Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0831%/8h= +91.0% APRpaid last 24h +0.013%

Price spread now: Binance against gTrade (Gains Network)+0.023%7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on Binance

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

Both sides work for this trade now. Funding pays +$25 a day on $10k at the current rate, and Binance is 0.023% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$2 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	gTrade (Gains Network) PEPE/USD	0.000004844	L +0.0006% / S −0.0006%	pay 0.0001% / 1h	26m 01s	$14K	—	150x
Short	Binance 1000PEPEUSDT	0.000004845	0.0837	get 0.0837% / 8h	2h 26m	$128.9M	$1.02B	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BinancebpOrdersPrice spread, now +0.023%Rate

Funding earned: $174.55
Price spread: +0.023% → 0.000%: $2.31
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $156.86
Costs to cover: 0.200%
Break-even: 0.7 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Binance: live order book, 3 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Binance live order book, 3 min ago	0.10 bp	6.7 bp −$7	13.7 bp −$137	38.9 bp −$3,892	doesn't fit

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	0.000004833	−0.231%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USDlong	L +0.0006% / S −0.0006%	1h	0.000004844	long leg	$14K	—	150x
Hyperliquid kPEPE	+0.0100%	1h	0.000004848	+0.083%	$57.7M	$70.9M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004841	−0.062%	$60K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004847	+0.062%	$87.9M	$273.9M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004845	+0.021%	$150.9M	$61.9M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004846	+0.047%	$25.1M	$53.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004799	−0.923%	$702K	$3.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004804	−0.836%	$27K	$338K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004861	+0.345%	$2K	$2.4M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000004856	+0.252%	$559K	$3.5M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0147%	8h	0.000004848	+0.083%	$41.6M	$490.3M	50x	as long as short
Bitget PEPEUSDT	+0.0178%	8h	0.000004847	+0.068%	$43.3M	$151.9M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004848	+0.090%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0260%	8h	0.000004813	−0.640%	$3.9M	$21.7M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0319% / S −0.0217%	1h	0.000004000	−17.424%	$52K	—	100x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0390%	8h	0.000004856	+0.239%	$30K	$11K	20x	as long as short
Lighter 1000PEPE	+0.0424%	1h	0.000004853	+0.186%	$620K	$5.2M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0449%	8h	0.000004840	−0.089%	$5K	$16	20x	as long as short
Phemex u1000PEPEUSDT	+0.0457%	8h	0.000004853	+0.188%	$2.3M	$6.3M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004853	+0.186%	$582K	$25.4M	50x	as long as short
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004809	−0.723%	$4K	$110K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0611%	1h	0.000004852	+0.175%	$95K	$623K	15x	as long as short
Nado kPEPE-PERP	+0.0693%	1h	0.000004848	+0.084%	$192K	$856K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0726%	1h	0.000004803	−0.846%	$99K	$759K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0755%	1h	0.000004851	+0.138%	$3.9M	$13.1M	50x	as long as short
BingX 1000PEPE-USDT	+0.0784%	8h	0.000004851	+0.140%	—	$255.0M	—	as long as short
SoDEX 1000PEPE-USD	+0.0812%	1h	0.000004851	+0.145%	$2K	$9K	10x	as long as short
MEXC PEPE_USDT	+0.0831%	8h	0.000004850	+0.126%	$91.3M	$290.4M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0832%	1h	0.000004840	−0.083%	$137K	—	3x	as long as short
Binance 1000PEPEUSDTshort	+0.0837%	8h	0.000004845	+0.023%	$128.9M	$1.02B	75x
Extended 1000PEPE-USD	+0.0840%	1h	0.000004849	+0.102%	$532K	$147K	25x	as long as short
Aster 1000PEPEUSDT	+0.0875%	8h	0.000004849	+0.099%	$1.5M	$6.8M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0988%	1h	0.000004854	+0.206%	$82K	$94K	25x	as long as short
01 Exchange kPEPEUSD	+0.1256%	1h	0.000004859	+0.310%	$557	$2K	10x	as long as short