Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0158%/8h= −17.3% APRpaid last 24h −0.031%

Price spread now: Binance against GMX+4.876%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Binance

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

The price spread pays, funding is against you. Binance is 4.876% dearer against GMX than usual: you sell high and buy low (spread +4.876% now, against zero (this spread has no 7-day history yet)): +$488 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 3 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX PEPE/USD [ETH-USDC]	0.000005000	L +0.0962% / S −0.1923%	pay 0.0120% / 1h	23m 19s	$64K	—	100x
Short	Binance 1000PEPEUSDT	0.000005244	0.0804	get 0.0804% / 8h	3h 23m	$152.7M	$1.33B	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. 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 GMXbpFee BinancebpOrdersPrice spread, now +4.876%Rate

Funding earned: −$33.11
Price spread: +4.876% → 0.000%: $487.6
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: $432.49
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Binance: live order book, 6 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 GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, 6 min ago	0.19 bp	8.5 bp −$8	15.2 bp −$152	35.9 bp −$3,591	doesn't fit

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 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	0.000005232	+4.641%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005232	+4.642%	$14K	—	150x	as long as short
Injective PEPE/USDC PERP	+0.0092%	1h	0.000005327	+6.540%	$3K	$111K	12x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005238	+4.760%	$66K	$162K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005237	+4.732%	$107.0M	$380.9M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005236	+4.720%	$172.9M	$88.6M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005237	+4.740%	$25.9M	$68.5M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005215	+4.291%	$677K	$5.2M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005260	+5.198%	$29K	$533K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005246	+4.916%	$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	0.000005241	+4.810%	$588K	$3.9M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005237	+4.745%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0303%	8h	0.000005241	+4.830%	$50.9M	$190.6M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0396%	8h	0.000005244	+4.884%	$35K	$26K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0433%	8h	0.000005244	+4.880%	$50.5M	$677.5M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0455%	8h	0.000005239	+4.784%	$6K	—	20x	as long as short
SoDEX 1000PEPE-USD	+0.0503%	1h	0.000005243	+4.860%	$2K	$10K	10x	as long as short
BloFin PEPE-USDT	+0.0562%	8h	0.000005240	+4.800%	$4.9M	$28.3M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0644%	8h	0.000005241	+4.830%	$2.5M	$7.6M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0712%	1h	0.000005245	+4.900%	$723K	$36.4M	50x	as long as short
BingX 1000PEPE-USDT	+0.0761%	8h	0.000005242	+4.832%	—	$235.6M	—	as long as short
Aevo 1000PEPE-PERP	+0.0800%	1h	0.000005235	+4.700%	$148K	—	3x	as long as short
MEXC PEPE_USDT	+0.0801%	8h	0.000005238	+4.762%	$101.0M	$295.8M	300x	as long as short
Binance 1000PEPEUSDTshort	+0.0804%	8h	0.000005244	+4.876%	$152.7M	$1.33B	75x
Extended 1000PEPE-USD	+0.0808%	1h	0.000005243	+4.863%	$553K	$231K	25x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0843%	1h	0.000005254	+5.080%	$161K	$808K	25x	as long as short
Nado kPEPE-PERP	+0.0875%	1h	0.000005236	+4.718%	$188K	$916K	10x	as long as short
Aster 1000PEPEUSDT	+0.0909%	8h	0.000005238	+4.759%	$1.8M	$10.3M	50x	as long as short
GMX PEPE/USD [ETH-USDC]long	L +0.0962% / S −0.1923%	1h	0.000005000	long leg	$64K	—	100x
01 Exchange kPEPEUSD	+0.0992%	1h	0.000005243	+4.860%	$632	$3K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.1087%	1h	0.000005241	+4.820%	$75K	$126K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.1161%	1h	0.000005233	+4.668%	$68K	$724K	15x	as long as short
Lighter 1000PEPE	+0.1232%	1h	0.000005246	+4.920%	$634K	$8.8M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1558%	1h	0.000005239	+4.779%	$4.8M	$16.4M	50x	as long as short
Hyperliquid kPEPE	+0.1579%	1h	0.000005243	+4.860%	$57.0M	$145.8M	10x	as long as short