Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0094%/8h= +10.3% APRpaid last 24h +0.028%

Price spread now: HTX against gTrade (Gains Network)+0.131%51s7-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 HTX

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 +$3 a day on $10k at the current rate, and HTX is 0.131% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$13 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PEPE/USD	0.000004721	L +0.0006% / S −0.0006%	pay 0.0001% / 1h	13m 24s	$14K	—	150x
Short	HTX PEPE-USDT	0.000004727	0.0100	get 0.0100% / 8h	13m 24s	$533K	$3.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.131%Rate

Funding earned: $19.81
Price spread: +0.131% → 0.000%: $13.13
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: $10.94
Costs to cover: 0.220%
Break-even: 3.1 days

Slippage unknown: gTrade (Gains Network): no order-book sample; HTX: live order book, 5 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 HTX live order book, 5 min ago	4.53 bp	11.7 bp −$12	18.0 bp −$180	93.2 bp −$9,321	doesn't fit

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	−0.0289%	1h	0.000004713	−0.174%	$68.6M	$96.0M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004721	−0.002%	$17K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USDlong	L +0.0006% / S −0.0006%	1h	0.000004721	long leg	$14K	—	150x
Kraken Futures PF_PEPEUSD	+0.0067%	1h	0.000004725	+0.079%	$3.8M	$13.8M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004724	+0.059%	$55K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004720	−0.015%	$86.4M	$293.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004724	+0.059%	$149.0M	$64.9M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004725	+0.076%	$24.0M	$54.6M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004724	+0.053%	$41.8M	$150.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004736	+0.310%	$570K	$4.2M	—	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	0.000004732	+0.221%	$25K	$352K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004730	+0.186%	$99K	$755K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004736	+0.322%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004728	+0.144%	$2K	$12K	10x	as long as short
HTX PEPE-USDTshort	+0.0100%	8h	0.000004727	+0.131%	$533K	$3.5M	75x
Lighter 1000PEPE	+0.0144%	1h	0.000004730	+0.186%	$575K	$6.5M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0173%	8h	0.000004725	+0.085%	$5K	$16	20x	as long as short
Phemex u1000PEPEUSDT	+0.0188%	8h	0.000004725	+0.083%	$2.3M	$6.5M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004723	+0.035%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0204%	8h	0.000004724	+0.059%	$41.5M	$493.3M	50x	as long as short
01 Exchange kPEPEUSD	+0.0296%	1h	0.000004725	+0.080%	$541	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0323%	8h	0.000004725	+0.080%	$3.8M	$22.2M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0361%	8h	0.000004731	+0.199%	$29K	$13K	20x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0387% / S −0.0312%	1h	0.000004000	−15.276%	$49K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004736	+0.313%	$581K	$25.4M	50x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004748	+0.568%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0546%	1h	0.000004727	+0.116%	$90K	$601K	15x	as long as short
BingX 1000PEPE-USDT	+0.0561%	8h	0.000004724	+0.055%	—	$257.2M	—	as long as short
Aster 1000PEPEUSDT	+0.0572%	8h	0.000004725	+0.073%	$1.5M	$7.3M	50x	as long as short
Binance 1000PEPEUSDT	+0.0578%	8h	0.000004725	+0.089%	$131.7M	$1.07B	75x	as long as short
MEXC PEPE_USDT	+0.0581%	8h	0.000004728	+0.153%	$88.0M	$282.5M	300x	as long as short
Extended 1000PEPE-USD	+0.0584%	1h	0.000004723	+0.048%	$521K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0584%	1h	0.000004727	+0.123%	$134K	—	3x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0597%	1h	0.000004728	+0.144%	$76K	$98K	25x	as long as short
Nado kPEPE-PERP	+0.0632%	1h	0.000004722	+0.025%	$178K	$850K	10x	as long as short