Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0183%/8h= +20.1% APRpaid last 24h +0.042%

Price spread now: Bitget against gTrade (Gains Network)−0.500%115s7-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 Bitget

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—needs both histories

Funding pays, the price is against you. Bitget is 0.500% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.500% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$50 on $10k: about 9.1 days of funding at the current rate (+$5 a day). The two prices were read 115 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	gTrade (Gains Network) PEPE/USD	0.000005019	L +0.0006% / S −0.0008%	pay 0.0001% / 1h	26m 22s	$4K	—	150x
Short	Bitget PEPEUSDT	0.000004994	0.0189	get 0.0189% / 8h	7h 26m	$45.3M	$223.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.500%Rate

Funding earned: $38.5
Price spread: −0.500% → 0.000%: −$50.01
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$33.51
Costs to cover: 0.220%
Break-even: 13.1 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Bitget: live order book, 3 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 Bitget live order book, 3 min ago	1.49 bp	9.1 bp −$9	10.8 bp −$108	doesn't fit	doesn't fit

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
gTrade (Gains Network) PEPE/USDlong	L +0.0006% / S −0.0008%	1h	0.000005019	long leg	$4K	—	150x
Pacifica kPEPE	+0.0100%	1h	0.000005010	−0.185%	$58K	$188K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004994	−0.504%	$96.7M	$440.9M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004995	−0.484%	$158.6M	$100.2M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005028	+0.167%	$644K	$5.4M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005029	+0.191%	$28K	$552K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005034	+0.291%	$1K	$2.7M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005031	+0.241%	$586K	$4.3M	75x	as long as short
Injective PEPE/USDC PERP	+0.0147%	1h	0.000005015	−0.086%	$7K	$121K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0148%	1h	0.000005026	+0.133%	$72K	$128K	25x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin PEPEUSDTM	+0.0163%	8h	0.000004997	−0.436%	$26.4M	$75.0M	75x	as long as short
Bitget PEPEUSDTshort	+0.0189%	8h	0.000004994	−0.500%	$45.3M	$223.8M	75x
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005035	+0.312%	$8K	—	15x	as long as short
SoDEX 1000PEPE-USD	+0.0194%	1h	0.000005026	+0.133%	$2K	$11K	10x	as long as short
Phemex u1000PEPEUSDT	+0.0248%	8h	0.000005025	+0.124%	$2.3M	$8.1M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0296%	1h	0.000005028	+0.173%	$148K	$841K	25x	as long as short
OKX PEPE-USDT-SWAP	+0.0318%	8h	0.000004998	−0.424%	$45.2M	$734.9M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0382%	1h	0.000005025	+0.114%	$92K	$911K	15x	as long as short
Paradex kPEPE-USD-PERP	+0.0404%	8h	0.000005000	−0.389%	$6K	—	20x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0438%	8h	0.000005028	+0.175%	$33K	$30K	20x	as long as short
BloFin PEPE-USDT	+0.0441%	8h	0.000005028	+0.173%	$4.5M	$30.2M	75x	as long as short
Hyperliquid kPEPE	+0.0452%	1h	0.000004999	−0.404%	$51.8M	$161.1M	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0504%	1h	0.000005028	+0.173%	$717K	$39.2M	50x	as long as short
01 Exchange kPEPEUSD	+0.0544%	1h	0.000004997	−0.444%	$603	$2K	10x	as long as short
Lighter 1000PEPE	+0.0616%	1h	0.000005015	−0.086%	$589K	$9.1M	10x	as long as short
BingX 1000PEPE-USDT	+0.0618%	8h	0.000004993	−0.514%	—	$177.8M	—	as long as short
Kraken Futures PF_PEPEUSD	+0.0631%	1h	0.000005022	+0.047%	$4.8M	$16.9M	50x	as long as short
Extended 1000PEPE-USD	+0.0648%	1h	0.000004999	−0.403%	$526K	$285K	25x	as long as short
MEXC PEPE_USDT	+0.0648%	8h	0.000005002	−0.355%	$97.5M	$309.1M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0648%	1h	0.000005028	+0.173%	$142K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0650%	8h	0.000004995	−0.476%	$136.5M	$1.53B	75x	as long as short
Aster 1000PEPEUSDT	+0.0668%	8h	0.000005004	−0.309%	$1.7M	$12.1M	50x	as long as short
Nado kPEPE-PERP	+0.0688%	1h	0.000004997	−0.434%	$155K	$970K	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0972% / S −0.1091%	1h	0.000005000	−0.385%	$50K	—	100x	as long as short
dYdX PEPE-USD	+0.5014%	1h	0.000004992	−0.554%	$25K	$12K	10x	as long as short