Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0867%/8h= +95.0% APRpaid last 24h +0.051%

Price spread now: GMX against Bitget−0.764%7-day average — · you buy dearer than you sell

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

Long on Bitget 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 0.764% cheaper against Bitget than usual: you would sell low and buy high (spread −0.764% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$76 on $10k: about 2.9 days of funding at the current rate (+$26 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PEPEUSDT	0.000005039	0.0125	pay 0.0125% / 8h	5h 16m	$46.3M	$172.9M	75x
Short	GMX PEPE/USD [ETH-USDC]	0.000005000	L +0.0622% / S −0.0992%	get 0.0124% / 1h	16m 22s	$49K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now −0.764%Rate

Funding earned: $182.13
Price spread: −0.764% → 0.000%: −$76.41
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $81.71
Costs to cover: 0.240%
Break-even: 3.9 days

Slippage unknown: Bitget: live order book, 3 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 Bitget live order book, 3 min ago	1.20 bp	9.4 bp −$9	12.3 bp −$123	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	0.000005028	−0.199%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005039	+0.016%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005032	−0.129%	$64K	$139K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005041	+0.052%	$97.9M	$339.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005046	+0.149%	$164.6M	$75.4M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005037	−0.020%	$25.9M	$63.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005020	−0.376%	$680K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005023	−0.317%	$27K	$445K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005021	−0.339%	$1K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005018	−0.399%	$571K	$3.6M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PEPEUSDTlong	+0.0125%	8h	0.000005039	long leg	$46.3M	$172.9M	75x
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005039	+0.011%	$8K	—	15x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0317%	8h	0.000005041	+0.042%	$33K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0339%	8h	0.000005043	+0.089%	$45.8M	$589.5M	50x	as long as short
BloFin PEPE-USDT	+0.0460%	8h	0.000005032	−0.129%	$4.3M	$25.1M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0556%	1h	0.000005027	−0.228%	$2K	$12K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0563%	1h	0.000005028	−0.208%	$99K	$755K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0576%	1h	0.000005033	−0.109%	$935K	$31.4M	50x	as long as short
BingX 1000PEPE-USDC	+0.0605%	8h	0.000005043	+0.097%	—	$2.3M	—	as long as short
GMX PEPE/USD [ETH-USDC]short	L +0.0622% / S −0.0992%	1h	0.000005000	−0.764%	$49K	—	100x
MEXC PEPE_USDT	+0.0637%	8h	0.000005045	+0.127%	$95.9M	$290.1M	300x	as long as short
Binance 1000PEPEUSDT	+0.0637%	8h	0.000005046	+0.157%	$141.1M	$1.21B	75x	as long as short
Extended 1000PEPE-USD	+0.0640%	1h	0.000005036	−0.058%	$533K	$226K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0640%	1h	0.000005043	+0.089%	$143K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0732%	8h	0.000005037	−0.022%	$1.8M	$9.1M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0746%	1h	0.000005026	−0.248%	$71K	$124K	25x	as long as short
Phemex u1000PEPEUSDT	+0.0752%	8h	0.000005022	−0.337%	$2.4M	$7.1M	50x	as long as short
Nado kPEPE-PERP	+0.0792%	1h	0.000005036	−0.044%	$184K	$871K	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0808%	8h	0.000005030	−0.160%	$6K	—	20x	as long as short
01 Exchange kPEPEUSD	+0.0968%	1h	0.000005045	+0.129%	$609	$3K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0969%	1h	0.000005030	−0.171%	$97K	$627K	15x	as long as short
Injective PEPE/USDC PERP	+0.0973%	1h	0.000005105	+1.320%	$4K	$102K	12x	as long as short
Lighter 1000PEPE	+0.1216%	1h	0.000005035	−0.069%	$672K	$8.1M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1384%	1h	0.000005027	−0.236%	$4.3M	$15.2M	50x	as long as short
Hyperliquid kPEPE	+0.1613%	1h	0.000005045	+0.129%	$53.9M	$139.5M	10x	as long as short