Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: Gate against edgeX−0.841%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$119as in the Price arb table

costs, in and out, $10k−$370.368% of the position

Long on edgeX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.083%−$8 on $10k

Price spread, last 4 days (all we have)+0.273%+$27 · spread now −0.841%, 7d avg −0.019%

Together, before fees+0.190%+ Points / potential airdropedgeX: Active · farm board+$19 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.823% cheaper against edgeX than usual: you would sell low and buy high, −$82 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX 1000PEPEUSDC	0.000005115	0.0100	pay 0.0050% / 4h	2h 03m	$27K	$422K	20x
Short	Gate PEPE_USDT	0.000005072	0.0100	get 0.0100% / 8h	6h 03m	$162.9M	$72.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against edgeX. 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 edgeXbpFee GatebpOrdersPrice spread, now −0.841%Rate

Funding earned: $0
Price spread: −0.841% → −0.019%: −$82.27
Slippage, 4 orders: −$12.84
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$119.1
Costs to cover: 0.368%
Break-even: never at this rate

Slippage from edgeX: live order book, 65 min ago; Gate: live order book, 6 min ago.

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 edgeX live order book, 65 min ago	1.38 bp	6.0 bp −$6	8.4 bp −$84	doesn't fit	doesn't fit
Sell Gate live order book, 6 min ago	0.98 bp	13.6 bp −$14	22.8 bp −$228	82.5 bp −$8,249	doesn't fit

PEPE on 34 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	0.000005071	−0.861%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005073	−0.826%	$18K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005081	−0.665%	$62K	$127K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005075	−0.788%	$99.0M	$326.9M	50x	as long as short
Gate PEPE_USDTshort	+0.0100%	8h	0.000005072	−0.841%	$162.9M	$72.5M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005077	−0.742%	$25.5M	$61.4M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005080	−0.689%	$47.3M	$167.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005096	−0.380%	$681K	$4.6M	—	as long as short
edgeX 1000PEPEUSDClong	+0.0100%	4h	0.000005115	long leg	$27K	$422K	20x
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005091	−0.478%	$2K	$2.4M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005089	−0.507%	$580K	$3.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005075	−0.774%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0267%	8h	0.000005079	−0.704%	$45.9M	$578.0M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0290%	8h	0.000005084	−0.614%	$33K	$24K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0424%	1h	0.000005089	−0.509%	$926K	$30.6M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0487%	8h	0.000005078	−0.716%	$2.4M	$7.0M	50x	as long as short
BingX 1000PEPE-USDT	+0.0520%	8h	0.000005076	−0.767%	—	$259.6M	—	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0531% / S −0.0563%	1h	0.000005000	−2.249%	$57K	—	100x	as long as short
MEXC PEPE_USDT	+0.0557%	8h	0.000005080	−0.685%	$96.7M	$292.6M	300x	as long as short
Binance 1000PEPEUSDT	+0.0559%	8h	0.000005080	−0.686%	$143.5M	$1.18B	75x	as long as short
Extended 1000PEPE-USD	+0.0560%	1h	0.000005087	−0.539%	$559K	$199K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0560%	1h	0.000005089	−0.509%	$144K	—	3x	as long as short
SoDEX 1000PEPE-USD	+0.0602%	1h	0.000005088	−0.528%	$2K	$12K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0615%	1h	0.000005115	−0.001%	$106K	$749K	25x	as long as short
Aster 1000PEPEUSDT	+0.0661%	8h	0.000005081	−0.675%	$1.7M	$8.3M	50x	as long as short
Nado kPEPE-PERP	+0.0669%	1h	0.000005076	−0.754%	$192K	$881K	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0679%	8h	0.000005083	−0.632%	$6K	—	20x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0735%	1h	0.000005082	−0.646%	$62K	$114K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0819%	1h	0.000005084	−0.599%	$4.0M	$14.6M	50x	as long as short
Injective PEPE/USDC PERP	+0.0909%	1h	0.000005109	−0.118%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0947%	1h	0.000005078	−0.726%	$98K	$609K	15x	as long as short
01 Exchange kPEPEUSD	+0.0968%	1h	0.000005081	−0.665%	$613	$3K	10x	as long as short
Lighter 1000PEPE	+0.1816%	1h	0.000005096	−0.372%	$1.1M	$7.4M	10x	as long as short
Hyperliquid kPEPE	+0.2033%	1h	0.000005083	−0.626%	$56.2M	$136.2M	10x	as long as short