Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0455%/8h= +49.8% APRpaid last 24h +0.074%

Price spread now: Injective against Gate+0.657%7-day average — · you sell dearer than you buy

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

Long on Gate Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.396%+$40 on $10k

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 +$14 a day on $10k at the current rate, and Injective is 0.657% dearer against Gate than usual: you sell high and buy low: +$66 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	Gate PEPE_USDT	0.000004870	0.0100	pay 0.0100% / 8h	2h 54m	$148.7M	$59.6M	75x
Short	Injective PEPE/USDC PERP	0.000004902	0.0555	get 0.0069% / 1h	54m 48s	$4K	$92K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.657%Rate

Funding earned: $95.58
Price spread: +0.657% → 0.000%: $65.71
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $146.27
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Gate: live order book, 4 min ago; Injective: 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, 4 min ago	2.04 bp	16.0 bp −$16	20.8 bp −$208	67.6 bp −$6,757	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	0.000004892	+0.451%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004893	+0.466%	$15K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004868	−0.041%	$56.5M	$66.6M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004897	+0.554%	$58K	$108K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004864	−0.113%	$88.1M	$265.9M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0100%	8h	0.000004869	−0.021%	$42.6M	$482.6M	50x	as long as short
Gate PEPE_USDTlong	+0.0100%	8h	0.000004870	long leg	$148.7M	$59.6M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004870	−0.006%	$24.6M	$48.8M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004889	+0.400%	$719K	$3.8M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004893	+0.463%	$28K	$335K	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	0.000004908	+0.780%	$2K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004899	+0.595%	$564K	$3.5M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0156%	1h	0.000004894	+0.493%	$2K	$9K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0172%	1h	0.000004888	+0.378%	$97K	$591K	15x	as long as short
Bitget PEPEUSDT	+0.0183%	8h	0.000004866	−0.078%	$45.6M	$136.4M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004898	+0.566%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0220%	8h	0.000004893	+0.472%	$4.0M	$21.6M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0312% / S −0.0263%	1h	0.000004000	−17.864%	$48K	—	100x	as long as short
Lighter 1000PEPE	+0.0320%	1h	0.000004892	+0.452%	$587K	$4.9M	10x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0345%	8h	0.000004898	+0.581%	$31K	$10K	20x	as long as short
Paradex kPEPE-USD-PERP	+0.0352%	8h	0.000004899	+0.592%	$5K	$16	20x	as long as short
Phemex u1000PEPEUSDT	+0.0431%	8h	0.000004893	+0.468%	$2.4M	$6.2M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004904	+0.698%	$635K	$25.1M	50x	as long as short
01 Exchange kPEPEUSD	+0.0512%	1h	0.000004901	+0.637%	$561	$2K	10x	as long as short
Injective PEPE/USDC PERPshort	+0.0555%	1h	0.000004902	+0.657%	$4K	$92K	12x
Nado kPEPE-PERP	+0.0639%	1h	0.000004898	+0.581%	$193K	$845K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0699%	1h	0.000004891	+0.431%	$101K	$755K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0749%	1h	0.000004891	+0.428%	$3.9M	$12.5M	50x	as long as short
BingX 1000PEPE-USDC	+0.0763%	8h	0.000004867	−0.062%	—	$2.3M	—	as long as short
Extended 1000PEPE-USD	+0.0792%	1h	0.000004871	+0.030%	$537K	$146K	25x	as long as short
MEXC PEPE_USDT	+0.0792%	8h	0.000004871	+0.025%	$111.2M	$281.0M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0792%	1h	0.000004895	+0.513%	$138K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0793%	8h	0.000004871	+0.018%	$130.8M	$987.6M	75x	as long as short
Aster 1000PEPEUSDT	+0.0858%	8h	0.000004883	+0.274%	$1.5M	$6.7M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0976%	1h	0.000004899	+0.595%	$79K	$91K	25x	as long as short