Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0095%/8h= −10.4% APRpaid last 24h −0.025%

Price spread now: gTrade (Gains Network) against Bybit+0.146%7-day average — · you sell dearer than you buy

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

Long on Bybit 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

The price spread pays, funding is against you. gTrade (Gains Network) is 0.146% dearer against Bybit than usual: you sell high and buy low (spread +0.146% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit 1000PEPEUSDT	0.000005072	0.0100	pay 0.0100% / 8h	2h 15m	$99.7M	$407.6M	50x
Short	gTrade (Gains Network) PEPE/USD	0.000005080	L +0.0005% / S −0.0005%	get 0.0001% / 1h	15m 55s	$3K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Bybit. 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 BybitbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.146%Rate

Funding earned: −$20.01
Price spread: +0.146% → 0.000%: $14.59
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$26.42
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: 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 Bybit live order book, 3 min ago	0.98 bp	12.5 bp −$13	19.4 bp −$194	33.5 bp −$3,355	doesn't fit
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	0.000005072	+0.002%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USDshort	L +0.0005% / S −0.0005%	1h	0.000005080	+0.146%	$3K	—	150x
Pacifica kPEPE	+0.0100%	1h	0.000005078	+0.110%	$58K	$178K	10x	as long as short
Bybit 1000PEPEUSDTlong	+0.0100%	8h	0.000005072	long leg	$99.7M	$407.6M	50x
Gate PEPE_USDT	+0.0100%	8h	0.000005081	+0.170%	$162.7M	$94.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005073	+0.002%	$25.1M	$71.2M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005062	−0.213%	$602K	$5.4M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005066	−0.132%	$28K	$539K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005088	+0.311%	$1K	$2.6M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005083	+0.217%	$573K	$4.1M	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	0.000005082	+0.195%	$8K	—	15x	as long as short
SoDEX 1000PEPE-USD	+0.0220%	1h	0.000005083	+0.209%	$2K	$10K	10x	as long as short
Bitget PEPEUSDT	+0.0333%	8h	0.000005074	+0.035%	$45.2M	$211.4M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0393%	8h	0.000005084	+0.225%	$33K	$26K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0423%	8h	0.000005073	+0.012%	$46.8M	$698.5M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0538%	1h	0.000005082	+0.189%	$72K	$127K	25x	as long as short
BloFin PEPE-USDT	+0.0550%	8h	0.000005083	+0.209%	$4.4M	$28.6M	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0567%	8h	0.000005078	+0.118%	$6K	—	20x	as long as short
Phemex u1000PEPEUSDT	+0.0623%	8h	0.000005083	+0.207%	$2.4M	$7.9M	50x	as long as short
Lighter 1000PEPE	+0.0640%	1h	0.000005088	+0.308%	$602K	$9.1M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0665%	1h	0.000005082	+0.185%	$70K	$840K	15x	as long as short
Nado kPEPE-PERP	+0.0673%	1h	0.000005087	+0.290%	$166K	$945K	10x	as long as short
01 Exchange kPEPEUSD	+0.0680%	1h	0.000005086	+0.268%	$613	$3K	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0680%	1h	0.000005073	+0.012%	$655K	$37.3M	50x	as long as short
BingX 1000PEPE-USDT	+0.0761%	8h	0.000005074	+0.034%	—	$239.5M	—	as long as short
Binance 1000PEPEUSDT	+0.0799%	8h	0.000005077	+0.096%	$142.0M	$1.42B	75x	as long as short
Extended 1000PEPE-USD	+0.0800%	1h	0.000005074	+0.034%	$539K	$277K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0800%	1h	0.000005086	+0.268%	$144K	—	3x	as long as short
MEXC PEPE_USDT	+0.0802%	8h	0.000005076	+0.063%	$97.6M	$303.3M	300x	as long as short
Kraken Futures PF_PEPEUSD	+0.0840%	1h	0.000005081	+0.173%	$4.6M	$16.7M	50x	as long as short
Aster 1000PEPEUSDT	+0.0841%	8h	0.000005074	+0.024%	$1.8M	$11.3M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0878%	1h	0.000005093	+0.406%	$156K	$814K	25x	as long as short
Hyperliquid kPEPE	+0.1003%	1h	0.000005087	+0.288%	$53.9M	$153.0M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1130% / S −0.2171%	1h	0.000005000	−1.427%	$64K	—	100x	as long as short
Injective PEPE/USDC PERP	+0.1379%	1h	0.000005027	−0.895%	$3K	$111K	12x	as long as short