Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.2251%/8h= +246.5% APRpaid last 24h +0.089%

Price spread now: GMX against edgeX−2.631%7-day average — · you buy dearer than you sell

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

Long on edgeX 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—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Funding pays, the price is against you. GMX is 2.631% cheaper against edgeX than usual: you would sell low and buy high (spread −2.631% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$263 on $10k: about 3.9 days of funding at the current rate (+$68 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX 1000PEPEUSDC	0.000005135	0.0100	pay 0.0050% / 4h	2h 07m	$28K	$538K	20x
Short	GMX PEPE/USD [ETH-USDC]	0.000005000	L +0.1132% / S −0.2351%	get 0.0294% / 1h	7m 00s	$63K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against edgeX. 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 edgeXbpFee GMXbpOrdersPrice spread, now −2.631%Rate

Funding earned: $472.71
Price spread: −2.631% → 0.000%: −$263.15
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: $188.56
Costs to cover: 0.210%
Break-even: 4.2 days

Slippage unknown: edgeX: live order book, 42 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 edgeX live order book, 42 min ago	0.99 bp	5.6 bp −$6	8.1 bp −$81	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	0.000005150	+0.281%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0007%	1h	0.000005154	+0.362%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005158	+0.445%	$59K	$178K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005148	+0.258%	$100.7M	$410.3M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005157	+0.426%	$163.3M	$95.6M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005163	+0.551%	$26.2M	$71.4M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005142	+0.126%	$614K	$5.3M	—	as long as short
edgeX 1000PEPEUSDClong	+0.0100%	4h	0.000005135	long leg	$28K	$538K	20x
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005165	+0.586%	$2K	$2.6M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005160	+0.484%	$586K	$4.2M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX 1000PEPE-USD	+0.0184%	1h	0.000005161	+0.504%	$2K	$11K	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005158	+0.436%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0323%	8h	0.000005158	+0.451%	$46.0M	$212.6M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0383%	8h	0.000005163	+0.535%	$34K	$26K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0422%	8h	0.000005147	+0.231%	$47.5M	$713.2M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0526%	1h	0.000005158	+0.445%	$74K	$127K	25x	as long as short
BloFin PEPE-USDT	+0.0549%	8h	0.000005159	+0.465%	$4.3M	$29.3M	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0550%	8h	0.000005158	+0.443%	$6K	—	20x	as long as short
Lighter 1000PEPE	+0.0592%	1h	0.000005165	+0.582%	$623K	$9.1M	10x	as long as short
Phemex u1000PEPEUSDT	+0.0611%	8h	0.000005163	+0.539%	$2.4M	$7.9M	50x	as long as short
Nado kPEPE-PERP	+0.0645%	1h	0.000005156	+0.412%	$160K	$951K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0660%	1h	0.000005160	+0.482%	$67K	$842K	15x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0680%	1h	0.000005157	+0.426%	$694K	$38.1M	50x	as long as short
01 Exchange kPEPEUSD	+0.0688%	1h	0.000005163	+0.543%	$623	$3K	10x	as long as short
BingX 1000PEPE-USDC	+0.0762%	8h	0.000005158	+0.455%	—	$2.3M	—	as long as short
ApeX Omni 1000PEPEUSDT	+0.0784%	1h	0.000005139	+0.075%	$156K	$817K	25x	as long as short
MEXC PEPE_USDT	+0.0797%	8h	0.000005162	+0.527%	$99.2M	$304.4M	300x	as long as short
Binance 1000PEPEUSDT	+0.0798%	8h	0.000005151	+0.302%	$143.2M	$1.43B	75x	as long as short
Extended 1000PEPE-USD	+0.0800%	1h	0.000005160	+0.484%	$547K	$281K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0800%	1h	0.000005162	+0.523%	$146K	—	3x	as long as short
Kraken Futures PF_PEPEUSD	+0.0828%	1h	0.000005158	+0.449%	$4.7M	$16.7M	50x	as long as short
Aster 1000PEPEUSDT	+0.0833%	8h	0.000005155	+0.385%	$1.9M	$11.4M	50x	as long as short
Hyperliquid kPEPE	+0.1026%	1h	0.000005160	+0.484%	$54.9M	$153.5M	10x	as long as short
GMX PEPE/USD [ETH-USDC]short	L +0.1132% / S −0.2351%	1h	0.000005000	−2.631%	$63K	—	100x
Injective PEPE/USDC PERP	+0.1379%	1h	0.000005158	+0.445%	$10K	$119K	12x	as long as short