Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0856%/8h= −93.7% APRpaid last 24h −0.111%

Price spread now: KuCoin against GMX+1.956%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 KuCoin

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

The price spread pays, funding is against you. KuCoin is 1.956% dearer against GMX than usual: you sell high and buy low (spread +1.956% now, against zero (this spread has no 7-day history yet)): +$196 on $10k if it goes back. Holding the pair costs −$26 a day in funding at the current rate, which eats that in about 7.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX PEPE/USD [ETH-USDC]	0.000005000	L +0.1019% / S −0.1149%	pay 0.0127% / 1h	37m 12s	$51K	—	100x
Short	KuCoin PEPEUSDTM	0.000005098	0.0163	get 0.0163% / 8h	7h 37m	$26.6M	$74.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +1.956%Rate

Funding earned: −$179.69
Price spread: +1.956% → 0.000%: $195.6
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$8.09
Costs to cover: 0.240%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 2 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 KuCoin live order book, 2 min ago	1.67 bp	12.2 bp −$12	22.0 bp −$220	doesn't fit	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
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005093	+1.868%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005107	+2.140%	$59K	$186K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005096	+1.920%	$98.4M	$436.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005097	+1.940%	$161.8M	$99.5M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005099	+1.973%	$638K	$5.4M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005089	+1.774%	$28K	$550K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005106	+2.124%	$2K	$2.7M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005099	+1.988%	$600K	$4.3M	75x	as long as short
Injective PEPE/USDC PERP	+0.0147%	1h	0.000005082	+1.640%	$7K	$121K	12x	as long as short
SoDEX 1000PEPE-USD	+0.0150%	1h	0.000005098	+1.960%	$2K	$11K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin PEPEUSDTMshort	+0.0163%	8h	0.000005098	+1.956%	$26.6M	$74.8M	75x
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005097	+1.932%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0205%	8h	0.000005096	+1.920%	$45.8M	$222.5M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0332%	8h	0.000005100	+2.000%	$46.6M	$747.4M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0337%	1h	0.000005088	+1.760%	$148K	$838K	25x	as long as short
Phemex u1000PEPEUSDT	+0.0361%	8h	0.000005096	+1.910%	$2.3M	$8.1M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0403%	1h	0.000005112	+2.234%	$98K	$907K	15x	as long as short
Paradex kPEPE-USD-PERP	+0.0412%	8h	0.000005107	+2.138%	$6K	—	20x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0435%	8h	0.000005098	+1.962%	$33K	$27K	20x	as long as short
BloFin PEPE-USDT	+0.0450%	8h	0.000005095	+1.900%	$4.4M	$30.3M	75x	as long as short
Hyperliquid kPEPE	+0.0485%	1h	0.000005099	+1.980%	$52.8M	$160.3M	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0504%	1h	0.000005085	+1.700%	$675K	$39.5M	50x	as long as short
01 Exchange kPEPEUSD	+0.0528%	1h	0.000005104	+2.080%	$616	$2K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0535%	1h	0.000005097	+1.940%	$73K	$128K	25x	as long as short
Lighter 1000PEPE	+0.0568%	1h	0.000005103	+2.060%	$610K	$9.0M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0622%	1h	0.000005094	+1.889%	$4.8M	$16.7M	50x	as long as short
BingX 1000PEPE-USDC	+0.0642%	8h	0.000005099	+1.988%	—	$2.3M	—	as long as short
Extended 1000PEPE-USD	+0.0656%	1h	0.000005097	+1.932%	$537K	$280K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0656%	1h	0.000005096	+1.920%	$144K	—	3x	as long as short
MEXC PEPE_USDT	+0.0657%	8h	0.000005102	+2.040%	$100.6M	$307.3M	300x	as long as short
Binance 1000PEPEUSDT	+0.0657%	8h	0.000005100	+1.992%	$140.5M	$1.51B	75x	as long as short
Nado kPEPE-PERP	+0.0661%	1h	0.000005097	+1.943%	$162K	$965K	10x	as long as short
Aster 1000PEPEUSDT	+0.0674%	8h	0.000005100	+1.992%	$1.7M	$12.0M	50x	as long as short
dYdX PEPE-USD	+0.0967%	1h	0.000005100	+1.993%	$19K	$649	10x	as long as short
GMX PEPE/USD [ETH-USDC]long	L +0.1019% / S −0.1149%	1h	0.000005000	long leg	$51K	—	100x