Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.010%

Price spread now: Gate against Bybit−0.032%7-day average +0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$390.388% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 7 days+0.061%+$6 · spread now −0.032%, 7d avg +0.025%

Together, before fees+0.104%+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.057% cheaper against Bybit than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit 1000PEPEUSDT	0.000004725	0.0100	pay 0.0100% / 8h	8m 54s	$86.9M	$293.8M	50x
Short	Gate PEPE_USDT	0.000004724	0.0100	get 0.0100% / 8h	8m 54s	$149.2M	$65.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.032%Rate

Funding earned: $0
Price spread: −0.032% → +0.025%: −$5.67
Slippage, 4 orders: −$12.83
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$44.51
Costs to cover: 0.388%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Gate: live order book, 5 min ago.

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, 5 min ago	1.06 bp	6.6 bp −$7	12.0 bp −$120	30.3 bp −$3,033	doesn't fit
Sell Gate live order book, 5 min ago	1.06 bp	10.6 bp −$11	18.3 bp −$183	56.9 bp −$5,695	doesn't fit

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	−0.0327%	1h	0.000004717	−0.180%	$69.4M	$96.3M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004717	−0.183%	$17K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004720	−0.125%	$14K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0068%	1h	0.000004722	−0.066%	$3.8M	$13.8M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004718	−0.159%	$55K	$119K	10x	as long as short
Bybit 1000PEPEUSDTlong	+0.0100%	8h	0.000004725	long leg	$86.9M	$293.8M	50x
Gate PEPE_USDTshort	+0.0100%	8h	0.000004724	−0.032%	$149.2M	$65.0M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004728	+0.051%	$24.0M	$54.7M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004727	+0.025%	$41.8M	$150.7M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004715	−0.226%	$567K	$4.2M	—	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	0.000004726	+0.007%	$25K	$349K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004728	+0.053%	$99K	$755K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004733	+0.150%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004723	−0.053%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004724	−0.040%	$534K	$3.5M	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0176%	8h	0.000004717	−0.172%	$5K	$16	20x	as long as short
Lighter 1000PEPE	+0.0176%	1h	0.000004726	+0.011%	$569K	$6.6M	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004723	−0.052%	$7K	—	15x	as long as short
Phemex u1000PEPEUSDT	+0.0196%	8h	0.000004728	+0.047%	$2.3M	$6.5M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0205%	8h	0.000004727	+0.032%	$41.8M	$494.5M	50x	as long as short
01 Exchange kPEPEUSD	+0.0304%	1h	0.000004721	−0.095%	$541	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0324%	8h	0.000004725	−0.011%	$3.9M	$22.2M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0354%	8h	0.000004725	−0.013%	$29K	$13K	20x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0388% / S −0.0314%	1h	0.000004000	−15.353%	$49K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004723	−0.053%	$563K	$25.4M	50x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004726	+0.011%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0530%	1h	0.000004726	+0.019%	$92K	$603K	15x	as long as short
BingX 1000PEPE-USDT	+0.0553%	8h	0.000004725	0.000%	—	$257.3M	—	as long as short
Aster 1000PEPEUSDT	+0.0564%	8h	0.000004728	+0.044%	$1.5M	$7.3M	50x	as long as short
Extended 1000PEPE-USD	+0.0568%	1h	0.000004725	−0.006%	$518K	$148K	25x	as long as short
Binance 1000PEPEUSDT	+0.0570%	8h	0.000004724	−0.034%	$132.1M	$1.07B	75x	as long as short
MEXC PEPE_USDT	+0.0574%	8h	0.000004729	+0.068%	$88.2M	$282.9M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0576%	1h	0.000004724	−0.032%	$134K	—	3x	as long as short
Nado kPEPE-PERP	+0.0622%	1h	0.000004722	−0.073%	$178K	$849K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0810%	1h	0.000004724	−0.032%	$76K	$98K	25x	as long as short