Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0206%/8h= +22.5% APRpaid last 24h +0.009%

Price spread now: Aster against GMX+18.325%51s7-day average — · you sell dearer than you buy

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

Long on GMX Short on Aster

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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Aster is 18.325% dearer against GMX than usual: you sell high and buy low: +$1,832 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	GMX PEPE/USD [ETH-USDC]	0.000004000	L +0.0384% / S −0.0441%	pay 0.0048% / 1h	20m 37s	$42K	—	100x
Short	Aster 1000PEPEUSDT	0.000004733	0.0590	get 0.0590% / 8h	20m 37s	$1.5M	$7.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against GMX. 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 GMXbpFee AsterbpOrdersPrice spread, now +18.325%Rate

Funding earned: $43.21
Price spread: +18.325% → 0.000%: $1,832.48
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: $1,855.68
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Aster: live order book, 3 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 GMX no order-book sample	—	—	—	—	—
Sell Aster live order book, 3 min ago	1.37 bp	6.8 bp −$7	9.1 bp −$91	doesn't fit	doesn't fit

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
Hyperliquid kPEPE	−0.0220%	1h	0.000004725	+18.125%	$67.7M	$94.5M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004729	+18.231%	$17K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000004726	+18.155%	$13K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0067%	1h	0.000004725	+18.117%	$3.8M	$13.7M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004728	+18.200%	$59K	$116K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004730	+18.255%	$86.0M	$292.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004730	+18.250%	$149.1M	$64.7M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004733	+18.322%	$24.1M	$54.6M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004732	+18.298%	$41.8M	$150.4M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004733	+18.322%	$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	0.000004744	+18.610%	$25K	$350K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004745	+18.625%	$99K	$755K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004742	+18.560%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004728	+18.200%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004733	+18.335%	$534K	$3.5M	75x	as long as short
Lighter 1000PEPE	+0.0120%	1h	0.000004735	+18.375%	$607K	$6.5M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0175%	8h	0.000004727	+18.176%	$5K	$16	20x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004734	+18.340%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0202%	8h	0.000004733	+18.325%	$41.0M	$493.3M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0203%	8h	0.000004726	+18.162%	$2.3M	$6.5M	50x	as long as short
01 Exchange kPEPEUSD	+0.0272%	1h	0.000004735	+18.375%	$542	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0321%	8h	0.000004731	+18.275%	$3.9M	$22.2M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0376%	8h	0.000004728	+18.195%	$29K	$13K	20x	as long as short
GMX PEPE/USD [ETH-USDC]long	L +0.0384% / S −0.0441%	1h	0.000004000	long leg	$42K	—	100x
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004732	+18.300%	$578K	$25.4M	50x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004756	+18.900%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0562%	1h	0.000004730	+18.255%	$90K	$602K	15x	as long as short
BingX 1000PEPE-USDC	+0.0582%	8h	0.000004733	+18.318%	—	$2.3M	—	as long as short
Aster 1000PEPEUSDTshort	+0.0590%	8h	0.000004733	+18.325%	$1.5M	$7.3M	50x
Binance 1000PEPEUSDT	+0.0594%	8h	0.000004733	+18.338%	$130.9M	$1.07B	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0597%	1h	0.000004728	+18.200%	$76K	$98K	25x	as long as short
MEXC PEPE_USDT	+0.0597%	8h	0.000004731	+18.285%	$88.0M	$282.0M	300x	as long as short
Extended 1000PEPE-USD	+0.0600%	1h	0.000004733	+18.323%	$521K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0600%	1h	0.000004729	+18.225%	$134K	—	3x	as long as short
Nado kPEPE-PERP	+0.0649%	1h	0.000004733	+18.325%	$179K	$850K	10x	as long as short