Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0263%/8h= +28.7% APRpaid last 24h +0.126%

Price spread now: GMX against OKX−17.898%7-day average — · you buy dearer than you sell

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

Long on OKX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. GMX is 17.898% cheaper against OKX than usual: you would sell low and buy high (spread −17.898% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$1,790 on $10k: about 8 months of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PEPE-USDT-SWAP	0.000004872	0.0100	pay 0.0100% / 8h	6h 08m	$45.6M	$243.7M	50x
Short	GMX PEPE/USD [ETH-USDC]	0.000004000	L +0.0387% / S −0.0363%	get 0.0045% / 1h	8m 09s	$71K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. 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 OKXbpFee GMXbpOrdersPrice spread, now −17.898%Rate

Funding earned: $55.14
Price spread: −17.898% → 0.000%: −$1,789.82
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$1,756.68
Costs to cover: 0.220%
Break-even: 230.0 days

Slippage unknown: OKX: live order book, 4 min ago; GMX: 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 OKX live order book, 4 min ago	1.02 bp	7.0 bp −$7	10.0 bp −$100	34.5 bp −$3,448	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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 exchanges

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	0.000004870	−0.032%	$23K	$4K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	0.0000%	1h	0.000004874	+0.041%	$39K	$49K	25x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0007%	1h	0.000004879	+0.152%	$4K	—	150x	as long as short
Injective PEPE/USDC PERP	+0.0033%	1h	0.000004901	+0.595%	$3K	$46K	12x	as long as short
Aevo 1000PEPE-PERP	+0.0096%	1h	0.000004873	+0.021%	$138K	—	3x	as long as short
Kraken Futures PF_PEPEUSD	+0.0096%	1h	0.000004876	+0.077%	$4.2M	$5.9M	50x	as long as short
Nado kPEPE-PERP	+0.0100%	1h	0.000004876	+0.077%	$208K	$298K	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004877	+0.103%	$61K	$78K	10x	as long as short
Binance 1000PEPEUSDT	+0.0100%	8h	0.000004871	−0.013%	$120.0M	$517.2M	75x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004870	−0.049%	$89.2M	$139.0M	50x	as long as short

Show all 35 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PEPE-USDT-SWAPlong	+0.0100%	8h	0.000004872	long leg	$45.6M	$243.7M	50x
Gate PEPE_USDT	+0.0100%	8h	0.000004874	+0.041%	$135.3M	$34.4M	75x	as long as short
MEXC PEPE_USDT	+0.0100%	8h	0.000004870	−0.039%	$105.2M	$138.2M	300x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004872	+0.008%	$22.5M	$30.8M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004874	+0.037%	$41.2M	$78.1M	75x	as long as short
BingX 1000PEPE-USDC	+0.0100%	8h	0.000004875	+0.057%	—	$2.3M	—	as long as short
Backpack kPEPE_USDC_PERP	+0.0100%	1h	0.000004871	−0.027%	$124K	$189K	15x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004881	+0.192%	$597K	$2.1M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004876	+0.077%	$27K	$445K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004872	0.000%	$85K	$761K	25x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0100%	8h	0.000004872	+0.008%	$33K	$5K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004881	+0.189%	$1K	$704K	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004881	+0.185%	$1K	$11K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004879	+0.150%	$573K	$1.6M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000004871	−0.031%	$2.3M	$5.6M	50x	as long as short
Extended 1000PEPE-USD	+0.0104%	1h	0.000004873	+0.013%	$511K	$62K	25x	as long as short
Paradex kPEPE-USD-PERP	+0.0120%	8h	0.000004875	+0.067%	$5K	$9K	20x	as long as short
Reya kPEPERUSDPERP	+0.0190%	1h	0.000004877	+0.099%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0220%	8h	0.000004884	+0.246%	$4.6M	$9.0M	75x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0248%	1h	0.000004876	+0.082%	$666K	$8.5M	50x	as long as short
01 Exchange kPEPEUSD	+0.0328%	1h	0.000004881	+0.185%	$589	$444	10x	as long as short
Hyperliquid kPEPE	+0.0337%	1h	0.000004880	+0.164%	$51.7M	$33.9M	10x	as long as short
GMX PEPE/USD [ETH-USDC]short	L +0.0387% / S −0.0363%	1h	0.000004000	−17.898%	$71K	—	100x
Lighter 1000PEPE	+0.0392%	1h	0.000004878	+0.123%	$888K	$2.6M	10x	as long as short
Aster 1000PEPEUSDT	+0.0742%	8h	0.000004878	+0.115%	$2.0M	$3.9M	50x	as long as short