Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0746%/8h= +81.7% APRpaid last 24h +0.072%

Price spread now: BingX against gTrade (Gains Network)−0.059%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on BingX

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. BingX is 0.059% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.059% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 6 hours of funding at the current rate (+$22 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PEPE/USD	0.000005074	L +0.0005% / S −0.0005%	pay 0.0001% / 1h	17m 10s	$3K	—	150x
Short	BingX 1000PEPE-USDC	0.000005071	0.0751	get 0.0751% / 8h	2h 17m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.059%Rate

Funding earned: $156.61
Price spread: −0.059% → 0.000%: −$5.91
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: $130.7
Costs to cover: 0.200%
Break-even: 1.2 days

Slippage unknown: gTrade (Gains Network): no order-book sample; BingX: live order book, 1 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 BingX live order book, 1 min ago	1.18 bp	13.6 bp −$14	22.5 bp −$225	95.0 bp −$9,504	223.8 bp −$111.9K

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	0.000005079	+0.100%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USDlong	L +0.0005% / S −0.0005%	1h	0.000005074	long leg	$3K	—	150x
Pacifica kPEPE	+0.0100%	1h	0.000005081	+0.140%	$58K	$178K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005069	−0.099%	$99.5M	$407.5M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005068	−0.116%	$162.3M	$94.7M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005077	+0.059%	$25.2M	$71.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005062	−0.242%	$602K	$5.4M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005066	−0.162%	$28K	$539K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005086	+0.244%	$1K	$2.6M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005079	+0.097%	$569K	$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	0.000005081	+0.139%	$8K	—	15x	as long as short
SoDEX 1000PEPE-USD	+0.0229%	1h	0.000005079	+0.101%	$2K	$10K	10x	as long as short
Bitget PEPEUSDT	+0.0334%	8h	0.000005072	−0.030%	$45.3M	$211.3M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0393%	8h	0.000005079	+0.108%	$33K	$26K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0423%	8h	0.000005072	−0.037%	$46.8M	$698.1M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0538%	1h	0.000005078	+0.081%	$72K	$127K	25x	as long as short
BloFin PEPE-USDT	+0.0550%	8h	0.000005083	+0.179%	$4.4M	$28.6M	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0569%	8h	0.000005080	+0.112%	$6K	—	20x	as long as short
Phemex u1000PEPEUSDT	+0.0630%	8h	0.000005076	+0.049%	$2.4M	$7.9M	50x	as long as short
Lighter 1000PEPE	+0.0648%	1h	0.000005077	+0.061%	$601K	$9.1M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0667%	1h	0.000005073	−0.020%	$74K	$835K	15x	as long as short
Nado kPEPE-PERP	+0.0673%	1h	0.000005087	+0.262%	$168K	$944K	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0680%	1h	0.000005086	+0.238%	$652K	$37.4M	50x	as long as short
01 Exchange kPEPEUSD	+0.0688%	1h	0.000005083	+0.179%	$613	$3K	10x	as long as short
BingX 1000PEPE-USDCshort	+0.0751%	8h	0.000005071	−0.059%	—	$2.3M	—
Extended 1000PEPE-USD	+0.0800%	1h	0.000005078	+0.072%	$539K	$277K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0800%	1h	0.000005083	+0.179%	$144K	—	3x	as long as short
MEXC PEPE_USDT	+0.0802%	8h	0.000005073	−0.018%	$97.6M	$303.2M	300x	as long as short
Binance 1000PEPEUSDT	+0.0802%	8h	0.000005077	+0.061%	$142.0M	$1.42B	75x	as long as short
Kraken Futures PF_PEPEUSD	+0.0841%	1h	0.000005077	+0.058%	$4.6M	$16.7M	50x	as long as short
Aster 1000PEPEUSDT	+0.0845%	8h	0.000005082	+0.162%	$1.8M	$11.3M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0878%	1h	0.000005093	+0.376%	$156K	$814K	25x	as long as short
Hyperliquid kPEPE	+0.0996%	1h	0.000005076	+0.041%	$53.7M	$152.9M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1130% / S −0.2171%	1h	0.000005000	−1.456%	$64K	—	100x	as long as short
Injective PEPE/USDC PERP	+0.1379%	1h	0.000005027	−0.924%	$3K	$111K	12x	as long as short