Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0010%/8h= +1.1% APRpaid last 24h −0.017%

Price spread now: Binance against GMX+1.431%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Binance

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 $0 a day on $10k at the current rate, and Binance is 1.431% dearer against GMX than usual: you sell high and buy low: +$143 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	GMX PEPE/USD [ETH-USDC]	0.000005000	L +0.0507% / S −0.0412%	pay 0.0063% / 1h	28m 20s	$63K	—	100x
Short	Binance 1000PEPEUSDT	0.000005072	0.0518	get 0.0518% / 8h	6h 28m	$143.0M	$1.16B	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. 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 GMXbpFee BinancebpOrdersPrice spread, now +1.431%Rate

Funding earned: $2.19
Price spread: +1.431% → 0.000%: $143.12
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: $123.31
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Binance: live order book, 16 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 GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, 16 min ago	0.10 bp	6.1 bp −$6	14.3 bp −$143	41.7 bp −$4,172	doesn't fit

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 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	0.000005042	+0.834%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005061	+1.218%	$14K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005050	+1.000%	$61K	$125K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005066	+1.322%	$98.6M	$321.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005060	+1.200%	$161.6M	$70.6M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005068	+1.356%	$25.0M	$60.0M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005073	+1.450%	$46.6M	$159.9M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005030	+0.594%	$565K	$4.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005036	+0.725%	$27K	$409K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005070	+1.394%	$2K	$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	0.000005063	+1.266%	$571K	$3.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005069	+1.371%	$8K	—	15x	as long as short
Phemex u1000PEPEUSDT	+0.0209%	8h	0.000005050	+0.992%	$2.4M	$6.8M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0227%	8h	0.000005070	+1.400%	$44.9M	$566.8M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0277%	8h	0.000005075	+1.492%	$33K	$23K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0340%	1h	0.000005036	+0.720%	$106K	$746K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0424%	1h	0.000005058	+1.160%	$647K	$29.2M	50x	as long as short
BingX 1000PEPE-USDT	+0.0482%	8h	0.000005070	+1.396%	—	$258.7M	—	as long as short
GMX PEPE/USD [ETH-USDC]long	L +0.0507% / S −0.0412%	1h	0.000005000	long leg	$63K	—	100x
MEXC PEPE_USDT	+0.0511%	8h	0.000005070	+1.410%	$95.9M	$289.9M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0512%	1h	0.000005070	+1.400%	$143K	—	3x	as long as short
Binance 1000PEPEUSDTshort	+0.0518%	8h	0.000005072	+1.431%	$143.0M	$1.16B	75x
Extended 1000PEPE-USD	+0.0520%	1h	0.000005069	+1.376%	$557K	$199K	25x	as long as short
Paradex kPEPE-USD-PERP	+0.0539%	8h	0.000005050	+0.990%	$6K	$16	20x	as long as short
Aster 1000PEPEUSDT	+0.0609%	8h	0.000005054	+1.070%	$1.7M	$8.1M	50x	as long as short
Nado kPEPE-PERP	+0.0614%	1h	0.000005065	+1.292%	$178K	$878K	10x	as long as short
SoDEX 1000PEPE-USD	+0.0615%	1h	0.000005067	+1.340%	$2K	$12K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0737%	1h	0.000005073	+1.460%	$62K	$114K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0822%	1h	0.000005066	+1.322%	$4.0M	$14.5M	50x	as long as short
Injective PEPE/USDC PERP	+0.0909%	1h	0.000005061	+1.220%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0918%	1h	0.000005049	+0.976%	$102K	$616K	15x	as long as short
01 Exchange kPEPEUSD	+0.0984%	1h	0.000005064	+1.280%	$1K	$2K	10x	as long as short
Lighter 1000PEPE	+0.1440%	1h	0.000005060	+1.200%	$1.1M	$7.4M	10x	as long as short
Hyperliquid kPEPE	+0.2244%	1h	0.000005076	+1.520%	$55.9M	$135.6M	10x	as long as short