Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0209%/8h= −22.9% APRpaid last 24h −0.026%

Price spread now: gTrade (Gains Network) against Phemex−0.004%7-day average — · you buy dearer than you sell

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

Long on Phemex 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex u1000PEPEUSDT	0.000004799	0.0215	pay 0.0215% / 8h	42m 46s	$2.3M	$6.4M	50x
Short	gTrade (Gains Network) PEPE/USD	0.000004799	L +0.0006% / S −0.0006%	get 0.0001% / 1h	42m 46s	$14K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Phemex. 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 PhemexbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.004%Rate

Funding earned: −$43.92
Price spread: −0.004% → 0.000%: −$0.42
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$66.33
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 6 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 Phemex live order book, 6 min ago	6.34 bp	12.7 bp −$13	29.8 bp −$298	doesn't fit	doesn't fit
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 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
Hyperliquid kPEPE	−0.0259%	1h	0.000004795	−0.092%	$67.5M	$89.2M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004807	+0.156%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USDshort	L +0.0006% / S −0.0006%	1h	0.000004799	−0.004%	$14K	—	150x
Kraken Futures PF_PEPEUSD	+0.0066%	1h	0.000004799	−0.013%	$3.9M	$13.6M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004809	+0.200%	$59K	$115K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004799	−0.008%	$86.4M	$288.7M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004799	−0.008%	$150.2M	$64.1M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004800	+0.008%	$24.5M	$54.3M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004801	+0.029%	$42.3M	$149.7M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004829	+0.615%	$591K	$4.1M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004821	+0.442%	$26K	$350K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004820	+0.429%	$101K	$761K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004813	+0.277%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004800	+0.013%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004803	+0.069%	$543K	$3.5M	75x	as long as short
Lighter 1000PEPE	+0.0168%	1h	0.000004803	+0.075%	$626K	$6.3M	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004804	+0.096%	$7K	—	15x	as long as short
Paradex kPEPE-USD-PERP	+0.0204%	8h	0.000004807	+0.151%	$5K	$16	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0212%	8h	0.000004802	+0.054%	$41.8M	$498.0M	50x	as long as short
Phemex u1000PEPEUSDTlong	+0.0215%	8h	0.000004799	long leg	$2.3M	$6.4M	50x
01 Exchange kPEPEUSD	+0.0232%	1h	0.000004806	+0.138%	$551	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0333%	8h	0.000004801	+0.033%	$3.9M	$22.3M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0364% / S −0.0408%	1h	0.000004000	−16.656%	$42K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004807	+0.158%	$569K	$25.7M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0415%	8h	0.000004803	+0.073%	$30K	$12K	20x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004818	+0.388%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0482%	1h	0.000004799	−0.017%	$91K	$601K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0584%	1h	0.000004803	+0.075%	$81K	$94K	25x	as long as short
BingX 1000PEPE-USDT	+0.0657%	8h	0.000004802	+0.054%	—	$256.4M	—	as long as short
Binance 1000PEPEUSDT	+0.0670%	8h	0.000004801	+0.032%	$131.6M	$1.05B	75x	as long as short
Extended 1000PEPE-USD	+0.0672%	1h	0.000004800	+0.023%	$529K	$148K	25x	as long as short
Aster 1000PEPEUSDT	+0.0676%	8h	0.000004802	+0.054%	$1.5M	$7.2M	50x	as long as short
MEXC PEPE_USDT	+0.0677%	8h	0.000004801	+0.025%	$93.3M	$280.0M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0680%	1h	0.000004802	+0.054%	$136K	—	3x	as long as short
Nado kPEPE-PERP	+0.0831%	1h	0.000004806	+0.135%	$184K	$848K	10x	as long as short