Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0357%/8h= +39.1% APRpaid last 24h +0.031%

Price spread now: Phemex against gTrade (Gains Network)+0.073%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 Phemex

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 +$11 a day on $10k at the current rate, and Phemex is 0.073% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$7 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	0.000005055	L +0.0005% / S −0.0005%	pay 0.0001% / 1h	20m 41s	$14K	—	150x
Short	Phemex u1000PEPEUSDT	0.000005059	0.0362	get 0.0362% / 8h	6h 20m	$2.4M	$7.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.073%Rate

Funding earned: $74.94
Price spread: +0.073% → 0.000%: $7.32
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: $60.26
Costs to cover: 0.220%
Break-even: 1.4 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Phemex: 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 Phemex live order book, 3 min ago	8.60 bp	18.5 bp −$19	42.8 bp −$428	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 34 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	0.000005019	−0.722%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USDlong	L +0.0005% / S −0.0005%	1h	0.000005055	long leg	$14K	—	150x
Pacifica kPEPE	+0.0100%	1h	0.000005027	−0.558%	$61K	$125K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005022	−0.663%	$97.2M	$324.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005022	−0.657%	$160.8M	$71.0M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005020	−0.694%	$25.2M	$60.8M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005023	−0.633%	$46.7M	$162.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005056	+0.007%	$624K	$4.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005055	−0.007%	$34K	$414K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005067	+0.226%	$1K	$2.4M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005065	+0.190%	$568K	$3.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005062	+0.144%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0233%	8h	0.000005025	−0.597%	$44.8M	$565.6M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0279%	8h	0.000005057	+0.030%	$33K	$23K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0296%	1h	0.000005053	−0.044%	$106K	$746K	25x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0344%	1h	0.000005057	+0.036%	$61K	$114K	25x	as long as short
Phemex u1000PEPEUSDTshort	+0.0362%	8h	0.000005059	+0.073%	$2.4M	$7.0M	50x
Coinbase International 1000PEPE-PERP-INTX	+0.0424%	1h	0.000005059	+0.075%	$727K	$29.7M	50x	as long as short
BingX 1000PEPE-USDC	+0.0490%	8h	0.000005023	−0.639%	—	$2.3M	—	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0514% / S −0.0540%	1h	0.000005000	−1.092%	$56K	—	100x	as long as short
Extended 1000PEPE-USD	+0.0520%	1h	0.000005020	−0.703%	$554K	$199K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0520%	1h	0.000005058	+0.055%	$143K	—	3x	as long as short
MEXC PEPE_USDT	+0.0523%	8h	0.000005027	−0.566%	$94.0M	$291.0M	300x	as long as short
Binance 1000PEPEUSDT	+0.0524%	8h	0.000005027	−0.550%	$141.6M	$1.17B	75x	as long as short
SoDEX 1000PEPE-USD	+0.0553%	1h	0.000005055	−0.004%	$2K	$12K	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0567%	8h	0.000005024	−0.612%	$6K	$16	20x	as long as short
Aster 1000PEPEUSDT	+0.0617%	8h	0.000005033	−0.442%	$1.7M	$8.2M	50x	as long as short
Nado kPEPE-PERP	+0.0639%	1h	0.000005064	+0.177%	$182K	$881K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0824%	1h	0.000005053	−0.043%	$4.0M	$14.5M	50x	as long as short
Injective PEPE/USDC PERP	+0.0909%	1h	0.000005098	+0.847%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0931%	1h	0.000005050	−0.095%	$100K	$617K	15x	as long as short
01 Exchange kPEPEUSD	+0.0960%	1h	0.000005064	+0.174%	$1K	$2K	10x	as long as short
Lighter 1000PEPE	+0.1592%	1h	0.000005036	−0.380%	$1.1M	$7.4M	10x	as long as short
Hyperliquid kPEPE	+0.2161%	1h	0.000005031	−0.479%	$55.4M	$135.9M	10x	as long as short