Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0259%/8h= +28.4% APRpaid last 24h +0.104%

Price spread now: Paradex against gTrade (Gains Network)−0.542%283s7-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 Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.542% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.542% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$54 on $10k: about 7.0 days of funding at the current rate (+$8 a day). The two prices were read 283 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PEPE/USD	0.000005002	L +0.0005% / S −0.0005%	pay 0.0001% / 1h	55m 00s	$3K	—	150x
Short	Paradex kPEPE-USD-PERP	0.000004975	0.0264	get 0.0264% / 8h	6h 55m	$6K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.542%Rate

Funding earned: $54.44
Price spread: −0.542% → 0.000%: −$54.24
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$13.8
Costs to cover: 0.140%
Break-even: 8.8 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Paradex: no order-book sample. 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 Paradex no order-book sample	—	—	—	—	—

gTrade (Gains Network) and Paradex: 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
Deribit 1000PEPE_USDC-PERPETUAL	0.0000%	1h	0.000004975	−0.542%	$57K	$139K	25x	as long as short
gTrade (Gains Network) PEPE/USDlong	L +0.0005% / S −0.0005%	1h	0.000005002	long leg	$3K	—	150x
Kraken Futures PF_PEPEUSD	+0.0026%	1h	0.000004971	−0.628%	$4.6M	$16.7M	50x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004980	−0.442%	$51.4M	$162.0M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004977	−0.502%	$57K	$197K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004976	−0.520%	$95.5M	$448.2M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004975	−0.542%	$159.2M	$100.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005002	−0.012%	$650K	$5.4M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005004	+0.040%	$27K	$567K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004985	−0.340%	$2K	$2.6M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004972	−0.602%	$2K	$11K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004980	−0.446%	$582K	$4.2M	75x	as long as short
Bitget PEPEUSDT	+0.0117%	8h	0.000004978	−0.490%	$44.6M	$226.7M	75x	as long as short
Lighter 1000PEPE	+0.0120%	1h	0.000004976	−0.522%	$587K	$9.0M	10x	as long as short
01 Exchange kPEPEUSD	+0.0120%	1h	0.000004966	−0.722%	$599	$2K	10x	as long as short
KuCoin PEPEUSDTM	+0.0122%	8h	0.000004975	−0.540%	$25.4M	$75.9M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004973	−0.578%	$8K	—	15x	as long as short
Paradex kPEPE-USD-PERPshort	+0.0264%	8h	0.000004975	−0.542%	$6K	—	20x
OKX PEPE-USDT-SWAP	+0.0265%	8h	0.000004978	−0.482%	$45.3M	$739.4M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0287%	8h	0.000004982	−0.410%	$2.3M	$8.0M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0341%	1h	0.000005001	−0.022%	$145K	$846K	25x	as long as short
Injective PEPE/USDC PERP	+0.0363%	1h	0.000005011	+0.178%	$6K	$121K	12x	as long as short
BloFin PEPE-USDT	+0.0388%	8h	0.000004977	−0.502%	$4.3M	$29.8M	75x	as long as short
Nado kPEPE-PERP	+0.0396%	1h	0.000004966	−0.716%	$150K	$949K	10x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0429%	8h	0.000004980	−0.444%	$32K	$31K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004977	−0.502%	$671K	$39.1M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0484%	1h	0.000004975	−0.534%	$66K	$977K	15x	as long as short
BingX 1000PEPE-USDT	+0.0532%	8h	0.000004978	−0.488%	—	$179.9M	—	as long as short
Extended 1000PEPE-USD	+0.0536%	1h	0.000004976	−0.524%	$522K	$288K	25x	as long as short
Binance 1000PEPEUSDT	+0.0539%	8h	0.000004982	−0.397%	$131.1M	$1.55B	75x	as long as short
MEXC PEPE_USDT	+0.0546%	8h	0.000004978	−0.472%	$102.1M	$304.0M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0552%	1h	0.000004977	−0.502%	$141K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0562%	8h	0.000004981	−0.423%	$1.8M	$12.3M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0926% / S −0.1034%	1h	0.000004000	−20.034%	$50K	—	100x	as long as short
dYdX PEPE-USD	+0.7486%	1h	0.000004968	−0.684%	$25K	$12K	10x	as long as short