Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0270%/8h= +29.6% APRpaid last 24h +0.028%

Price spread now: Bitget against gTrade (Gains Network)−0.034%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 Bitget

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. Bitget is 0.034% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.034% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 10 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PEPE/USD	0.000005241	L +0.0006% / S −0.0008%	pay 0.0001% / 1h	42m 56s	$4K	—	150x
Short	Bitget PEPEUSDT	0.000005239	0.0276	get 0.0276% / 8h	42m 56s	$46.9M	$218.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.034%Rate

Funding earned: $56.77
Price spread: −0.034% → 0.000%: −$3.43
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: $31.33
Costs to cover: 0.220%
Break-even: 3.1 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Bitget: 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 Bitget live order book, 1 min ago	1.82 bp	9.1 bp −$9	11.4 bp −$114	doesn't fit	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	0.000005244	+0.060%	$20K	$649	10x	as long as short
gTrade (Gains Network) PEPE/USDlong	L +0.0006% / S −0.0008%	1h	0.000005241	long leg	$4K	—	150x
Pacifica kPEPE	+0.0100%	1h	0.000005223	−0.340%	$61K	$182K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005238	−0.044%	$101.9M	$425.7M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005231	−0.187%	$164.9M	$98.4M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005200	−0.769%	$651K	$5.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005205	−0.682%	$29K	$546K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005259	+0.342%	$2K	$2.7M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005255	+0.273%	$611K	$4.2M	75x	as long as short
KuCoin PEPEUSDTM	+0.0122%	8h	0.000005228	−0.239%	$27.0M	$73.2M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni 1000PEPEUSDT	+0.0151%	1h	0.000005222	−0.359%	$152K	$832K	25x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005248	+0.146%	$8K	—	15x	as long as short
Bitget PEPEUSDTshort	+0.0276%	8h	0.000005239	−0.034%	$46.9M	$218.7M	75x
OKX PEPE-USDT-SWAP	+0.0384%	8h	0.000005242	+0.023%	$48.2M	$755.3M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0404%	1h	0.000005246	+0.099%	$2K	$11K	10x	as long as short
Injective PEPE/USDC PERP	+0.0404%	1h	0.000005203	−0.721%	$8K	$120K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0408%	8h	0.000005248	+0.137%	$35K	$26K	20x	as long as short
BloFin PEPE-USDT	+0.0505%	8h	0.000005245	+0.080%	$4.5M	$30.6M	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0507%	8h	0.000005269	+0.546%	$6K	—	20x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0513%	1h	0.000005249	+0.156%	$75K	$127K	25x	as long as short
Phemex u1000PEPEUSDT	+0.0513%	8h	0.000005247	+0.113%	$2.4M	$8.1M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0544%	1h	0.000005250	+0.176%	$695K	$40.0M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0561%	1h	0.000005243	+0.034%	$76K	$870K	15x	as long as short
Nado kPEPE-PERP	+0.0617%	1h	0.000005246	+0.091%	$169K	$955K	10x	as long as short
Lighter 1000PEPE	+0.0648%	1h	0.000005248	+0.137%	$624K	$9.0M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0700%	1h	0.000005243	+0.036%	$4.8M	$16.7M	50x	as long as short
BingX 1000PEPE-USDC	+0.0710%	8h	0.000005236	−0.082%	—	$2.3M	—	as long as short
01 Exchange kPEPEUSD	+0.0728%	1h	0.000005249	+0.156%	$633	$2K	10x	as long as short
Aster 1000PEPEUSDT	+0.0739%	8h	0.000005238	−0.063%	$1.8M	$11.7M	50x	as long as short
MEXC PEPE_USDT	+0.0749%	8h	0.000005236	−0.095%	$102.1M	$304.7M	300x	as long as short
Binance 1000PEPEUSDT	+0.0750%	8h	0.000005244	+0.055%	$143.8M	$1.49B	75x	as long as short
Extended 1000PEPE-USD	+0.0752%	1h	0.000005235	−0.109%	$550K	$284K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0752%	1h	0.000005258	+0.328%	$149K	—	3x	as long as short
Hyperliquid kPEPE	+0.0979%	1h	0.000005243	+0.042%	$54.5M	$157.5M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1136% / S −0.2351%	1h	0.000005000	−4.595%	$65K	—	100x	as long as short