Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0317%/8h= +34.7% APRpaid last 24h −0.067%

Price spread now: MEXC against GMX+20.250%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 MEXC

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 for this trade now. Funding pays +$9 a day on $10k at the current rate, and MEXC is 20.250% dearer against GMX than usual: you sell high and buy low: +$2,025 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX PEPE/USD [ETH-USDC]	0.000004000	L +0.0363% / S −0.0406%	pay 0.0045% / 1h	43m 57s	$43K	—	100x
Short	MEXC PEPE_USDT	0.000004810	0.0680	get 0.0680% / 8h	43m 57s	$93.4M	$279.9M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +20.250%Rate

Funding earned: $66.49
Price spread: +20.250% → 0.000%: $2,025
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: $2,079.49
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; MEXC: live order book, 5 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 MEXC live order book, 5 min ago	0.10 bp	0.4 bp $0	9.4 bp −$94	46.2 bp −$4,620	83.4 bp −$41.7K

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
Hyperliquid kPEPE	−0.0249%	1h	0.000004804	+20.100%	$67.4M	$88.9M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004810	+20.243%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004809	+20.230%	$14K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0066%	1h	0.000004810	+20.250%	$3.9M	$13.6M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004810	+20.250%	$59K	$115K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004809	+20.225%	$86.5M	$288.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004808	+20.200%	$150.5M	$64.1M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004810	+20.258%	$24.6M	$54.3M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004811	+20.265%	$42.4M	$149.7M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004829	+20.722%	$591K	$4.1M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004811	+20.286%	$26K	$348K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004803	+20.075%	$101K	$762K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004824	+20.593%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004812	+20.300%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004812	+20.303%	$544K	$3.5M	75x	as long as short
Lighter 1000PEPE	+0.0176%	1h	0.000004813	+20.325%	$627K	$6.3M	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004813	+20.326%	$7K	—	15x	as long as short
Paradex kPEPE-USD-PERP	+0.0206%	8h	0.000004815	+20.386%	$5K	$16	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0213%	8h	0.000004811	+20.275%	$41.7M	$498.6M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0218%	8h	0.000004810	+20.238%	$2.3M	$6.4M	50x	as long as short
01 Exchange kPEPEUSD	+0.0224%	1h	0.000004817	+20.425%	$552	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0336%	8h	0.000004822	+20.550%	$3.9M	$22.4M	75x	as long as short
GMX PEPE/USD [ETH-USDC]long	L +0.0363% / S −0.0406%	1h	0.000004000	long leg	$43K	—	100x
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004814	+20.350%	$570K	$25.8M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0418%	8h	0.000004814	+20.350%	$30K	$12K	20x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004831	+20.775%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0511%	1h	0.000004812	+20.293%	$91K	$601K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0582%	1h	0.000004813	+20.325%	$81K	$94K	25x	as long as short
BingX 1000PEPE-USDC	+0.0668%	8h	0.000004810	+20.253%	—	$2.3M	—	as long as short
Binance 1000PEPEUSDT	+0.0677%	8h	0.000004811	+20.272%	$131.9M	$1.05B	75x	as long as short
Extended 1000PEPE-USD	+0.0680%	1h	0.000004810	+20.248%	$529K	$148K	25x	as long as short
MEXC PEPE_USDTshort	+0.0680%	8h	0.000004810	+20.250%	$93.4M	$279.9M	300x
Aevo 1000PEPE-PERP	+0.0680%	1h	0.000004813	+20.325%	$136K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0683%	8h	0.000004812	+20.308%	$1.5M	$7.2M	50x	as long as short
Nado kPEPE-PERP	+0.0806%	1h	0.000004818	+20.441%	$184K	$847K	10x	as long as short