Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0055%/8h= +6.0% APRpaid last 24h +0.028%

Price spread now: GMX against BloFin−16.995%51s7-day average — · you buy dearer than you sell

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

Long on BloFin 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 16.995% cheaper against BloFin than usual: you would sell low and buy high (spread −16.995% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$1,700 on $10k: about years of funding at the current rate (+$2 a day). The two prices were read 51 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	BloFin PEPE-USDT	0.000004819	0.0339	pay 0.0339% / 8h	49m 39s	$3.9M	$22.4M	75x
Short	GMX PEPE/USD [ETH-USDC]	0.000004000	L +0.0355% / S −0.0394%	get 0.0049% / 1h	49m 39s	$43K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BloFin. 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 BloFinbpFee GMXbpOrdersPrice spread, now −16.995%Rate

Funding earned: $11.51
Price spread: −16.995% → 0.000%: −$1,699.52
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$1,712.02
Costs to cover: 0.240%
Break-even: 1048.6 days

Slippage unknown: BloFin: live order book, 4 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 BloFin live order book, 4 min ago	2.09 bp	8.1 bp −$8	8.3 bp −$83	24.2 bp −$2,416	60.1 bp −$30.0K
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
Hyperliquid kPEPE	−0.0223%	1h	0.000004809	−0.208%	$67.2M	$87.5M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004812	−0.149%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004811	−0.164%	$14K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0066%	1h	0.000004813	−0.131%	$3.9M	$13.5M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004814	−0.104%	$59K	$115K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004813	−0.125%	$86.6M	$287.4M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004811	−0.166%	$150.9M	$63.9M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004814	−0.110%	$24.7M	$54.2M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004814	−0.108%	$42.5M	$149.5M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004816	−0.064%	$585K	$4.1M	—	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	0.000004818	−0.031%	$26K	$348K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004824	+0.095%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004812	−0.145%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004815	−0.091%	$545K	$3.5M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004820	+0.012%	$7K	—	15x	as long as short
Lighter 1000PEPE	+0.0200%	1h	0.000004818	−0.021%	$636K	$6.3M	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0214%	1h	0.000004796	−0.477%	$100K	$760K	25x	as long as short
Paradex kPEPE-USD-PERP	+0.0216%	8h	0.000004817	−0.051%	$5K	$16	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0218%	8h	0.000004815	−0.083%	$41.8M	$498.0M	50x	as long as short
01 Exchange kPEPEUSD	+0.0232%	1h	0.000004809	−0.208%	$551	$2K	10x	as long as short
Phemex u1000PEPEUSDT	+0.0235%	8h	0.000004818	−0.031%	$2.3M	$6.4M	50x	as long as short
BloFin PEPE-USDTlong	+0.0339%	8h	0.000004819	long leg	$3.9M	$22.4M	75x
GMX PEPE/USD [ETH-USDC]short	L +0.0355% / S −0.0394%	1h	0.000004000	−16.995%	$43K	—	100x
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004818	−0.021%	$578K	$25.7M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0431%	8h	0.000004815	−0.085%	$30K	$12K	20x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004814	−0.104%	$4K	$102K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0582%	1h	0.000004814	−0.104%	$81K	$94K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0592%	1h	0.000004816	−0.060%	$91K	$601K	15x	as long as short
BingX 1000PEPE-USDC	+0.0682%	8h	0.000004814	−0.095%	—	$2.3M	—	as long as short
Binance 1000PEPEUSDT	+0.0691%	8h	0.000004810	−0.191%	$132.0M	$1.05B	75x	as long as short
Extended 1000PEPE-USD	+0.0696%	1h	0.000004814	−0.109%	$529K	$148K	25x	as long as short
MEXC PEPE_USDT	+0.0696%	8h	0.000004813	−0.114%	$95.7M	$279.2M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0696%	1h	0.000004820	+0.021%	$136K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0699%	8h	0.000004820	+0.017%	$1.5M	$7.3M	50x	as long as short
Nado kPEPE-PERP	+0.0832%	1h	0.000004822	+0.062%	$185K	$845K	10x	as long as short