Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0662%/8h= +72.5% APRpaid last 24h +0.028%

Price spread now: BingX against gTrade (Gains Network)−0.155%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on BingX

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. BingX is 0.155% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.155% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 19 hours of funding at the current rate (+$20 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PEPE/USD	0.000004826	L +0.0006% / S −0.0006%	pay 0.0001% / 1h	46m 02s	$14K	—	150x
Short	BingX 1000PEPE-USDT	0.000004819	0.0668	get 0.0668% / 8h	46m 02s	—	$256.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BingXbpOrdersPrice spread, now −0.155%Rate

Funding earned: $139.09
Price spread: −0.155% → 0.000%: −$15.54
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: $103.55
Costs to cover: 0.200%
Break-even: 1.8 days

Slippage unknown: gTrade (Gains Network): no order-book sample; BingX: live order book, 8 min ago. 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell BingX live order book, 8 min ago	0.10 bp	5.6 bp −$6	8.7 bp −$87	12.6 bp −$1,259	27.5 bp −$13.7K

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
Hyperliquid kPEPE	−0.0230%	1h	0.000004815	−0.230%	$67.2M	$88.5M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004817	−0.191%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USDlong	L +0.0006% / S −0.0006%	1h	0.000004826	long leg	$14K	—	150x
Kraken Futures PF_PEPEUSD	+0.0066%	1h	0.000004824	−0.046%	$3.9M	$13.5M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004820	−0.126%	$59K	$115K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004825	−0.027%	$86.6M	$288.5M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004821	−0.106%	$150.9M	$64.0M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004829	+0.052%	$24.7M	$54.3M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004822	−0.087%	$42.6M	$149.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004816	−0.211%	$585K	$4.1M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004811	−0.304%	$26K	$348K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004822	−0.085%	$101K	$760K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004830	+0.089%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004825	−0.023%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004827	+0.012%	$547K	$3.5M	75x	as long as short
Lighter 1000PEPE	+0.0184%	1h	0.000004823	−0.064%	$628K	$6.3M	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004829	+0.061%	$7K	—	15x	as long as short
01 Exchange kPEPEUSD	+0.0208%	1h	0.000004826	−0.002%	$553	$2K	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0209%	8h	0.000004823	−0.065%	$5K	$16	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0213%	8h	0.000004829	+0.060%	$41.7M	$500.1M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0215%	8h	0.000004820	−0.118%	$2.3M	$6.4M	50x	as long as short
BloFin PEPE-USDT	+0.0338%	8h	0.000004808	−0.375%	$3.8M	$22.4M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0361% / S −0.0402%	1h	0.000004000	−17.117%	$43K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004832	+0.122%	$568K	$25.8M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0422%	8h	0.000004827	+0.029%	$30K	$12K	20x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004819	−0.147%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0551%	1h	0.000004823	−0.066%	$91K	$601K	15x	as long as short
BingX 1000PEPE-USDTshort	+0.0668%	8h	0.000004819	−0.155%	—	$256.4M	—
Extended 1000PEPE-USD	+0.0680%	1h	0.000004825	−0.030%	$529K	$148K	25x	as long as short
Binance 1000PEPEUSDT	+0.0680%	8h	0.000004824	−0.051%	$132.4M	$1.05B	75x	as long as short
MEXC PEPE_USDT	+0.0685%	8h	0.000004821	−0.102%	$93.6M	$279.8M	300x	as long as short
Aster 1000PEPEUSDT	+0.0688%	8h	0.000004822	−0.081%	$1.5M	$7.2M	50x	as long as short
Aevo 1000PEPE-PERP	+0.0688%	1h	0.000004828	+0.039%	$136K	—	3x	as long as short
Nado kPEPE-PERP	+0.0794%	1h	0.000004829	+0.060%	$185K	$847K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0994%	1h	0.000004829	+0.060%	$82K	$94K	25x	as long as short