Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0562%/8h= −61.5% APRpaid last 24h −0.052%

Price spread now: edgeX against GMX+0.254%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 edgeX

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—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

The price spread pays, funding is against you. edgeX is 0.254% dearer against GMX than usual: you sell high and buy low (spread +0.254% now, against zero (this spread has no 7-day history yet)): +$25 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX PEPE/USD [ETH-USDC]	0.000005000	L +0.0662% / S −0.0910%	pay 0.0083% / 1h	47m 06s	$45K	—	100x
Short	edgeX 1000PEPEUSDC	0.000005013	0.0100	get 0.0050% / 4h	47m 06s	$31K	$452K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.254%Rate

Funding earned: −$117.92
Price spread: +0.254% → 0.000%: $25.39
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$113.53
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; edgeX: live order book, 12 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 edgeX live order book, 12 min ago	1.09 bp	5.8 bp −$6	84.7 bp −$847	doesn't fit	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 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	0.000005004	+0.072%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005020	+0.396%	$14K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005014	+0.280%	$64K	$140K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005019	+0.382%	$98.4M	$345.3M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005030	+0.600%	$165.9M	$75.7M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005030	+0.592%	$26.0M	$63.7M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005027	+0.532%	$675K	$4.7M	—	as long as short
edgeX 1000PEPEUSDCshort	+0.0100%	4h	0.000005013	+0.254%	$31K	$452K	20x
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005029	+0.572%	$2K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005020	+0.398%	$572K	$3.7M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PEPEUSDT	+0.0160%	8h	0.000005022	+0.446%	$45.9M	$174.7M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005019	+0.382%	$8K	—	15x	as long as short
Injective PEPE/USDC PERP	+0.0254%	1h	0.000005044	+0.880%	$3K	$102K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0330%	8h	0.000005028	+0.552%	$33K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0358%	8h	0.000005025	+0.500%	$45.0M	$593.1M	50x	as long as short
BloFin PEPE-USDT	+0.0479%	8h	0.000005028	+0.560%	$4.3M	$25.2M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0496%	1h	0.000005024	+0.480%	$2K	$12K	10x	as long as short
BingX 1000PEPE-USDC	+0.0634%	8h	0.000005023	+0.452%	—	$2.3M	—	as long as short
Phemex u1000PEPEUSDT	+0.0638%	8h	0.000005027	+0.550%	$2.4M	$7.1M	50x	as long as short
GMX PEPE/USD [ETH-USDC]long	L +0.0662% / S −0.0910%	1h	0.000005000	long leg	$45K	—	100x
Extended 1000PEPE-USD	+0.0664%	1h	0.000005022	+0.435%	$532K	$226K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0664%	1h	0.000005023	+0.460%	$142K	—	3x	as long as short
MEXC PEPE_USDT	+0.0667%	8h	0.000005031	+0.622%	$92.4M	$286.9M	300x	as long as short
Binance 1000PEPEUSDT	+0.0668%	8h	0.000005028	+0.568%	$141.4M	$1.22B	75x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0672%	1h	0.000005033	+0.660%	$972K	$31.7M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0746%	1h	0.000005024	+0.480%	$71K	$124K	25x	as long as short
Aster 1000PEPEUSDT	+0.0755%	8h	0.000005022	+0.447%	$1.8M	$9.2M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0788%	1h	0.000005031	+0.620%	$98K	$644K	15x	as long as short
Paradex kPEPE-USD-PERP	+0.0789%	8h	0.000005011	+0.223%	$6K	—	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0852%	1h	0.000005009	+0.180%	$99K	$743K	25x	as long as short
Nado kPEPE-PERP	+0.0853%	1h	0.000005016	+0.315%	$190K	$877K	10x	as long as short
01 Exchange kPEPEUSD	+0.0896%	1h	0.000005022	+0.440%	$606	$3K	10x	as long as short
Lighter 1000PEPE	+0.0904%	1h	0.000005026	+0.520%	$579K	$8.2M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1297%	1h	0.000005021	+0.428%	$4.4M	$15.4M	50x	as long as short
Hyperliquid kPEPE	+0.1403%	1h	0.000005039	+0.780%	$54.0M	$140.0M	10x	as long as short