Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0641%/8h= +70.2% APRpaid last 24h +0.072%

Price spread now: BingX against gTrade (Gains Network)+0.343%7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on BingX

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

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and BingX is 0.343% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$34 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PEPE/USD	0.000005096	L +0.0006% / S −0.0006%	pay 0.0001% / 1h	38m 56s	$15K	—	150x
Short	BingX 1000PEPE-USDT	0.000005114	0.0647	get 0.0647% / 8h	4h 38m	—	$261.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BingXbpOrdersPrice spread, now +0.343%Rate

Funding earned: $134.68
Price spread: +0.343% → 0.000%: $34.34
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: $149.02
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: gTrade (Gains Network): no order-book sample; BingX: live order book, 15 min ago. 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell BingX live order book, 15 min ago	0.10 bp	6.6 bp −$7	8.8 bp −$88	14.6 bp −$1,460	38.3 bp −$19.1K

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
dYdX PEPE-USD	0.0000%	1h	0.000005098	+0.037%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USDlong	L +0.0006% / S −0.0006%	1h	0.000005096	long leg	$15K	—	150x
Pacifica kPEPE	+0.0100%	1h	0.000005107	+0.212%	$65K	$141K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005111	+0.290%	$100.0M	$346.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005105	+0.173%	$169.6M	$76.3M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005107	+0.208%	$26.2M	$64.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005091	−0.111%	$688K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005091	−0.111%	$31K	$451K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005109	+0.251%	$2K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005114	+0.353%	$585K	$3.7M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PEPEUSDT	+0.0174%	8h	0.000005114	+0.359%	$46.6M	$175.3M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005099	+0.048%	$8K	—	15x	as long as short
Injective PEPE/USDC PERP	+0.0254%	1h	0.000005044	−1.024%	$3K	$102K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0335%	8h	0.000005101	+0.092%	$33K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0366%	8h	0.000005118	+0.428%	$46.2M	$606.8M	50x	as long as short
BloFin PEPE-USDT	+0.0488%	8h	0.000005096	−0.004%	$4.3M	$25.6M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0584%	8h	0.000005103	+0.133%	$2.4M	$7.1M	50x	as long as short
BingX 1000PEPE-USDTshort	+0.0647%	8h	0.000005114	+0.343%	—	$261.9M	—
Coinbase International 1000PEPE-PERP-INTX	+0.0672%	1h	0.000005102	+0.114%	$973K	$32.2M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0675% / S −0.0930%	1h	0.000005000	−1.888%	$46K	—	100x	as long as short
MEXC PEPE_USDT	+0.0694%	8h	0.000005112	+0.312%	$93.9M	$287.8M	300x	as long as short
Extended 1000PEPE-USD	+0.0696%	1h	0.000005106	+0.195%	$541K	$226K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0696%	1h	0.000005091	−0.102%	$144K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0699%	8h	0.000005118	+0.431%	$145.1M	$1.23B	75x	as long as short
SoDEX 1000PEPE-USD	+0.0728%	1h	0.000005100	+0.075%	$2K	$12K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0731%	1h	0.000005100	+0.075%	$72K	$124K	25x	as long as short
Nado kPEPE-PERP	+0.0788%	1h	0.000005103	+0.128%	$199K	$880K	10x	as long as short
Aster 1000PEPEUSDT	+0.0794%	8h	0.000005110	+0.268%	$1.8M	$9.3M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0804%	8h	0.000005103	+0.141%	$6K	—	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0824%	1h	0.000005099	+0.055%	$101K	$743K	25x	as long as short
Lighter 1000PEPE	+0.0912%	1h	0.000005104	+0.153%	$579K	$8.2M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0955%	1h	0.000005103	+0.128%	$98K	$655K	15x	as long as short
01 Exchange kPEPEUSD	+0.1048%	1h	0.000005119	+0.447%	$617	$3K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1278%	1h	0.000005098	+0.038%	$4.5M	$15.5M	50x	as long as short
Hyperliquid kPEPE	+0.1469%	1h	0.000005109	+0.251%	$54.8M	$140.3M	10x	as long as short