Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0311%/8h= +34.1% APRpaid last 24h +0.042%

Price spread now: GMX against Bitget−0.796%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on GMX

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

Funding pays, the price is against you. GMX is 0.796% cheaper against Bitget than usual: you would sell low and buy high (spread −0.796% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$80 on $10k: about 8.5 days of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PEPEUSDT	0.000005040	0.0100	pay 0.0100% / 8h	6h 43m	$44.7M	$158.6M	75x
Short	GMX PEPE/USD [ETH-USDC]	0.000005000	L +0.0506% / S −0.0411%	get 0.0051% / 1h	43m 59s	$63K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now −0.796%Rate

Funding earned: $65.32
Price spread: −0.796% → 0.000%: −$79.56
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$38.24
Costs to cover: 0.240%
Break-even: 11.1 days

Slippage unknown: Bitget: live order book, 5 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 Bitget live order book, 5 min ago	2.88 bp	10.3 bp −$10	12.7 bp −$127	doesn't fit	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 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	0.000005009	−0.623%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005039	−0.014%	$3K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005012	−0.558%	$61K	$125K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005036	−0.091%	$97.3M	$319.8M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005041	+0.018%	$160.3M	$69.9M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005044	+0.073%	$25.2M	$59.3M	75x	as long as short
Bitget PEPEUSDTlong	+0.0100%	8h	0.000005040	long leg	$44.7M	$158.6M	75x
Variational Omni 1000PEPE	+0.0100%	8h	0.000005015	−0.504%	$559K	$4.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005028	−0.241%	$46K	$388K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005039	−0.024%	$2K	$2.5M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005036	−0.091%	$566K	$3.6M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000005036	−0.075%	$2.4M	$6.8M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0158%	1h	0.000005031	−0.181%	$107K	$752K	25x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005030	−0.194%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0211%	8h	0.000005038	−0.042%	$44.6M	$559.1M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0275%	8h	0.000005047	+0.137%	$33K	$23K	20x	as long as short
BloFin PEPE-USDT	+0.0318%	8h	0.000005008	−0.637%	$4.2M	$24.6M	75x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0424%	1h	0.000005044	+0.077%	$655K	$28.9M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0434%	8h	0.000005020	−0.396%	$6K	$16	20x	as long as short
BingX 1000PEPE-USDC	+0.0457%	8h	0.000005038	−0.040%	—	$2.3M	—	as long as short
Extended 1000PEPE-USD	+0.0488%	1h	0.000005038	−0.043%	$554K	$199K	25x	as long as short
MEXC PEPE_USDT	+0.0488%	8h	0.000005042	+0.042%	$95.8M	$288.3M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0488%	1h	0.000005043	+0.058%	$143K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0489%	8h	0.000005041	+0.028%	$140.9M	$1.16B	75x	as long as short
GMX PEPE/USD [ETH-USDC]short	L +0.0506% / S −0.0411%	1h	0.000005000	−0.796%	$63K	—	100x
SoDEX 1000PEPE-USD	+0.0542%	1h	0.000005043	+0.058%	$2K	$12K	10x	as long as short
Aster 1000PEPEUSDT	+0.0566%	8h	0.000005042	+0.044%	$1.7M	$8.0M	50x	as long as short
Nado kPEPE-PERP	+0.0619%	1h	0.000005031	−0.174%	$178K	$883K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0826%	1h	0.000005043	+0.049%	$4.0M	$14.4M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0904%	1h	0.000005051	+0.220%	$103K	$625K	15x	as long as short
Injective PEPE/USDC PERP	+0.0909%	1h	0.000005035	−0.101%	$4K	$102K	12x	as long as short
01 Exchange kPEPEUSD	+0.0960%	1h	0.000005040	−0.002%	$1K	$2K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.1138%	1h	0.000005049	+0.177%	$61K	$114K	25x	as long as short
Lighter 1000PEPE	+0.1304%	1h	0.000005048	+0.157%	$653K	$6.8M	10x	as long as short
Hyperliquid kPEPE	+0.2512%	1h	0.000005054	+0.276%	$55.9M	$135.0M	10x	as long as short