Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0990%/8h= +108.4% APRpaid last 24h +0.017%

Price spread now: GMX against BingX−4.787%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 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 4.787% cheaper against BingX than usual: you would sell low and buy high (spread −4.787% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$479 on $10k: about 16 days of funding at the current rate (+$30 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX 1000PEPE-USDC	0.000005251	0.0725	pay 0.0725% / 8h	4h 02m	—	$2.3M	—
Short	GMX PEPE/USD [ETH-USDC]	0.000005000	L +0.0844% / S −0.1715%	get 0.0214% / 1h	2m 03s	$64K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −4.787%Rate

Funding earned: $207.82
Price spread: −4.787% → 0.000%: −$478.73
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$292.91
Costs to cover: 0.220%
Break-even: 16.9 days

Slippage unknown: BingX: live order book, 7 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 BingX live order book, 7 min ago	0.96 bp	9.7 bp −$10	16.0 bp −$160	83.9 bp −$8,394	239.7 bp −$119.8K
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	0.000005255	+0.070%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005255	+0.074%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005257	+0.107%	$68K	$147K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005247	−0.086%	$102.8M	$364.1M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005255	+0.069%	$171.9M	$83.9M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005260	+0.169%	$27.0M	$66.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005177	−1.424%	$822K	$4.9M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005181	−1.335%	$37K	$491K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005267	+0.307%	$2K	$2.5M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005238	−0.261%	$607K	$3.8M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005257	+0.113%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0232%	8h	0.000005255	+0.059%	$48.4M	$183.2M	75x	as long as short
Injective PEPE/USDC PERP	+0.0254%	1h	0.000005255	+0.069%	$3K	$110K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0366%	8h	0.000005263	+0.223%	$35K	$25K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0400%	8h	0.000005251	−0.008%	$50.6M	$653.5M	50x	as long as short
BloFin PEPE-USDT	+0.0525%	8h	0.000005259	+0.145%	$4.6M	$27.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0608%	8h	0.000005269	+0.331%	$2.6M	$7.3M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0672%	1h	0.000005258	+0.126%	$770K	$35.5M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0701%	1h	0.000005260	+0.164%	$75K	$126K	25x	as long as short
BingX 1000PEPE-USDClong	+0.0725%	8h	0.000005251	long leg	—	$2.3M	—
SoDEX 1000PEPE-USD	+0.0765%	1h	0.000005263	+0.221%	$2K	$10K	10x	as long as short
MEXC PEPE_USDT	+0.0767%	8h	0.000005250	−0.034%	$101.2M	$294.2M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0768%	1h	0.000005257	+0.107%	$149K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0776%	8h	0.000005253	+0.022%	$151.0M	$1.28B	75x	as long as short
Extended 1000PEPE-USD	+0.0776%	1h	0.000005249	−0.040%	$557K	$226K	25x	as long as short
Paradex kPEPE-USD-PERP	+0.0796%	8h	0.000005271	+0.372%	$6K	—	20x	as long as short
Lighter 1000PEPE	+0.0808%	1h	0.000005266	+0.278%	$645K	$8.4M	10x	as long as short
GMX PEPE/USD [ETH-USDC]short	L +0.0844% / S −0.1715%	1h	0.000005000	−4.787%	$64K	—	100x
ApeX Omni 1000PEPEUSDT	+0.0872%	1h	0.000005178	−1.398%	$104K	$746K	25x	as long as short
Aster 1000PEPEUSDT	+0.0898%	8h	0.000005259	+0.151%	$1.9M	$9.8M	50x	as long as short
Nado kPEPE-PERP	+0.0932%	1h	0.000005261	+0.186%	$184K	$909K	10x	as long as short
01 Exchange kPEPEUSD	+0.1120%	1h	0.000005272	+0.392%	$636	$3K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.1120%	1h	0.000005263	+0.215%	$84K	$715K	15x	as long as short
Kraken Futures PF_PEPEUSD	+0.1238%	1h	0.000005261	+0.188%	$4.8M	$16.2M	50x	as long as short
Hyperliquid kPEPE	+0.1560%	1h	0.000005257	+0.107%	$57.0M	$143.2M	10x	as long as short