Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0715%/8h= −78.3% APRpaid last 24h −0.032%

Price spread now: gTrade (Gains Network) against Phemex−0.016%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on gTrade (Gains Network)

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$21 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex u1000PEPEUSDT	0.000005048	0.0721	pay 0.0721% / 8h	5h 03m	$2.4M	$7.1M	50x
Short	gTrade (Gains Network) PEPE/USD	0.000005047	L +0.0006% / S −0.0006%	get 0.0001% / 1h	3m 12s	$15K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Phemex. 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 PhemexbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.016%Rate

Funding earned: −$150.16
Price spread: −0.016% → 0.000%: −$1.58
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$173.74
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 6 min ago; gTrade (Gains Network): 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 Phemex live order book, 6 min ago	4.79 bp	20.1 bp −$20	35.7 bp −$357	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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	0.000005037	−0.212%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USDshort	L +0.0006% / S −0.0006%	1h	0.000005047	−0.016%	$15K	—	150x
Pacifica kPEPE	+0.0100%	1h	0.000005044	−0.073%	$64K	$139K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005046	−0.026%	$98.6M	$342.1M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005047	−0.014%	$165.8M	$75.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005054	+0.127%	$26.0M	$63.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005009	−0.776%	$672K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005029	−0.374%	$27K	$445K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005060	+0.250%	$2K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005047	−0.014%	$574K	$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	+0.069%	$46.2M	$173.3M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005054	+0.125%	$8K	—	15x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0322%	8h	0.000005054	+0.135%	$33K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0354%	8h	0.000005049	+0.026%	$45.8M	$591.7M	50x	as long as short
BloFin PEPE-USDT	+0.0471%	8h	0.000005042	−0.113%	$4.3M	$25.3M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0508%	1h	0.000005054	+0.125%	$2K	$12K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0526%	1h	0.000005028	−0.390%	$99K	$750K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0576%	1h	0.000005044	−0.073%	$931K	$31.6M	50x	as long as short
BingX 1000PEPE-USDT	+0.0612%	8h	0.000005054	+0.125%	—	$261.3M	—	as long as short
Extended 1000PEPE-USD	+0.0648%	1h	0.000005052	+0.076%	$533K	$226K	25x	as long as short
MEXC PEPE_USDT	+0.0648%	8h	0.000005056	+0.160%	$95.1M	$290.8M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0648%	1h	0.000005042	−0.113%	$143K	—	3x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0649% / S −0.1045%	1h	0.000005000	−0.945%	$49K	—	100x	as long as short
Binance 1000PEPEUSDT	+0.0651%	8h	0.000005051	+0.075%	$141.5M	$1.21B	75x	as long as short
Phemex u1000PEPEUSDTlong	+0.0721%	8h	0.000005048	long leg	$2.4M	$7.1M	50x
Deribit 1000PEPE_USDC-PERPETUAL	+0.0741%	1h	0.000005052	+0.085%	$71K	$124K	25x	as long as short
Aster 1000PEPEUSDT	+0.0748%	8h	0.000005050	+0.038%	$1.8M	$9.2M	50x	as long as short
Nado kPEPE-PERP	+0.0760%	1h	0.000005052	+0.084%	$187K	$871K	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0782%	8h	0.000005040	−0.147%	$6K	—	20x	as long as short
Backpack kPEPE_USDC_PERP	+0.0953%	1h	0.000005045	−0.052%	$93K	$631K	15x	as long as short
01 Exchange kPEPEUSD	+0.0960%	1h	0.000005058	+0.204%	$610	$3K	10x	as long as short
Injective PEPE/USDC PERP	+0.0973%	1h	0.000005021	−0.529%	$3K	$102K	12x	as long as short
Lighter 1000PEPE	+0.1160%	1h	0.000005051	+0.065%	$658K	$8.1M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1378%	1h	0.000005049	+0.017%	$4.3M	$15.3M	50x	as long as short
Hyperliquid kPEPE	+0.1559%	1h	0.000005059	+0.224%	$54.0M	$139.6M	10x	as long as short