Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1361%/8h= +149.0% APRpaid last 24h +0.061%

Price spread now: GMX against Bitget−2.576%7-day average — · you buy dearer than you sell

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

Long on Bitget 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 2.576% cheaper against Bitget than usual: you would sell low and buy high (spread −2.576% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$258 on $10k: about 6.3 days of funding at the current rate (+$41 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PEPEUSDT	0.000005132	0.0205	pay 0.0205% / 8h	4h 21m	$47.4M	$179.7M	75x
Short	GMX PEPE/USD [ETH-USDC]	0.000005000	L +0.0783% / S −0.1566%	get 0.0196% / 1h	21m 08s	$62K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now −2.576%Rate

Funding earned: $285.72
Price spread: −2.576% → 0.000%: −$257.59
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $4.13
Costs to cover: 0.240%
Break-even: 6.9 days

Slippage unknown: Bitget: live order book, 3 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 Bitget live order book, 3 min ago	2.14 bp	9.7 bp −$10	12.7 bp −$127	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
dYdX PEPE-USD	0.0000%	1h	0.000005131	−0.033%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005128	−0.076%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005136	+0.074%	$65K	$144K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005126	−0.121%	$99.4M	$358.1M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005129	−0.062%	$167.0M	$81.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005135	+0.060%	$26.0M	$65.2M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005200	+1.312%	$761K	$4.8M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005152	+0.381%	$42K	$463K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005140	+0.146%	$1K	$2.5M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005128	−0.090%	$583K	$3.7M	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	0.000005132	−0.011%	$8K	—	15x	as long as short
Bitget PEPEUSDTlong	+0.0205%	8h	0.000005132	long leg	$47.4M	$179.7M	75x
Injective PEPE/USDC PERP	+0.0254%	1h	0.000005173	+0.795%	$3K	$102K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0352%	8h	0.000005131	−0.021%	$34K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0382%	8h	0.000005133	+0.016%	$48.3M	$625.0M	50x	as long as short
BloFin PEPE-USDT	+0.0502%	8h	0.000005143	+0.210%	$4.4M	$26.4M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0605%	8h	0.000005135	+0.045%	$2.6M	$7.3M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0672%	1h	0.000005139	+0.132%	$967K	$33.8M	50x	as long as short
BingX 1000PEPE-USDC	+0.0697%	8h	0.000005132	−0.012%	—	$2.3M	—	as long as short
MEXC PEPE_USDT	+0.0742%	8h	0.000005130	−0.039%	$98.2M	$291.1M	300x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0742%	1h	0.000005185	+1.029%	$103K	$744K	25x	as long as short
Binance 1000PEPEUSDT	+0.0744%	8h	0.000005132	−0.010%	$146.7M	$1.26B	75x	as long as short
Extended 1000PEPE-USD	+0.0744%	1h	0.000005134	+0.027%	$544K	$226K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0744%	1h	0.000005132	−0.004%	$145K	—	3x	as long as short
SoDEX 1000PEPE-USD	+0.0770%	1h	0.000005137	+0.094%	$2K	$10K	10x	as long as short
GMX PEPE/USD [ETH-USDC]short	L +0.0783% / S −0.1566%	1h	0.000005000	−2.576%	$62K	—	100x
Paradex kPEPE-USD-PERP	+0.0796%	8h	0.000005130	−0.035%	$6K	—	20x	as long as short
Lighter 1000PEPE	+0.0840%	1h	0.000005139	+0.132%	$591K	$8.3M	10x	as long as short
Aster 1000PEPEUSDT	+0.0844%	8h	0.000005128	−0.074%	$1.8M	$9.6M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0920%	1h	0.000005132	−0.004%	$73K	$125K	25x	as long as short
Nado kPEPE-PERP	+0.0923%	1h	0.000005128	−0.080%	$188K	$899K	10x	as long as short
01 Exchange kPEPEUSD	+0.1120%	1h	0.000005133	+0.016%	$619	$3K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.1158%	1h	0.000005135	+0.051%	$94K	$666K	15x	as long as short
Kraken Futures PF_PEPEUSD	+0.1268%	1h	0.000005136	+0.074%	$4.6M	$16.0M	50x	as long as short
Hyperliquid kPEPE	+0.1577%	1h	0.000005138	+0.113%	$55.4M	$142.1M	10x	as long as short