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: edgeX against Gate−0.077%52s7-day average +0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$390.392% of the position

Long on Gate Short on edgeX

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)+0.645%+$64 · spread now −0.077%, 7d avg +0.019%

Together, before fees+0.728%+ Points / potential airdropedgeX: Active · farm board+$73 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: edgeX is 0.095% cheaper against Gate than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.019%. The two prices were read 52 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	Gate PEPE_USDT	0.000005016	0.0100	pay 0.0100% / 8h	6h 46m	$159.5M	$69.8M	75x
Short	edgeX 1000PEPEUSDC	0.000005012	0.0100	get 0.0050% / 4h	2h 46m	$46K	$388K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Gate. 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 GatebpFee edgeXbpOrdersPrice spread, now −0.077%Rate

Funding earned: $0
Price spread: −0.077% → +0.019%: −$9.54
Slippage, 4 orders: −$15.21
Fee Gate: 7.5 bp × 2 orders: −$15
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$48.75
Costs to cover: 0.392%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; edgeX: live order book, 22 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 Gate live order book, 3 min ago	2.99 bp	15.0 bp −$15	19.7 bp −$197	80.4 bp −$8,038	doesn't fit
Sell edgeX live order book, 22 min ago	1.38 bp	6.1 bp −$6	26.3 bp −$263	doesn't fit	doesn't fit

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	0.000005017	+0.024%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005015	−0.012%	$3K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005029	+0.259%	$62K	$125K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005015	−0.014%	$96.8M	$319.7M	50x	as long as short
Gate PEPE_USDTlong	+0.0100%	8h	0.000005016	long leg	$159.5M	$69.8M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005033	+0.335%	$25.3M	$59.2M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005018	+0.048%	$44.7M	$158.5M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004998	−0.364%	$557K	$4.5M	—	as long as short
edgeX 1000PEPEUSDCshort	+0.0100%	4h	0.000005012	−0.077%	$46K	$388K	20x
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005029	+0.255%	$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	0.000005020	+0.088%	$559K	$3.6M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000005015	−0.024%	$2.4M	$6.8M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0150%	1h	0.000005007	−0.179%	$61K	$114K	25x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005017	+0.017%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0209%	8h	0.000005020	+0.080%	$44.3M	$556.3M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0273%	8h	0.000005013	−0.054%	$33K	$23K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0289%	1h	0.000005006	−0.199%	$106K	$752K	25x	as long as short
BloFin PEPE-USDT	+0.0318%	8h	0.000005008	−0.159%	$4.2M	$24.6M	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0418%	8h	0.000005030	+0.288%	$6K	$16	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0424%	1h	0.000005012	−0.080%	$646K	$28.7M	50x	as long as short
BingX 1000PEPE-USDC	+0.0447%	8h	0.000005020	+0.084%	—	$2.3M	—	as long as short
Aevo 1000PEPE-PERP	+0.0480%	1h	0.000005016	0.000%	$142K	—	3x	as long as short
MEXC PEPE_USDT	+0.0486%	8h	0.000005019	+0.064%	$95.2M	$288.1M	300x	as long as short
Binance 1000PEPEUSDT	+0.0486%	8h	0.000005020	+0.085%	$139.1M	$1.16B	75x	as long as short
Extended 1000PEPE-USD	+0.0488%	1h	0.000005016	−0.008%	$552K	$199K	25x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0505% / S −0.0410%	1h	0.000005000	−0.319%	$63K	—	100x	as long as short
Aster 1000PEPEUSDT	+0.0564%	8h	0.000005031	+0.298%	$1.7M	$8.0M	50x	as long as short
Nado kPEPE-PERP	+0.0590%	1h	0.000005020	+0.082%	$178K	$883K	10x	as long as short
SoDEX 1000PEPE-USD	+0.0604%	1h	0.000005015	−0.020%	$2K	$12K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0831%	1h	0.000005013	−0.066%	$3.9M	$14.4M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0853%	1h	0.000005015	−0.010%	$102K	$625K	15x	as long as short
Injective PEPE/USDC PERP	+0.0909%	1h	0.000005039	+0.459%	$4K	$102K	12x	as long as short
01 Exchange kPEPEUSD	+0.0976%	1h	0.000005030	+0.279%	$1K	$2K	10x	as long as short
Lighter 1000PEPE	+0.1240%	1h	0.000005030	+0.279%	$651K	$6.8M	10x	as long as short
Hyperliquid kPEPE	+0.2554%	1h	0.000005028	+0.239%	$55.5M	$134.8M	10x	as long as short