Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.026%

Price spread now: Gate against dYdX+0.126%7-day average — · you sell dearer than you buy

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

Long on dYdX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 5 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

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Gate is 0.126% dearer against dYdX than usual: you sell high and buy low: +$13 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX PEPE-USD	0.000005013	0	get 0.0000% / 1h	17m 07s	$18K	$95	10x
Short	Gate PEPE_USDT	0.000005019	0.0100	get 0.0100% / 8h	7h 17m	$161.0M	$68.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against dYdX. 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 dYdXbpFee GatebpOrdersPrice spread, now +0.126%Rate

Funding earned: $21
Price spread: +0.126% → 0.000%: $12.57
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $8.57
Costs to cover: 0.250%
Break-even: 4.1 days

Slippage unknown: dYdX: no order-book sample; Gate: live order book, 2 min ago. 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 dYdX no order-book sample	—	—	—	—	—
Sell Gate live order book, 2 min ago	2.00 bp	9.5 bp −$10	18.9 bp −$189	74.8 bp −$7,477	doesn't fit

dYdX: 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
Kraken Futures PF_PEPEUSD	−0.0117%	1h	0.000005021	+0.156%	$3.9M	$14.2M	50x	as long as short
dYdX PEPE-USDlong	0.0000%	1h	0.000005013	long leg	$18K	$95	10x
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005016	+0.074%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005019	+0.126%	$59K	$120K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005035	+0.447%	$94.5M	$307.6M	50x	as long as short
Gate PEPE_USDTshort	+0.0100%	8h	0.000005019	+0.126%	$161.0M	$68.0M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005027	+0.291%	$25.9M	$57.0M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005035	+0.443%	$44.0M	$153.8M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005008	−0.100%	$576K	$4.4M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005015	+0.047%	$52K	$379K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005028	+0.301%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000005022	+0.186%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005024	+0.219%	$567K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000005013	+0.002%	$2.4M	$6.7M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005020	+0.148%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0192%	8h	0.000005040	+0.545%	$44.9M	$541.2M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0237%	8h	0.000005019	+0.119%	$6K	$16	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0242%	1h	0.000005019	+0.126%	$104K	$749K	25x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0275%	8h	0.000005020	+0.154%	$31K	$14K	20x	as long as short
BloFin PEPE-USDT	+0.0310%	8h	0.000005024	+0.225%	$4.0M	$24.1M	75x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000005029	+0.325%	$684K	$27.6M	50x	as long as short
BingX 1000PEPE-USDC	+0.0465%	8h	0.000005032	+0.375%	—	$2.3M	—	as long as short
Binance 1000PEPEUSDT	+0.0479%	8h	0.000005037	+0.488%	$139.1M	$1.11B	75x	as long as short
Extended 1000PEPE-USD	+0.0480%	1h	0.000005021	+0.168%	$552K	$148K	25x	as long as short
MEXC PEPE_USDT	+0.0480%	8h	0.000005031	+0.373%	$100.9M	$288.9M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0480%	1h	0.000005011	−0.034%	$142K	—	3x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0485% / S −0.0460%	1h	0.000005000	−0.253%	$58K	—	100x	as long as short
Lighter 1000PEPE	+0.0504%	1h	0.000005028	+0.305%	$655K	$6.8M	10x	as long as short
Aster 1000PEPEUSDT	+0.0517%	8h	0.000005021	+0.166%	$1.4M	$7.5M	50x	as long as short
Nado kPEPE-PERP	+0.0529%	1h	0.000005022	+0.183%	$190K	$862K	10x	as long as short
01 Exchange kPEPEUSD	+0.0544%	1h	0.000005030	+0.345%	$1K	$2K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0576%	1h	0.000005032	+0.389%	$95K	$601K	15x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000005032	+0.385%	$4K	$102K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0747%	1h	0.000005022	+0.186%	$61K	$114K	25x	as long as short
Hyperliquid kPEPE	+0.1611%	1h	0.000005058	+0.904%	$57.6M	$129.0M	10x	as long as short