Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0376%/8h= −41.2% APRpaid last 24h −0.053%

Price spread now: MEXC against GMX+3.210%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 MEXC

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. MEXC is 3.210% dearer against GMX than usual: you sell high and buy low (spread +3.210% now, against zero (this spread has no 7-day history yet)): +$321 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 28 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 −0.1782%	pay 0.0142% / 1h	57m 36s	$69K	—	100x
Short	MEXC PEPE_USDT	0.000005160	0.0757	get 0.0757% / 8h	57m 36s	$101.0M	$302.3M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +3.210%Rate

Funding earned: −$78.99
Price spread: +3.210% → 0.000%: $321
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: $230.01
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; MEXC: 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 MEXC live order book, 2 min ago	0.39 bp	1.1 bp −$1	7.4 bp −$74	44.4 bp −$4,440	80.2 bp −$40.1K

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	0.000005158	+3.159%	$19K	$649	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005169	+3.386%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005157	+3.140%	$60K	$182K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005155	+3.104%	$100.8M	$422.4M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005159	+3.180%	$164.2M	$97.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005174	+3.472%	$606K	$5.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005168	+3.365%	$28K	$543K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005177	+3.538%	$1K	$2.7M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005175	+3.498%	$601K	$4.2M	75x	as long as short
KuCoin PEPEUSDTM	+0.0112%	8h	0.000005168	+3.350%	$26.6M	$72.8M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005169	+3.381%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0284%	8h	0.000005152	+3.048%	$46.2M	$216.7M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0363%	1h	0.000005175	+3.500%	$2K	$11K	10x	as long as short
OKX PEPE-USDT-SWAP	+0.0398%	8h	0.000005158	+3.160%	$47.6M	$737.5M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0403%	8h	0.000005175	+3.502%	$34K	$26K	20x	as long as short
Injective PEPE/USDC PERP	+0.0404%	1h	0.000005172	+3.440%	$9K	$120K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0449%	1h	0.000005177	+3.540%	$76K	$868K	15x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0452%	1h	0.000005161	+3.220%	$150K	$830K	25x	as long as short
Phemex u1000PEPEUSDT	+0.0521%	8h	0.000005177	+3.542%	$2.4M	$8.1M	50x	as long as short
BloFin PEPE-USDT	+0.0521%	8h	0.000005164	+3.280%	$4.4M	$30.0M	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0527%	8h	0.000005160	+3.190%	$6K	—	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0544%	1h	0.000005176	+3.520%	$697K	$39.2M	50x	as long as short
Kraken Futures PF_PEPEUSD	+0.0709%	1h	0.000005173	+3.456%	$4.7M	$16.5M	50x	as long as short
BingX 1000PEPE-USDT	+0.0720%	8h	0.000005156	+3.114%	—	$218.1M	—	as long as short
Aster 1000PEPEUSDT	+0.0745%	8h	0.000005156	+3.130%	$1.8M	$11.8M	50x	as long as short
Nado kPEPE-PERP	+0.0752%	1h	0.000005170	+3.400%	$165K	$954K	10x	as long as short
Binance 1000PEPEUSDT	+0.0757%	8h	0.000005159	+3.171%	$141.6M	$1.47B	75x	as long as short
MEXC PEPE_USDTshort	+0.0757%	8h	0.000005160	+3.210%	$101.0M	$302.3M	300x
Extended 1000PEPE-USD	+0.0760%	1h	0.000005153	+3.065%	$542K	$286K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0760%	1h	0.000005175	+3.500%	$146K	—	3x	as long as short
01 Exchange kPEPEUSD	+0.0808%	1h	0.000005159	+3.180%	$622	$2K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0911%	1h	0.000005174	+3.480%	$74K	$127K	25x	as long as short
Lighter 1000PEPE	+0.0944%	1h	0.000005165	+3.300%	$617K	$9.0M	10x	as long as short
Hyperliquid kPEPE	+0.0980%	1h	0.000005168	+3.360%	$53.7M	$157.0M	10x	as long as short
GMX PEPE/USD [ETH-USDC]long	L +0.1133% / S −0.1782%	1h	0.000005000	long leg	$69K	—	100x