Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0616%/8h= −67.5% APRpaid last 24h −0.043%

Price spread now: BloFin against GMX+2.040%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 BloFin

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. BloFin is 2.040% dearer against GMX than usual: you sell high and buy low (spread +2.040% now, against zero (this spread has no 7-day history yet)): +$204 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX PEPE/USD [ETH-USDC]	0.000005000	L +0.1130% / S −0.2249%	pay 0.0141% / 1h	14m 57s	$63K	—	100x
Short	BloFin PEPE-USDT	0.000005102	0.0514	get 0.0514% / 8h	1h 14m	$4.4M	$29.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +2.040%Rate

Funding earned: −$129.42
Price spread: +2.040% → 0.000%: $204
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: $50.58
Costs to cover: 0.240%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; BloFin: 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 BloFin live order book, 9 min ago	1.97 bp	8.0 bp −$8	9.4 bp −$94	22.7 bp −$2,267	60.6 bp −$30.3K

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	0.000005108	+2.160%	$9K	$120K	12x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000005093	+1.870%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005088	+1.756%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005099	+1.980%	$59K	$181K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005099	+1.972%	$99.5M	$419.9M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005096	+1.920%	$162.2M	$97.4M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005100	+2.002%	$25.9M	$72.5M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005097	+1.932%	$597K	$5.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005100	+1.993%	$28K	$544K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005104	+2.074%	$2K	$2.7M	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	0.000005097	+1.930%	$591K	$4.2M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0135%	1h	0.000005096	+1.920%	$2K	$11K	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005096	+1.928%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0285%	8h	0.000005103	+2.064%	$45.7M	$216.0M	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0339%	1h	0.000005093	+1.860%	$73K	$127K	25x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0370%	1h	0.000005102	+2.040%	$149K	$829K	25x	as long as short
OKX PEPE-USDT-SWAP	+0.0394%	8h	0.000005100	+2.000%	$47.1M	$725.1M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0394%	8h	0.000005091	+1.830%	$34K	$26K	20x	as long as short
Backpack kPEPE_USDC_PERP	+0.0426%	1h	0.000005101	+2.026%	$74K	$860K	15x	as long as short
Kraken Futures PF_PEPEUSD	+0.0458%	1h	0.000005095	+1.892%	$4.6M	$16.5M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0505%	8h	0.000005096	+1.921%	$6K	—	20x	as long as short
BloFin PEPE-USDTshort	+0.0514%	8h	0.000005102	+2.040%	$4.4M	$29.4M	75x
Phemex u1000PEPEUSDT	+0.0539%	8h	0.000005094	+1.874%	$2.4M	$8.0M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0624%	1h	0.000005099	+1.980%	$680K	$38.5M	50x	as long as short
01 Exchange kPEPEUSD	+0.0672%	1h	0.000005102	+2.040%	$615	$3K	10x	as long as short
Lighter 1000PEPE	+0.0688%	1h	0.000005099	+1.980%	$607K	$9.1M	10x	as long as short
BingX 1000PEPE-USDT	+0.0731%	8h	0.000005098	+1.964%	—	$217.9M	—	as long as short
Nado kPEPE-PERP	+0.0752%	1h	0.000005096	+1.920%	$164K	$959K	10x	as long as short
Aster 1000PEPEUSDT	+0.0755%	8h	0.000005097	+1.944%	$1.7M	$11.7M	50x	as long as short
Extended 1000PEPE-USD	+0.0760%	1h	0.000005100	+1.996%	$541K	$280K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0760%	1h	0.000005109	+2.180%	$144K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0761%	8h	0.000005098	+1.959%	$140.2M	$1.47B	75x	as long as short
MEXC PEPE_USDT	+0.0763%	8h	0.000005095	+1.910%	$98.6M	$305.8M	300x	as long as short
Hyperliquid kPEPE	+0.0938%	1h	0.000005107	+2.140%	$52.8M	$156.6M	10x	as long as short
GMX PEPE/USD [ETH-USDC]long	L +0.1130% / S −0.2249%	1h	0.000005000	long leg	$63K	—	100x