Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0853%/8h= +93.4% APRpaid last 24h +0.178%

Price spread now: GMX against edgeX−19.081%50s7-day average — · you buy dearer than you sell

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

Long on edgeX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Funding pays, the price is against you. GMX is 19.081% cheaper against edgeX than usual: you would sell low and buy high (spread −19.081% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$1,908 on $10k: about 2 months of funding at the current rate (+$26 a day). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX 1000PEPEUSDC	0.000004943	0.0100	pay 0.0050% / 4h	1h 50m	$27K	$570K	20x
Short	GMX PEPE/USD [ETH-USDC]	0.000004000	L +0.0839% / S −0.0953%	get 0.0119% / 1h	50m 10s	$50K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −19.081%Rate

Funding earned: $179.1
Price spread: −19.081% → 0.000%: −$1,908.05
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: −$1,749.96
Costs to cover: 0.210%
Break-even: 75.4 days

Slippage unknown: edgeX: live order book, 61 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 edgeX live order book, 61 min ago	1.20 bp	5.8 bp −$6	52.9 bp −$529	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 exchanges

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	−0.0371%	1h	0.000004944	+0.011%	$4.6M	$15.8M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004941	−0.049%	$25K	$18K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	0.0000%	1h	0.000004943	−0.004%	$57K	$115K	25x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000004943	+0.002%	$3K	—	150x	as long as short
01 Exchange kPEPEUSD	+0.0064%	1h	0.000004943	−0.004%	$596	$2K	10x	as long as short
Lighter 1000PEPE	+0.0096%	1h	0.000004948	+0.097%	$596K	$9.0M	10x	as long as short
Nado kPEPE-PERP	+0.0100%	1h	0.000004943	−0.004%	$146K	$943K	10x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004946	+0.057%	$50.1M	$155.1M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004945	+0.037%	$57K	$195K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004944	+0.027%	$94.2M	$442.0M	50x	as long as short

Show all 35 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PEPE_USDT	+0.0100%	8h	0.000004943	−0.004%	$152.2M	$102.1M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004947	+0.069%	$24.9M	$75.9M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004946	+0.049%	$43.5M	$230.9M	75x	as long as short
Backpack kPEPE_USDC_PERP	+0.0100%	1h	0.000004945	+0.033%	$75K	$990K	15x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004937	−0.120%	$642K	$5.3M	—	as long as short
edgeX 1000PEPEUSDClong	+0.0100%	4h	0.000004943	long leg	$27K	$570K	20x
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004945	+0.037%	$143K	$851K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004953	+0.201%	$1K	$2.5M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004944	+0.016%	$2K	$11K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004945	+0.041%	$580K	$4.2M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000004947	+0.073%	$2.3M	$8.0M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0110%	8h	0.000004944	+0.021%	$6K	—	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0129%	8h	0.000004945	+0.037%	$44.3M	$720.4M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004938	−0.109%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0255%	8h	0.000004937	−0.125%	$4.3M	$28.6M	75x	as long as short
Binance 1000PEPEUSDT	+0.0271%	8h	0.000004948	+0.098%	$128.3M	$1.52B	75x	as long as short
Extended 1000PEPE-USD	+0.0272%	1h	0.000004942	−0.017%	$518K	$285K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0272%	1h	0.000004940	−0.064%	$140K	—	3x	as long as short
BingX 1000PEPE-USDT	+0.0273%	8h	0.000004942	−0.014%	—	$181.1M	—	as long as short
MEXC PEPE_USDT	+0.0276%	8h	0.000004949	+0.116%	$102.1M	$295.1M	300x	as long as short
Aster 1000PEPEUSDT	+0.0276%	8h	0.000004947	+0.086%	$1.7M	$12.5M	50x	as long as short
Injective PEPE/USDC PERP	+0.0284%	1h	0.000004944	+0.016%	$4K	$122K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0342%	8h	0.000004941	−0.036%	$32K	$30K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004944	+0.016%	$731K	$38.8M	50x	as long as short
GMX PEPE/USD [ETH-USDC]short	L +0.0839% / S −0.0953%	1h	0.000004000	−19.081%	$50K	—	100x