Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0384%/8h= −42.0% APRpaid last 24h −0.045%

Price spread now: BingX against GMX+3.084%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 BingX

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

The price spread pays, funding is against you. BingX is 3.084% dearer against GMX than usual: you sell high and buy low (spread +3.084% now, against zero (this spread has no 7-day history yet)): +$308 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 27 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX PEPE/USD [ETH-USDC]	0.000005000	L +0.1133% / S −0.2351%	pay 0.0142% / 1h	46m 41s	$63K	—	100x
Short	BingX 1000PEPE-USDC	0.000005154	0.0749	get 0.0749% / 8h	1h 46m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +3.084%Rate

Funding earned: −$80.55
Price spread: +3.084% → 0.000%: $308.4
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: $205.85
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; BingX: live order book, 2 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 BingX live order book, 2 min ago	1.16 bp	14.2 bp −$14	20.1 bp −$201	87.7 bp −$8,771	224.9 bp −$112.4K

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
Injective PEPE/USDC PERP	−0.0016%	1h	0.000005164	+3.280%	$10K	$119K	12x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000005147	+2.950%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005150	+3.000%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005155	+3.100%	$60K	$180K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005149	+2.980%	$101.5M	$415.2M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005146	+2.920%	$163.9M	$96.1M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005152	+3.038%	$25.9M	$72.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005155	+3.093%	$615K	$5.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005149	+2.979%	$28K	$542K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005162	+3.238%	$2K	$2.6M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005154	+3.086%	$594K	$4.2M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0117%	1h	0.000005156	+3.120%	$2K	$11K	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005154	+3.075%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0300%	8h	0.000005150	+2.990%	$46.1M	$214.3M	75x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0315%	1h	0.000005149	+2.980%	$156K	$820K	25x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0381%	8h	0.000005154	+3.076%	$34K	$26K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0417%	8h	0.000005151	+3.020%	$48.4M	$724.0M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0430%	1h	0.000005153	+3.056%	$73K	$849K	15x	as long as short
Kraken Futures PF_PEPEUSD	+0.0453%	1h	0.000005154	+3.079%	$4.7M	$16.8M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0512%	8h	0.000005157	+3.135%	$6K	—	20x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0527%	1h	0.000005153	+3.060%	$73K	$127K	25x	as long as short
BloFin PEPE-USDT	+0.0544%	8h	0.000005158	+3.160%	$4.6M	$29.6M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0575%	8h	0.000005159	+3.184%	$2.4M	$8.0M	50x	as long as short
Lighter 1000PEPE	+0.0616%	1h	0.000005154	+3.080%	$620K	$9.0M	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0624%	1h	0.000005163	+3.260%	$679K	$38.7M	50x	as long as short
01 Exchange kPEPEUSD	+0.0648%	1h	0.000005157	+3.140%	$622	$3K	10x	as long as short
Nado kPEPE-PERP	+0.0730%	1h	0.000005150	+2.993%	$163K	$956K	10x	as long as short
BingX 1000PEPE-USDCshort	+0.0749%	8h	0.000005154	+3.084%	—	$2.3M	—
Binance 1000PEPEUSDT	+0.0773%	8h	0.000005152	+3.048%	$142.3M	$1.45B	75x	as long as short
MEXC PEPE_USDT	+0.0774%	8h	0.000005150	+3.006%	$99.3M	$302.7M	300x	as long as short
Extended 1000PEPE-USD	+0.0776%	1h	0.000005145	+2.908%	$547K	$286K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0776%	1h	0.000005158	+3.160%	$146K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0787%	8h	0.000005155	+3.105%	$1.8M	$11.6M	50x	as long as short
Hyperliquid kPEPE	+0.0960%	1h	0.000005156	+3.120%	$55.1M	$154.6M	10x	as long as short
GMX PEPE/USD [ETH-USDC]long	L +0.1133% / S −0.2351%	1h	0.000005000	long leg	$63K	—	100x