Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0251%/8h= +27.4% APRpaid last 24h +0.065%

Price spread now: GMX against Gate−16.493%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 GMX

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. GMX is 16.493% cheaper against Gate than usual: you would sell low and buy high (spread −16.493% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$1,649 on $10k: about 7 months of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PEPE_USDT	0.000004790	0.0100	pay 0.0100% / 8h	1h 11m	$150.2M	$63.4M	75x
Short	GMX PEPE/USD [ETH-USDC]	0.000004000	L +0.0326% / S −0.0351%	get 0.0044% / 1h	11m 43s	$43K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −16.493%Rate

Funding earned: $52.63
Price spread: −16.493% → 0.000%: −$1,649.27
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: −$1,623.64
Costs to cover: 0.270%
Break-even: 222.9 days

Slippage unknown: Gate: live order book, 2 min ago; GMX: 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, 2 min ago	1.04 bp	11.6 bp −$12	16.9 bp −$169	72.4 bp −$7,237	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	0.000004793	+0.064%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004797	+0.138%	$14K	—	150x	as long as short
Lighter 1000PEPE	+0.0096%	1h	0.000004797	+0.146%	$669K	$6.0M	10x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004793	+0.063%	$62.6M	$82.8M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004796	+0.125%	$59K	$114K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004794	+0.084%	$86.9M	$282.9M	50x	as long as short
Gate PEPE_USDTlong	+0.0100%	8h	0.000004790	long leg	$150.2M	$63.4M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004794	+0.094%	$24.7M	$54.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004782	−0.169%	$541K	$4.0M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004784	−0.120%	$27K	$345K	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	0.000004808	+0.370%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004799	+0.188%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004793	+0.067%	$540K	$3.5M	75x	as long as short
Bitget PEPEUSDT	+0.0114%	8h	0.000004794	+0.092%	$42.1M	$148.8M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004790	+0.004%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0218%	8h	0.000004795	+0.104%	$41.5M	$491.5M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0275%	8h	0.000004796	+0.123%	$5K	$16	20x	as long as short
GMX PEPE/USD [ETH-USDC]short	L +0.0326% / S −0.0351%	1h	0.000004000	−16.493%	$43K	—	100x
BloFin PEPE-USDT	+0.0336%	8h	0.000004794	+0.084%	$3.9M	$22.1M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0340%	8h	0.000004799	+0.188%	$2.3M	$6.4M	50x	as long as short
01 Exchange kPEPEUSD	+0.0408%	1h	0.000004792	+0.042%	$549	$2K	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0448%	1h	0.000004793	+0.063%	$582K	$25.5M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0450%	8h	0.000004801	+0.225%	$29K	$11K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0471%	1h	0.000004779	−0.230%	$102K	$763K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0546%	1h	0.000004794	+0.079%	$92K	$614K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0584%	1h	0.000004800	+0.209%	$81K	$94K	25x	as long as short
BingX 1000PEPE-USDT	+0.0735%	8h	0.000004798	+0.171%	—	$256.4M	—	as long as short
Binance 1000PEPEUSDT	+0.0754%	8h	0.000004797	+0.154%	$130.5M	$1.04B	75x	as long as short
Nado kPEPE-PERP	+0.0757%	1h	0.000004794	+0.079%	$184K	$845K	10x	as long as short
Extended 1000PEPE-USD	+0.0760%	1h	0.000004797	+0.148%	$526K	$148K	25x	as long as short
MEXC PEPE_USDT	+0.0760%	8h	0.000004794	+0.094%	$91.4M	$285.8M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0760%	1h	0.000004802	+0.251%	$136K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0768%	8h	0.000004796	+0.122%	$1.5M	$7.1M	50x	as long as short
Injective PEPE/USDC PERP	+0.0873%	1h	0.000004814	+0.501%	$4K	$103K	12x	as long as short
Kraken Futures PF_PEPEUSD	+0.1329%	1h	0.000004798	+0.171%	$3.9M	$13.3M	50x	as long as short