Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0437%/8h= −47.9% APRpaid last 24h −0.052%

Price spread now: HTX against GMX+2.174%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 HTX

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

The price spread pays, funding is against you. HTX is 2.174% dearer against GMX than usual: you sell high and buy low (spread +2.174% now, against zero (this spread has no 7-day history yet)): +$217 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 17 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX PEPE/USD [ETH-USDC]	0.000005000	L +0.0537% / S −0.0928%	pay 0.0067% / 1h	59m 17s	$48K	—	100x
Short	HTX PEPE-USDT	0.000005109	0.0100	get 0.0100% / 8h	5h 59m	$582K	$3.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +2.174%Rate

Funding earned: −$91.77
Price spread: +2.174% → 0.000%: $217.4
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: $101.63
Costs to cover: 0.240%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; HTX: live order book, 5 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 HTX live order book, 5 min ago	10.05 bp	20.3 bp −$20	40.7 bp −$407	93.4 bp −$9,344	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	0.000005111	+2.223%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005104	+2.088%	$18K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005119	+2.380%	$63K	$128K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005107	+2.134%	$99.6M	$327.9M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005106	+2.120%	$163.6M	$72.0M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005106	+2.122%	$25.5M	$61.5M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005113	+2.254%	$47.7M	$167.7M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005100	+1.992%	$681K	$4.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005107	+2.136%	$27K	$424K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005119	+2.374%	$1K	$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-USDTshort	+0.0100%	8h	0.000005109	+2.174%	$582K	$3.6M	75x
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005108	+2.165%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0274%	8h	0.000005112	+2.240%	$46.3M	$582.4M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0295%	8h	0.000005111	+2.226%	$34K	$24K	20x	as long as short
SoDEX 1000PEPE-USD	+0.0375%	1h	0.000005114	+2.280%	$2K	$12K	10x	as long as short
Phemex u1000PEPEUSDT	+0.0489%	8h	0.000005109	+2.178%	$2.4M	$7.0M	50x	as long as short
BingX 1000PEPE-USDC	+0.0530%	8h	0.000005107	+2.150%	—	$2.3M	—	as long as short
GMX PEPE/USD [ETH-USDC]long	L +0.0537% / S −0.0928%	1h	0.000005000	long leg	$48K	—	100x
Aevo 1000PEPE-PERP	+0.0560%	1h	0.000005116	+2.320%	$145K	—	3x	as long as short
MEXC PEPE_USDT	+0.0562%	8h	0.000005114	+2.280%	$96.8M	$285.2M	300x	as long as short
Binance 1000PEPEUSDT	+0.0567%	8h	0.000005112	+2.246%	$144.8M	$1.18B	75x	as long as short
Extended 1000PEPE-USD	+0.0568%	1h	0.000005111	+2.230%	$562K	$199K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0576%	1h	0.000005115	+2.300%	$931K	$30.8M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0657%	1h	0.000005104	+2.080%	$106K	$749K	25x	as long as short
Aster 1000PEPEUSDT	+0.0675%	8h	0.000005107	+2.150%	$1.7M	$8.3M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0693%	8h	0.000005121	+2.420%	$6K	—	20x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0729%	1h	0.000005112	+2.240%	$62K	$114K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0953%	1h	0.000005112	+2.246%	$99K	$610K	15x	as long as short
Injective PEPE/USDC PERP	+0.0973%	1h	0.000005105	+2.100%	$4K	$102K	12x	as long as short
01 Exchange kPEPEUSD	+0.1152%	1h	0.000005115	+2.300%	$617	$3K	10x	as long as short
Nado kPEPE-PERP	+0.1331%	1h	0.000005111	+2.224%	$194K	$882K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1361%	1h	0.000005111	+2.222%	$4.1M	$14.6M	50x	as long as short
Hyperliquid kPEPE	+0.1536%	1h	0.000005116	+2.320%	$56.5M	$136.5M	10x	as long as short
Lighter 1000PEPE	+0.1544%	1h	0.000005121	+2.420%	$1.1M	$7.4M	10x	as long as short