Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.013%

Price spread now: edgeX against Gate+0.310%82s7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$390.391% of the position

Long on Gate Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.091%+$9 on $10k

Price spread, last 4 days (all we have)−0.159%−$16 · spread now +0.310%, 7d avg +0.027%

Together, before fees−0.068%+ Points / potential airdropedgeX: Active · farm board−$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: edgeX is 0.283% dearer against Gate than usual: you sell high and buy low, +$28 on $10k if it goes back to its 7-day average of +0.027%. The two prices were read 82 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	Gate PEPE_USDT	0.000004988	0.0100	pay 0.0100% / 8h	2h 30m	$160.9M	$93.9M	75x
Short	edgeX 1000PEPEUSDC	0.000005003	0.0100	get 0.0050% / 4h	2h 30m	$27K	$538K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Gate. 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 GatebpFee edgeXbpOrdersPrice spread, now +0.310%Rate

Funding earned: $0
Price spread: +0.310% → +0.027%: $28.33
Slippage, 4 orders: −$15.05
Fee Gate: 7.5 bp × 2 orders: −$15
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$10.72
Costs to cover: 0.391%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; edgeX: live order book, 19 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 Gate live order book, 4 min ago	3.00 bp	12.4 bp −$12	17.1 bp −$171	54.4 bp −$5,442	doesn't fit
Sell edgeX live order book, 19 min ago	0.99 bp	5.6 bp −$6	8.6 bp −$86	doesn't fit	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	0.000004992	+0.074%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0001%	1h	0.000004989	+0.016%	$6K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004997	+0.180%	$57K	$177K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004988	0.000%	$98.0M	$403.9M	50x	as long as short
Gate PEPE_USDTlong	+0.0100%	8h	0.000004988	long leg	$160.9M	$93.9M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004994	+0.116%	$24.9M	$70.8M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005001	+0.255%	$599K	$5.4M	—	as long as short
edgeX 1000PEPEUSDCshort	+0.0100%	4h	0.000005003	+0.310%	$27K	$538K	20x
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004999	+0.229%	$2K	$2.6M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005002	+0.279%	$560K	$4.1M	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	+0.0178%	1h	0.000004994	+0.120%	$2K	$10K	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004996	+0.165%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0336%	8h	0.000004990	+0.046%	$44.9M	$209.5M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0403%	8h	0.000004992	+0.082%	$33K	$26K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0418%	8h	0.000004994	+0.120%	$46.2M	$681.5M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0539%	8h	0.000005000	+0.235%	$6K	—	20x	as long as short
BloFin PEPE-USDT	+0.0544%	8h	0.000005006	+0.361%	$4.4M	$27.9M	75x	as long as short
Backpack kPEPE_USDC_PERP	+0.0623%	1h	0.000004992	+0.070%	$73K	$830K	15x	as long as short
Phemex u1000PEPEUSDT	+0.0627%	8h	0.000004992	+0.086%	$2.4M	$7.9M	50x	as long as short
Lighter 1000PEPE	+0.0640%	1h	0.000004998	+0.200%	$593K	$9.0M	10x	as long as short
01 Exchange kPEPEUSD	+0.0640%	1h	0.000004998	+0.200%	$603	$3K	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0680%	1h	0.000004999	+0.221%	$635K	$36.7M	50x	as long as short
Nado kPEPE-PERP	+0.0745%	1h	0.000004994	+0.127%	$165K	$942K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0753%	1h	0.000004992	+0.080%	$71K	$127K	25x	as long as short
BingX 1000PEPE-USDC	+0.0762%	8h	0.000004995	+0.140%	—	$2.3M	—	as long as short
ApeX Omni 1000PEPEUSDT	+0.0764%	1h	0.000005005	+0.341%	$154K	$813K	25x	as long as short
Binance 1000PEPEUSDT	+0.0790%	8h	0.000004993	+0.094%	$140.0M	$1.41B	75x	as long as short
Extended 1000PEPE-USD	+0.0792%	1h	0.000004993	+0.091%	$530K	$277K	25x	as long as short
MEXC PEPE_USDT	+0.0792%	8h	0.000004988	+0.002%	$95.7M	$301.4M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0792%	1h	0.000004992	+0.080%	$141K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0844%	8h	0.000004992	+0.084%	$1.7M	$11.2M	50x	as long as short
Kraken Futures PF_PEPEUSD	+0.0856%	1h	0.000004991	+0.061%	$4.6M	$16.7M	50x	as long as short
Hyperliquid kPEPE	+0.1003%	1h	0.000004997	+0.180%	$52.6M	$152.0M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1112% / S −0.2084%	1h	0.000004000	−19.808%	$63K	—	100x	as long as short
Injective PEPE/USDC PERP	+0.1379%	1h	0.000005034	+0.922%	$3K	$111K	12x	as long as short