Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0094%/8h= −10.3% APRpaid last 24h −0.025%

Price spread now: gTrade (Gains Network) against Bybit+0.149%7-day average — · you sell dearer than you buy

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

Long on Bybit 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 pays, funding is against you. gTrade (Gains Network) is 0.149% dearer against Bybit than usual: you sell high and buy low (spread +0.149% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit 1000PEPEUSDT	0.000005305	0.0100	pay 0.0100% / 8h	3h 44m	$104.6M	$374.2M	50x
Short	gTrade (Gains Network) PEPE/USD	0.000005313	L +0.0006% / S −0.0006%	get 0.0001% / 1h	44m 45s	$15K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Bybit. 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 BybitbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.149%Rate

Funding earned: −$19.82
Price spread: +0.149% → 0.000%: $14.89
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$25.93
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 4 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 Bybit live order book, 4 min ago	1.88 bp	11.2 bp −$11	20.1 bp −$201	40.5 bp −$4,047	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	0.000005317	+0.231%	$20K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USDshort	L +0.0006% / S −0.0006%	1h	0.000005313	+0.149%	$15K	—	150x
Injective PEPE/USDC PERP	+0.0092%	1h	0.000005381	+1.429%	$3K	$111K	12x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005321	+0.298%	$69K	$153K	10x	as long as short
Bybit 1000PEPEUSDTlong	+0.0100%	8h	0.000005305	long leg	$104.6M	$374.2M	50x
Gate PEPE_USDT	+0.0100%	8h	0.000005303	−0.041%	$175.8M	$86.2M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005307	+0.043%	$26.9M	$67.5M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005314	+0.158%	$761K	$5.1M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005342	+0.702%	$43K	$498K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005325	+0.366%	$2K	$2.5M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005327	+0.418%	$610K	$3.8M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005322	+0.308%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0264%	8h	0.000005313	+0.151%	$51.8M	$186.7M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0380%	8h	0.000005328	+0.422%	$36K	$26K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0422%	8h	0.000005312	+0.128%	$52.2M	$674.9M	50x	as long as short
BloFin PEPE-USDT	+0.0544%	8h	0.000005326	+0.392%	$4.5M	$28.2M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0619%	8h	0.000005329	+0.443%	$2.6M	$7.5M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0634%	1h	0.000005327	+0.411%	$2K	$10K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0690%	1h	0.000005327	+0.411%	$75K	$126K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0712%	1h	0.000005326	+0.392%	$712K	$36.3M	50x	as long as short
BingX 1000PEPE-USDT	+0.0764%	8h	0.000005305	0.000%	—	$264.0M	—	as long as short
Paradex kPEPE-USD-PERP	+0.0799%	8h	0.000005320	+0.287%	$6K	—	20x	as long as short
Aevo 1000PEPE-PERP	+0.0800%	1h	0.000005320	+0.279%	$150K	—	3x	as long as short
MEXC PEPE_USDT	+0.0807%	8h	0.000005306	+0.008%	$103.2M	$292.8M	300x	as long as short
Binance 1000PEPEUSDT	+0.0807%	8h	0.000005303	−0.050%	$153.5M	$1.31B	75x	as long as short
Extended 1000PEPE-USD	+0.0808%	1h	0.000005307	+0.040%	$563K	$226K	25x	as long as short
Nado kPEPE-PERP	+0.0856%	1h	0.000005325	+0.382%	$190K	$914K	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0897% / S −0.1756%	1h	0.000005000	−5.753%	$65K	—	100x	as long as short
Aster 1000PEPEUSDT	+0.0935%	8h	0.000005318	+0.250%	$1.9M	$9.9M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.1118%	1h	0.000005342	+0.694%	$177K	$798K	25x	as long as short
01 Exchange kPEPEUSD	+0.1240%	1h	0.000005333	+0.524%	$643	$3K	10x	as long as short
Lighter 1000PEPE	+0.1328%	1h	0.000005328	+0.430%	$692K	$8.6M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.1350%	1h	0.000005325	+0.368%	$72K	$722K	15x	as long as short
Kraken Futures PF_PEPEUSD	+0.1533%	1h	0.000005325	+0.366%	$4.9M	$16.3M	50x	as long as short
Hyperliquid kPEPE	+0.1760%	1h	0.000005318	+0.241%	$58.3M	$144.5M	10x	as long as short