Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0691%/8h= +75.6% APRpaid last 24h +0.042%

Price spread now: GMX against OKX−1.010%7-day average — · you buy dearer than you sell

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

Long on OKX 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 1.010% cheaper against OKX than usual: you would sell low and buy high (spread −1.010% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$101 on $10k: about 4.9 days of funding at the current rate (+$21 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PEPE-USDT-SWAP	0.000005051	0.0351	pay 0.0351% / 8h	5h 03m	$45.8M	$591.9M	50x
Short	GMX PEPE/USD [ETH-USDC]	0.000005000	L +0.0647% / S −0.1042%	get 0.0130% / 1h	3m 56s	$49K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. 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 OKXbpFee GMXbpOrdersPrice spread, now −1.010%Rate

Funding earned: $145.05
Price spread: −1.010% → 0.000%: −$100.97
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $22.08
Costs to cover: 0.220%
Break-even: 5.9 days

Slippage unknown: OKX: 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 OKX live order book, 5 min ago	1.00 bp	8.9 bp −$9	13.4 bp −$134	41.3 bp −$4,135	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	0.000005041	−0.197%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005035	−0.321%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005045	−0.119%	$64K	$139K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005050	−0.020%	$98.7M	$342.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005042	−0.178%	$165.7M	$75.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005052	+0.018%	$26.0M	$63.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005009	−0.841%	$672K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005016	−0.685%	$27K	$445K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005048	−0.063%	$2K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005036	−0.299%	$573K	$3.6M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PEPEUSDT	+0.0140%	8h	0.000005051	+0.004%	$46.2M	$173.3M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005038	−0.255%	$8K	—	15x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0320%	8h	0.000005042	−0.174%	$33K	$24K	20x	as long as short
OKX PEPE-USDT-SWAPlong	+0.0351%	8h	0.000005051	long leg	$45.8M	$591.9M	50x
BloFin PEPE-USDT	+0.0468%	8h	0.000005036	−0.297%	$4.3M	$25.2M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0500%	1h	0.000005042	−0.178%	$2K	$12K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0530%	1h	0.000005007	−0.871%	$99K	$750K	25x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0545%	1h	0.000005038	−0.257%	$71K	$124K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0576%	1h	0.000005042	−0.178%	$935K	$31.6M	50x	as long as short
BingX 1000PEPE-USDT	+0.0611%	8h	0.000005045	−0.113%	—	$261.3M	—	as long as short
GMX PEPE/USD [ETH-USDC]short	L +0.0647% / S −0.1042%	1h	0.000005000	−1.010%	$49K	—	100x
Extended 1000PEPE-USD	+0.0648%	1h	0.000005052	+0.013%	$533K	$226K	25x	as long as short
MEXC PEPE_USDT	+0.0648%	8h	0.000005048	−0.051%	$94.9M	$290.8M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0648%	1h	0.000005036	−0.297%	$142K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0648%	8h	0.000005054	+0.053%	$141.5M	$1.21B	75x	as long as short
Phemex u1000PEPEUSDT	+0.0728%	8h	0.000005045	−0.129%	$2.4M	$7.1M	50x	as long as short
Aster 1000PEPEUSDT	+0.0744%	8h	0.000005043	−0.159%	$1.8M	$9.2M	50x	as long as short
Nado kPEPE-PERP	+0.0761%	1h	0.000005038	−0.254%	$186K	$871K	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0783%	8h	0.000005048	−0.068%	$6K	—	20x	as long as short
Backpack kPEPE_USDC_PERP	+0.0953%	1h	0.000005045	−0.117%	$93K	$631K	15x	as long as short
01 Exchange kPEPEUSD	+0.0960%	1h	0.000005052	+0.020%	$609	$3K	10x	as long as short
Injective PEPE/USDC PERP	+0.0973%	1h	0.000005021	−0.594%	$3K	$102K	12x	as long as short
Lighter 1000PEPE	+0.1176%	1h	0.000005045	−0.119%	$658K	$8.1M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1381%	1h	0.000005040	−0.219%	$4.3M	$15.3M	50x	as long as short
Hyperliquid kPEPE	+0.1563%	1h	0.000005052	+0.020%	$54.0M	$139.6M	10x	as long as short