Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0306%/8h= +33.5% APRpaid last 24h +0.046%

Price spread now: GMX against SunX−1.388%7-day average — · you buy dearer than you sell

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

Long on SunX 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 1.388% cheaper against SunX than usual: you would sell low and buy high (spread −1.388% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$139 on $10k: about 15 days of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX 1000PEPE-USDT	0.000005070	0.0100	pay 0.0100% / 8h	7h 03m	$1K	$2.4M	20x
Short	GMX PEPE/USD [ETH-USDC]	0.000005000	L +0.0501% / S −0.0406%	get 0.0051% / 1h	3m 49s	$63K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against SunX. 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 SunXbpFee GMXbpOrdersPrice spread, now −1.388%Rate

Funding earned: $64.25
Price spread: −1.388% → 0.000%: −$138.85
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: −$94.6
Costs to cover: 0.200%
Break-even: 17.3 days

Slippage unknown: SunX: live order book, 2 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 SunX live order book, 2 min ago	265.30 bp	doesn't fit	doesn't fit	doesn't fit	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
Kraken Futures PF_PEPEUSD	−0.0116%	1h	0.000005047	−0.465%	$4.0M	$14.3M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000005067	−0.067%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005061	−0.195%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005067	−0.067%	$60K	$120K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005017	−1.051%	$95.0M	$311.2M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005037	−0.659%	$162.3M	$69.4M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005039	−0.623%	$25.6M	$57.8M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005041	−0.578%	$44.8M	$155.8M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005053	−0.352%	$591K	$4.4M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005083	+0.253%	$46K	$386K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX 1000PEPE-USDTlong	+0.0100%	8h	0.000005070	long leg	$1K	$2.4M	20x
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000005050	−0.402%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005046	−0.471%	$568K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000005041	−0.582%	$2.4M	$6.8M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005069	−0.031%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0193%	8h	0.000005024	−0.915%	$44.9M	$545.6M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0271%	8h	0.000005064	−0.118%	$33K	$22K	20x	as long as short
Paradex kPEPE-USD-PERP	+0.0306%	8h	0.000005068	−0.040%	$6K	$16	20x	as long as short
BloFin PEPE-USDT	+0.0308%	8h	0.000005060	−0.205%	$4.2M	$24.5M	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0343%	1h	0.000005061	−0.185%	$61K	$114K	25x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0348%	1h	0.000005084	+0.268%	$111K	$753K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000005072	+0.032%	$605K	$28.4M	50x	as long as short
BingX 1000PEPE-USDT	+0.0452%	8h	0.000005025	−0.891%	—	$257.7M	—	as long as short
Extended 1000PEPE-USD	+0.0472%	1h	0.000005040	−0.590%	$555K	$199K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0472%	1h	0.000005059	−0.225%	$143K	—	3x	as long as short
MEXC PEPE_USDT	+0.0474%	8h	0.000005038	−0.647%	$98.4M	$292.9M	300x	as long as short
Binance 1000PEPEUSDT	+0.0476%	8h	0.000005026	−0.872%	$138.9M	$1.13B	75x	as long as short
GMX PEPE/USD [ETH-USDC]short	L +0.0501% / S −0.0406%	1h	0.000005000	−1.388%	$63K	—	100x
Aster 1000PEPEUSDT	+0.0537%	8h	0.000005039	−0.627%	$1.5M	$7.8M	50x	as long as short
Nado kPEPE-PERP	+0.0571%	1h	0.000005067	−0.063%	$191K	$866K	10x	as long as short
Lighter 1000PEPE	+0.0616%	1h	0.000005055	−0.304%	$664K	$6.9M	10x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000005083	+0.249%	$4K	$102K	12x	as long as short
01 Exchange kPEPEUSD	+0.0664%	1h	0.000005072	+0.032%	$1K	$2K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0666%	1h	0.000005045	−0.511%	$95K	$601K	15x	as long as short
Hyperliquid kPEPE	+0.2279%	1h	0.000005057	−0.264%	$56.3M	$133.0M	10x	as long as short