Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0927%/8h= +101.5% APRpaid last 24h +0.055%

Price spread now: GMX against Gate−0.220%7-day average — · you buy dearer than you sell

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

Long on Gate 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—needs both histories

Funding pays, the price is against you. GMX is 0.220% cheaper against Gate than usual: you would sell low and buy high (spread −0.220% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$22 on $10k: about 19 hours of funding at the current rate (+$28 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PEPE_USDT	0.000005011	0.0100	pay 0.0100% / 8h	5h 07m	$164.5M	$75.7M	75x
Short	GMX PEPE/USD [ETH-USDC]	0.000005000	L +0.0639% / S −0.1027%	get 0.0128% / 1h	7m 03s	$49K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.220%Rate

Funding earned: $194.64
Price spread: −0.220% → 0.000%: −$21.95
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: $145.69
Costs to cover: 0.270%
Break-even: 1.8 days

Slippage unknown: Gate: live order book, 2 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 Gate live order book, 2 min ago	1.00 bp	16.0 bp −$16	22.5 bp −$225	82.0 bp −$8,198	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	0.000005014	+0.060%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005010	−0.026%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005015	+0.080%	$64K	$139K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005005	−0.120%	$97.5M	$341.2M	50x	as long as short
Gate PEPE_USDTlong	+0.0100%	8h	0.000005011	long leg	$164.5M	$75.7M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005005	−0.124%	$25.8M	$63.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005020	+0.170%	$681K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005010	−0.014%	$27K	$444K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005024	+0.249%	$1K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005016	+0.108%	$571K	$3.6M	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	+0.0137%	8h	0.000005006	−0.106%	$45.8M	$173.2M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005012	+0.027%	$8K	—	15x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0319%	8h	0.000005019	+0.168%	$33K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0348%	8h	0.000005008	−0.060%	$45.5M	$586.2M	50x	as long as short
BloFin PEPE-USDT	+0.0469%	8h	0.000005018	+0.140%	$4.3M	$25.1M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0502%	1h	0.000005015	+0.080%	$2K	$12K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0530%	1h	0.000005007	−0.080%	$99K	$750K	25x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0548%	1h	0.000005015	+0.080%	$71K	$124K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0576%	1h	0.000005023	+0.239%	$943K	$31.5M	50x	as long as short
BingX 1000PEPE-USDC	+0.0608%	8h	0.000005015	+0.072%	—	$2.3M	—	as long as short
GMX PEPE/USD [ETH-USDC]short	L +0.0639% / S −0.1027%	1h	0.000005000	−0.220%	$49K	—	100x
Extended 1000PEPE-USD	+0.0640%	1h	0.000005005	−0.125%	$530K	$226K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0640%	1h	0.000005008	−0.060%	$142K	—	3x	as long as short
MEXC PEPE_USDT	+0.0642%	8h	0.000005007	−0.078%	$94.1M	$290.6M	300x	as long as short
Binance 1000PEPEUSDT	+0.0643%	8h	0.000005010	−0.018%	$140.3M	$1.21B	75x	as long as short
Aster 1000PEPEUSDT	+0.0733%	8h	0.000005014	+0.058%	$1.8M	$9.2M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0741%	8h	0.000005018	+0.140%	$2.4M	$7.1M	50x	as long as short
Nado kPEPE-PERP	+0.0783%	1h	0.000005017	+0.119%	$185K	$871K	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0786%	8h	0.000005020	+0.181%	$6K	—	20x	as long as short
Backpack kPEPE_USDC_PERP	+0.0953%	1h	0.000005014	+0.064%	$93K	$631K	15x	as long as short
01 Exchange kPEPEUSD	+0.0960%	1h	0.000005028	+0.339%	$606	$3K	10x	as long as short
Injective PEPE/USDC PERP	+0.0973%	1h	0.000005011	0.000%	$4K	$102K	12x	as long as short
Lighter 1000PEPE	+0.1176%	1h	0.000005017	+0.120%	$664K	$8.1M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1388%	1h	0.000005011	+0.006%	$4.3M	$15.3M	50x	as long as short
Hyperliquid kPEPE	+0.1569%	1h	0.000005019	+0.160%	$53.6M	$139.6M	10x	as long as short