Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0403%/8h= +44.1% APRpaid last 24h −0.067%

Price spread now: Binance against GMX+19.849%7-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 Binance

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 +$12 a day on $10k at the current rate, and Binance is 19.849% dearer against GMX than usual: you sell high and buy low: +$1,985 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	GMX PEPE/USD [ETH-USDC]	0.000004000	L +0.0334% / S −0.0361%	pay 0.0042% / 1h	5m 27s	$42K	—	100x
Short	Binance 1000PEPEUSDT	0.000004794	0.0737	get 0.0737% / 8h	1h 05m	$130.6M	$1.04B	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +19.849%Rate

Funding earned: $84.6
Price spread: +19.849% → 0.000%: $1,984.92
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: $2,047.52
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Binance: live order book, 9 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 Binance live order book, 9 min ago	0.10 bp	6.8 bp −$7	13.0 bp −$130	37.4 bp −$3,740	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
dYdX PEPE-USD	0.0000%	1h	0.000004779	+19.483%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004788	+19.690%	$14K	—	150x	as long as short
Lighter 1000PEPE	+0.0096%	1h	0.000004787	+19.675%	$668K	$6.0M	10x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004789	+19.725%	$63.4M	$84.0M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004784	+19.600%	$59K	$114K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004786	+19.658%	$87.1M	$283.5M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004781	+19.525%	$150.0M	$63.6M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004788	+19.688%	$24.7M	$54.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004794	+19.846%	$543K	$4.0M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004783	+19.568%	$27K	$345K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004795	+19.880%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004785	+19.625%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004789	+19.735%	$541K	$3.5M	75x	as long as short
Bitget PEPEUSDT	+0.0103%	8h	0.000004793	+19.815%	$42.1M	$148.7M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004793	+19.837%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0220%	8h	0.000004794	+19.850%	$41.3M	$491.9M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0255%	8h	0.000004787	+19.674%	$5K	$16	20x	as long as short
Phemex u1000PEPEUSDT	+0.0333%	8h	0.000004784	+19.608%	$2.3M	$6.4M	50x	as long as short
GMX PEPE/USD [ETH-USDC]long	L +0.0334% / S −0.0361%	1h	0.000004000	long leg	$42K	—	100x
BloFin PEPE-USDT	+0.0343%	8h	0.000004784	+19.600%	$3.9M	$22.1M	75x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0373%	1h	0.000004779	+19.475%	$101K	$764K	25x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0377%	1h	0.000004788	+19.700%	$81K	$94K	25x	as long as short
01 Exchange kPEPEUSD	+0.0400%	1h	0.000004787	+19.675%	$548	$2K	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0448%	1h	0.000004788	+19.700%	$578K	$25.4M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0448%	8h	0.000004790	+19.745%	$29K	$11K	20x	as long as short
Backpack kPEPE_USDC_PERP	+0.0583%	1h	0.000004786	+19.640%	$92K	$615K	15x	as long as short
BingX 1000PEPE-USDC	+0.0722%	8h	0.000004784	+19.610%	—	$2.3M	—	as long as short
Extended 1000PEPE-USD	+0.0736%	1h	0.000004788	+19.706%	$526K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0736%	1h	0.000004791	+19.775%	$135K	—	3x	as long as short
MEXC PEPE_USDT	+0.0737%	8h	0.000004793	+19.823%	$92.2M	$286.4M	300x	as long as short
Binance 1000PEPEUSDTshort	+0.0737%	8h	0.000004794	+19.849%	$130.6M	$1.04B	75x
Aster 1000PEPEUSDT	+0.0746%	8h	0.000004787	+19.681%	$1.5M	$7.2M	50x	as long as short
Nado kPEPE-PERP	+0.0747%	1h	0.000004793	+19.837%	$184K	$845K	10x	as long as short
Injective PEPE/USDC PERP	+0.0873%	1h	0.000004783	+19.575%	$4K	$103K	12x	as long as short
Kraken Futures PF_PEPEUSD	+0.1333%	1h	0.000004785	+19.625%	$3.9M	$13.3M	50x	as long as short