Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.2149%/8h= +235.3% APRpaid last 24h +0.125%

Price spread now: GMX against HTX−3.221%7-day average — · you buy dearer than you sell

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

Long on HTX Short on GMX

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

Funding pays, the price is against you. GMX is 3.221% cheaper against HTX than usual: you would sell low and buy high (spread −3.221% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$322 on $10k: about 5.0 days of funding at the current rate (+$64 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX PEPE-USDT	0.000005166	0.0100	pay 0.0100% / 8h	59m 18s	$600K	$4.2M	75x
Short	GMX PEPE/USD [ETH-USDC]	0.000005000	L +0.1133% / S −0.2249%	get 0.0281% / 1h	59m 18s	$64K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against HTX. 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 HTXbpFee GMXbpOrdersPrice spread, now −3.221%Rate

Funding earned: $451.31
Price spread: −3.221% → 0.000%: −$322.08
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $105.23
Costs to cover: 0.240%
Break-even: 5.4 days

Slippage unknown: HTX: live order book, 5 min ago; GMX: no order-book sample. 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 HTX live order book, 5 min ago	7.34 bp	13.5 bp −$14	29.9 bp −$299	92.5 bp −$9,249	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	0.000005164	−0.055%	$19K	$546	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005159	−0.139%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005168	+0.031%	$60K	$182K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005161	−0.105%	$100.9M	$422.2M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005161	−0.105%	$164.2M	$97.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005174	+0.139%	$606K	$5.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005163	−0.061%	$28K	$545K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005172	+0.112%	$1K	$2.7M	20x	as long as short
HTX PEPE-USDTlong	+0.0100%	8h	0.000005166	long leg	$600K	$4.2M	75x
KuCoin PEPEUSDTM	+0.0112%	8h	0.000005167	+0.004%	$26.5M	$72.7M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX 1000PEPE-USD	+0.0176%	1h	0.000005166	−0.008%	$2K	$11K	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005164	−0.045%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0284%	8h	0.000005166	−0.014%	$46.3M	$216.7M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0399%	8h	0.000005164	−0.046%	$47.7M	$738.1M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0402%	8h	0.000005167	+0.019%	$34K	$26K	20x	as long as short
Injective PEPE/USDC PERP	+0.0404%	1h	0.000005172	+0.108%	$9K	$120K	12x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0452%	1h	0.000005161	−0.105%	$150K	$830K	25x	as long as short
Nado kPEPE-PERP	+0.0470%	1h	0.000005165	−0.034%	$165K	$954K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0475%	1h	0.000005172	+0.103%	$76K	$867K	15x	as long as short
Phemex u1000PEPEUSDT	+0.0520%	8h	0.000005167	+0.008%	$2.4M	$8.1M	50x	as long as short
BloFin PEPE-USDT	+0.0521%	8h	0.000005164	−0.046%	$4.4M	$30.0M	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0523%	8h	0.000005170	+0.061%	$6K	—	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0544%	1h	0.000005171	+0.089%	$697K	$39.1M	50x	as long as short
01 Exchange kPEPEUSD	+0.0696%	1h	0.000005170	+0.070%	$624	$3K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0710%	1h	0.000005165	−0.035%	$4.7M	$16.5M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0719%	1h	0.000005167	+0.012%	$74K	$127K	25x	as long as short
BingX 1000PEPE-USDT	+0.0721%	8h	0.000005166	−0.012%	—	$218.2M	—	as long as short
Lighter 1000PEPE	+0.0736%	1h	0.000005169	+0.050%	$617K	$9.0M	10x	as long as short
Aster 1000PEPEUSDT	+0.0747%	8h	0.000005167	+0.008%	$1.8M	$11.7M	50x	as long as short
MEXC PEPE_USDT	+0.0757%	8h	0.000005165	−0.017%	$100.8M	$302.1M	300x	as long as short
Binance 1000PEPEUSDT	+0.0758%	8h	0.000005165	−0.021%	$141.8M	$1.47B	75x	as long as short
Extended 1000PEPE-USD	+0.0760%	1h	0.000005166	−0.014%	$542K	$286K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0760%	1h	0.000005168	+0.031%	$146K	—	3x	as long as short
Hyperliquid kPEPE	+0.0895%	1h	0.000005169	+0.050%	$53.7M	$157.0M	10x	as long as short
GMX PEPE/USD [ETH-USDC]short	L +0.1133% / S −0.2249%	1h	0.000005000	−3.221%	$64K	—	100x