Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0549%/8h= −60.1% APRpaid last 24h −0.064%

Price spread now: gTrade (Gains Network) against MEXC−0.290%7-day average — · you buy dearer than you sell

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

Long on MEXC Short on gTrade (Gains Network)

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 against this trade now: funding costs −$16 a day on $10k at the current rate, and gTrade (Gains Network) is 0.290% cheaper against MEXC than usual: you would sell low and buy high (−$29 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PEPE_USDT	0.000005108	0.0557	pay 0.0557% / 8h	6h 04m	$97.3M	$292.6M	300x
Short	gTrade (Gains Network) PEPE/USD	0.000005093	L +0.0006% / S −0.0008%	get 0.0001% / 1h	4m 33s	$18K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against MEXC. 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 MEXCbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.290%Rate

Funding earned: −$115.26
Price spread: −0.290% → 0.000%: −$28.98
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$154.23
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 5 min ago; gTrade (Gains Network): 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 MEXC live order book, 5 min ago	0.20 bp	0.8 bp −$1	14.9 bp −$149	45.5 bp −$4,552	81.3 bp −$40.7K
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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	0.000005097	−0.208%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USDshort	L +0.0006% / S −0.0008%	1h	0.000005093	−0.290%	$18K	—	150x
Pacifica kPEPE	+0.0100%	1h	0.000005102	−0.112%	$62K	$127K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005099	−0.164%	$99.4M	$326.8M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005095	−0.249%	$163.7M	$72.4M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005103	−0.086%	$25.6M	$61.4M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005104	−0.065%	$47.6M	$166.8M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005096	−0.237%	$681K	$4.6M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005115	+0.144%	$27K	$422K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005106	−0.037%	$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	0.000005099	−0.172%	$581K	$3.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005103	−0.087%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0265%	8h	0.000005104	−0.072%	$46.0M	$580.4M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0293%	8h	0.000005102	−0.106%	$33K	$24K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0424%	1h	0.000005103	−0.092%	$922K	$30.7M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0458%	8h	0.000005098	−0.188%	$2.4M	$7.0M	50x	as long as short
BingX 1000PEPE-USDT	+0.0520%	8h	0.000005098	−0.180%	—	$259.6M	—	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0530% / S −0.0562%	1h	0.000005000	−2.109%	$57K	—	100x	as long as short
MEXC PEPE_USDTlong	+0.0557%	8h	0.000005108	long leg	$97.3M	$292.6M	300x
Binance 1000PEPEUSDT	+0.0558%	8h	0.000005106	−0.033%	$144.2M	$1.18B	75x	as long as short
Extended 1000PEPE-USD	+0.0560%	1h	0.000005104	−0.079%	$559K	$199K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0560%	1h	0.000005101	−0.131%	$144K	—	3x	as long as short
SoDEX 1000PEPE-USD	+0.0613%	1h	0.000005100	−0.151%	$2K	$12K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0615%	1h	0.000005115	+0.143%	$106K	$749K	25x	as long as short
Nado kPEPE-PERP	+0.0651%	1h	0.000005108	+0.010%	$193K	$882K	10x	as long as short
Aster 1000PEPEUSDT	+0.0659%	8h	0.000005102	−0.119%	$1.7M	$8.3M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0666%	8h	0.000005100	−0.142%	$6K	—	20x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0731%	1h	0.000005100	−0.151%	$62K	$114K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0817%	1h	0.000005096	−0.223%	$4.1M	$14.6M	50x	as long as short
Injective PEPE/USDC PERP	+0.0909%	1h	0.000005109	+0.025%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0957%	1h	0.000005096	−0.239%	$98K	$609K	15x	as long as short
01 Exchange kPEPEUSD	+0.0968%	1h	0.000005108	+0.006%	$616	$3K	10x	as long as short
Lighter 1000PEPE	+0.1808%	1h	0.000005113	+0.104%	$1.1M	$7.4M	10x	as long as short
Hyperliquid kPEPE	+0.2041%	1h	0.000005111	+0.065%	$56.5M	$136.2M	10x	as long as short