Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0668%/8h= −73.1% APRpaid last 24h −0.055%

Price spread now: Gate against Extended−0.258%7-day average +0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$390.392% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.086%−$9 on $10k

Price spread, last 4 days (all we have)+0.443%+$44 · spread now −0.258%, 7d avg +0.017%

Together, before fees+0.357%+ Points / potential airdropExtended: Active · farm board+$36 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and Gate is 0.274% cheaper against Extended than usual: you would sell low and buy high (−$27 if the spread goes back to its 7-day average of +0.017%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.086% in total (about -4.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended 1000PEPE-USD	0.000004801	0.0768	pay 0.0096% / 1h	16m 43s	$526K	$148K	25x
Short	Gate PEPE_USDT	0.000004789	0.0100	get 0.0100% / 8h	1h 16m	$149.8M	$63.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Extended. 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 ExtendedbpFee GatebpOrdersPrice spread, now −0.258%Rate

Funding earned: −$140.28
Price spread: −0.258% → +0.017%: −$27.44
Slippage, 4 orders: −$19.15
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$206.87
Costs to cover: 0.392%
Break-even: never at this rate

Slippage from Extended: live order book, 1 min ago; Gate: live order book, 2 min ago.

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 Extended live order book, 1 min ago	3.13 bp	7.7 bp −$8	45.0 bp −$450	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	1.04 bp	12.1 bp −$12	19.1 bp −$191	76.0 bp −$7,603	doesn't fit

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	0.000004786	−0.317%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004778	−0.485%	$14K	—	150x	as long as short
Lighter 1000PEPE	+0.0096%	1h	0.000004784	−0.362%	$660K	$5.9M	10x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004782	−0.403%	$61.7M	$81.8M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004789	−0.258%	$59K	$114K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004793	−0.170%	$86.5M	$282.2M	50x	as long as short
Gate PEPE_USDTshort	+0.0100%	8h	0.000004789	−0.258%	$149.8M	$63.2M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004791	−0.212%	$24.7M	$54.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004812	+0.219%	$543K	$4.0M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004816	+0.298%	$27K	$344K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004789	−0.258%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004782	−0.403%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004783	−0.389%	$540K	$3.5M	75x	as long as short
Bitget PEPEUSDT	+0.0122%	8h	0.000004798	−0.068%	$42.1M	$148.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004778	−0.476%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0217%	8h	0.000004802	+0.013%	$41.4M	$491.2M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0291%	8h	0.000004786	−0.311%	$5K	$16	20x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0319% / S −0.0340%	1h	0.000004000	−16.690%	$43K	—	100x	as long as short
BloFin PEPE-USDT	+0.0328%	8h	0.000004783	−0.382%	$3.9M	$22.1M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0354%	8h	0.000004782	−0.410%	$2.3M	$6.4M	50x	as long as short
01 Exchange kPEPEUSD	+0.0408%	1h	0.000004784	−0.362%	$548	$2K	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0448%	1h	0.000004783	−0.382%	$579K	$25.4M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0450%	8h	0.000004780	−0.437%	$29K	$11K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0542%	1h	0.000004816	+0.305%	$102K	$764K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0557%	1h	0.000004780	−0.441%	$92K	$614K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0587%	1h	0.000004782	−0.403%	$81K	$94K	25x	as long as short
BingX 1000PEPE-USDT	+0.0749%	8h	0.000004798	−0.060%	—	$256.4M	—	as long as short
Binance 1000PEPEUSDT	+0.0766%	8h	0.000004794	−0.162%	$130.1M	$1.04B	75x	as long as short
Nado kPEPE-PERP	+0.0768%	1h	0.000004783	−0.388%	$184K	$845K	10x	as long as short
Extended 1000PEPE-USDlong	+0.0768%	1h	0.000004801	long leg	$526K	$148K	25x
Aevo 1000PEPE-PERP	+0.0768%	1h	0.000004784	−0.362%	$135K	—	3x	as long as short
MEXC PEPE_USDT	+0.0770%	8h	0.000004794	−0.145%	$90.9M	$285.4M	300x	as long as short
Aster 1000PEPEUSDT	+0.0780%	8h	0.000004782	−0.413%	$1.5M	$7.1M	50x	as long as short
Injective PEPE/USDC PERP	+0.0873%	1h	0.000004798	−0.070%	$4K	$103K	12x	as long as short
Kraken Futures PF_PEPEUSD	+0.1335%	1h	0.000004779	−0.475%	$3.9M	$13.3M	50x	as long as short