	−0.144%	$41.8M	$493.6M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0213% / S −0.0093%	1h	0.000004000	−17.543%	$54K	—	100x	as long as short
BloFin PEPE-USDT	+0.0323%	8h	0.000004858	+0.144%	$3.9M	$22.3M	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0385%	8h	0.000004854	+0.056%	$5K	$16	20x	as long as short
Phemex u1000PEPEUSDT	+0.0407%	8h	0.000004842	−0.179%	$2.3M	$6.4M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0443%	8h	0.000004851	−0.002%	$30K	$11K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0448%	1h	0.000004853	+0.041%	$616K	$25.7M	50x	as long as short
01 Exchange kPEPEUSD	+0.0480%	1h	0.000004856	+0.103%	$556	$2K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0575%	1h	0.000004850	−0.021%	$82K	$94K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0619%	1h	0.000004855	+0.093%	$91K	$614K	15x	as long as short
Nado kPEPE-PERP	+0.0728%	1h	0.000004852	+0.021%	$186K	$854K	10x	as long as short
BingX 1000PEPE-USDTlong	+0.0808%	8h	0.000004851	long leg	—	$256.0M	—
Aevo 1000PEPE-PERP	+0.0832%	1h	0.000004855	+0.082%	$137K	—	3x	as long as short
MEXC PEPE_USDT	+0.0836%	8h	0.000004850	−0.014%	$92.1M	$283.5M	300x	as long as short
Binance 1000PEPEUSDT	+0.0837%	8h	0.000004843	−0.167%	$130.5M	$1.03B	75x	as long as short
Extended 1000PEPE-USD	+0.0840%	1h	0.000004849	−0.038%	$535K	$148K	25x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0841%	1h	0.000004868	+0.350%	$104K	$764K	25x	as long as short
Aster 1000PEPEUSDT	+0.0865%	8h	0.000004850	−0.021%	$1.5M	$7.0M	50x	as long as short
Injective PEPE/USDC PERP	+0.0873%	1h	0.000004874	+0.474%	$4K	$103K	12x	as long as short
Kraken Futures PF_PEPEUSD	+0.1316%	1h	0.000004845	−0.116%	$4.0M	$13.3M	50x	as long as short