Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0094%/8h= −10.3% APRpaid last 24h −0.011%

Price spread now: gTrade (Gains Network) against Gate−0.160%7-day average — · you buy dearer than you sell

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

Long on Gate Short on gTrade (Gains Network)

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 against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.160% cheaper against Gate than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PEPE_USDT	0.000004869	0.0100	pay 0.0100% / 8h	1h 38m	$152.4M	$62.5M	75x
Short	gTrade (Gains Network) PEPE/USD	0.000004861	L +0.0006% / S −0.0006%	get 0.0001% / 1h	38m 37s	$14K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Gate. 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 GatebpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.160%Rate

Funding earned: −$19.83
Price spread: −0.160% → 0.000%: −$16.02
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$60.85
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 5 min ago; gTrade (Gains Network): 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 Gate live order book, 5 min ago	2.07 bp	12.0 bp −$12	18.5 bp −$185	67.8 bp −$6,777	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

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	0.000004869	+0.005%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USDshort	L +0.0006% / S −0.0006%	1h	0.000004861	−0.160%	$14K	—	150x
Lighter 1000PEPE	+0.0096%	1h	0.000004875	+0.123%	$616K	$5.4M	10x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004862	−0.144%	$61.7M	$77.7M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004872	+0.062%	$60K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004866	−0.062%	$88.1M	$279.3M	50x	as long as short
Gate PEPE_USDTlong	+0.0100%	8h	0.000004869	long leg	$152.4M	$62.5M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004866	−0.070%	$25.1M	$53.8M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004864	−0.104%	$583K	$4.0M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004863	−0.132%	$27K	$342K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004871	+0.047%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004866	−0.062%	$2K	$9K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004872	+0.053%	$551K	$3.5M	75x	as long as short
Bitget PEPEUSDT	+0.0159%	8h	0.000004874	+0.107%	$42.9M	$151.5M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004867	−0.049%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0201%	8h	0.000004868	−0.021%	$42.0M	$495.6M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0317% / S −0.0215%	1h	0.000004000	−17.848%	$53K	—	100x	as long as short
BloFin PEPE-USDT	+0.0322%	8h	0.000004870	+0.021%	$3.9M	$22.3M	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0398%	8h	0.000004874	+0.096%	$5K	$16	20x	as long as short
Phemex u1000PEPEUSDT	+0.0414%	8h	0.000004869	−0.010%	$2.3M	$6.4M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0442%	8h	0.000004863	−0.131%	$30K	$11K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0448%	1h	0.000004863	−0.123%	$616K	$25.7M	50x	as long as short
01 Exchange kPEPEUSD	+0.0496%	1h	0.000004872	+0.062%	$558	$2K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0573%	1h	0.000004866	−0.062%	$82K	$94K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0644%	1h	0.000004866	−0.055%	$92K	$614K	15x	as long as short
Nado kPEPE-PERP	+0.0726%	1h	0.000004868	−0.014%	$187K	$854K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0783%	1h	0.000004859	−0.205%	$103K	$763K	25x	as long as short
BingX 1000PEPE-USDC	+0.0827%	8h	0.000004873	+0.076%	—	$2.3M	—	as long as short
Binance 1000PEPEUSDT	+0.0841%	8h	0.000004869	−0.004%	$131.2M	$1.03B	75x	as long as short
MEXC PEPE_USDT	+0.0844%	8h	0.000004872	+0.068%	$92.6M	$283.4M	300x	as long as short
Extended 1000PEPE-USD	+0.0848%	1h	0.000004872	+0.071%	$535K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0848%	1h	0.000004867	−0.041%	$138K	—	3x	as long as short
Injective PEPE/USDC PERP	+0.0873%	1h	0.000004877	+0.164%	$4K	$103K	12x	as long as short
Aster 1000PEPEUSDT	+0.0876%	8h	0.000004869	+0.006%	$1.5M	$7.0M	50x	as long as short
Kraken Futures PF_PEPEUSD	+0.1311%	1h	0.000004864	−0.098%	$4.0M	$13.3M	50x	as long as short