Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0948%/8h= −103.8% APRpaid last 24h −0.105%

Price spread now: KuCoin against GMX+3.462%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 KuCoin

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. KuCoin is 3.462% dearer against GMX than usual: you sell high and buy low (spread +3.462% now, against zero (this spread has no 7-day history yet)): +$346 on $10k if it goes back. Holding the pair costs −$28 a day in funding at the current rate, which eats that in about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX PEPE/USD [ETH-USDC]	0.000005000	L +0.1068% / S −0.1502%	pay 0.0133% / 1h	21m 54s	$47K	—	100x
Short	KuCoin PEPEUSDTM	0.000005173	0.0120	get 0.0120% / 8h	21m 54s	$26.9M	$74.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +3.462%Rate

Funding earned: −$199.08
Price spread: +3.462% → 0.000%: $346.2
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $123.12
Costs to cover: 0.240%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 7 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 KuCoin live order book, 7 min ago	1.45 bp	14.1 bp −$14	24.6 bp −$246	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	0.000005160	+3.200%	$19K	$649	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005157	+3.136%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005168	+3.360%	$60K	$183K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005168	+3.360%	$99.6M	$429.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005166	+3.320%	$164.0M	$99.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005155	+3.091%	$614K	$5.4M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005163	+3.264%	$28K	$546K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005168	+3.366%	$2K	$2.7M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005160	+3.190%	$601K	$4.2M	75x	as long as short
KuCoin PEPEUSDTMshort	+0.0120%	8h	0.000005173	+3.462%	$26.9M	$74.0M	75x

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX 1000PEPE-USD	+0.0132%	1h	0.000005165	+3.300%	$2K	$11K	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005161	+3.216%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0259%	8h	0.000005170	+3.400%	$46.4M	$219.9M	75x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0306%	1h	0.000005162	+3.240%	$150K	$835K	25x	as long as short
OKX PEPE-USDT-SWAP	+0.0364%	8h	0.000005171	+3.420%	$47.8M	$749.7M	50x	as long as short
Injective PEPE/USDC PERP	+0.0404%	1h	0.000005153	+3.060%	$8K	$120K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0413%	8h	0.000005165	+3.294%	$34K	$26K	20x	as long as short
Paradex kPEPE-USD-PERP	+0.0459%	8h	0.000005160	+3.195%	$6K	—	20x	as long as short
Phemex u1000PEPEUSDT	+0.0476%	8h	0.000005162	+3.234%	$2.4M	$8.1M	50x	as long as short
BloFin PEPE-USDT	+0.0483%	8h	0.000005195	+3.900%	$4.6M	$30.6M	75x	as long as short
Backpack kPEPE_USDC_PERP	+0.0515%	1h	0.000005163	+3.256%	$79K	$889K	15x	as long as short
Lighter 1000PEPE	+0.0520%	1h	0.000005167	+3.340%	$620K	$9.1M	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0544%	1h	0.000005172	+3.440%	$689K	$39.9M	50x	as long as short
BingX 1000PEPE-USDC	+0.0700%	8h	0.000005160	+3.190%	—	$2.3M	—	as long as short
Nado kPEPE-PERP	+0.0700%	1h	0.000005160	+3.190%	$166K	$958K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0711%	1h	0.000005160	+3.203%	$4.8M	$16.7M	50x	as long as short
01 Exchange kPEPEUSD	+0.0712%	1h	0.000005161	+3.220%	$623	$2K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0719%	1h	0.000005164	+3.280%	$74K	$127K	25x	as long as short
Extended 1000PEPE-USD	+0.0720%	1h	0.000005171	+3.421%	$542K	$284K	25x	as long as short
MEXC PEPE_USDT	+0.0722%	8h	0.000005171	+3.424%	$101.4M	$307.9M	300x	as long as short
Aster 1000PEPEUSDT	+0.0723%	8h	0.000005173	+3.459%	$1.8M	$11.9M	50x	as long as short
Binance 1000PEPEUSDT	+0.0724%	8h	0.000005171	+3.414%	$142.4M	$1.50B	75x	as long as short
Aevo 1000PEPE-PERP	+0.0728%	1h	0.000005170	+3.400%	$146K	—	3x	as long as short
Hyperliquid kPEPE	+0.0956%	1h	0.000005174	+3.480%	$54.0M	$159.1M	10x	as long as short
GMX PEPE/USD [ETH-USDC]long	L +0.1068% / S −0.1502%	1h	0.000005000	long leg	$47K	—	100x