Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0094%/8h= −10.3% APRpaid last 24h −0.011%

Price spread now: gTrade (Gains Network) against Gate−0.374%7-day average — · you buy dearer than you sell

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

Long on Gate Short on gTrade (Gains Network)

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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.374% cheaper against Gate than usual: you would sell low and buy high (−$37 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PEPE_USDT	0.000004843	0.0100	pay 0.0100% / 8h	1h 58m	$151.4M	$61.8M	75x
Short	gTrade (Gains Network) PEPE/USD	0.000004825	L +0.0006% / S −0.0006%	get 0.0001% / 1h	58m 38s	$14K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.374%Rate

Funding earned: −$19.83
Price spread: −0.374% → 0.000%: −$37.37
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$82.2
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 5 min ago; gTrade (Gains Network): 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 Gate live order book, 5 min ago	2.08 bp	10.3 bp −$10	18.8 bp −$188	72.8 bp −$7,277	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

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
dYdX PEPE-USD	0.0000%	1h	0.000004840	−0.072%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USDshort	L +0.0006% / S −0.0006%	1h	0.000004825	−0.374%	$14K	—	150x
Nado kPEPE-PERP	+0.0100%	1h	0.000004828	−0.300%	$189K	$848K	10x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004841	−0.041%	$59.2M	$73.7M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004845	+0.041%	$60K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004843	−0.002%	$88.0M	$276.0M	50x	as long as short
Gate PEPE_USDTlong	+0.0100%	8h	0.000004843	long leg	$151.4M	$61.8M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004842	−0.021%	$25.1M	$53.4M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004813	−0.614%	$552K	$3.9M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004819	−0.490%	$27K	$343K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004823	−0.403%	$1K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004834	−0.194%	$555K	$3.4M	75x	as long as short
Bitget PEPEUSDT	+0.0185%	8h	0.000004844	+0.010%	$42.8M	$151.0M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004827	−0.321%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0201%	8h	0.000004845	+0.041%	$41.6M	$489.6M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0214% / S −0.0087%	1h	0.000004000	−17.407%	$55K	—	100x	as long as short
BloFin PEPE-USDT	+0.0316%	8h	0.000004843	0.000%	$3.9M	$22.0M	75x	as long as short
Lighter 1000PEPE	+0.0424%	1h	0.000004847	+0.083%	$575K	$5.3M	10x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0430%	8h	0.000004835	−0.163%	$30K	$11K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0448%	1h	0.000004832	−0.227%	$578K	$25.2M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0523%	8h	0.000004844	+0.021%	$2.3M	$6.4M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0541%	8h	0.000004840	−0.058%	$5K	$16	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0784%	1h	0.000004816	−0.558%	$102K	$763K	25x	as long as short
BingX 1000PEPE-USDC	+0.0831%	8h	0.000004839	−0.076%	—	$2.3M	—	as long as short
Injective PEPE/USDC PERP	+0.0873%	1h	0.000004815	−0.578%	$4K	$103K	12x	as long as short
Extended 1000PEPE-USD	+0.0880%	1h	0.000004841	−0.037%	$532K	$147K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0880%	1h	0.000004835	−0.165%	$137K	—	3x	as long as short
MEXC PEPE_USDT	+0.0883%	8h	0.000004845	+0.045%	$92.0M	$281.7M	300x	as long as short
Binance 1000PEPEUSDT	+0.0885%	8h	0.000004847	+0.081%	$129.6M	$1.02B	75x	as long as short
Aster 1000PEPEUSDT	+0.0914%	8h	0.000004846	+0.055%	$1.5M	$6.9M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0993%	1h	0.000004833	−0.206%	$82K	$94K	25x	as long as short
SoDEX 1000PEPE-USD	+0.1019%	1h	0.000004832	−0.227%	$2K	$9K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.1037%	1h	0.000004840	−0.060%	$93K	$614K	15x	as long as short
01 Exchange kPEPEUSD	+0.1096%	1h	0.000004837	−0.124%	$554	$2K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1320%	1h	0.000004834	−0.185%	$3.9M	$13.1M	50x	as long as short