Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0283%/8h= +31.0% APRpaid last 24h +0.049%

Price spread now: GMX against KuCoin−19.925%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on GMX

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

Funding pays, the price is against you. GMX is 19.925% cheaper against KuCoin than usual: you would sell low and buy high (spread −19.925% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$1,992 on $10k: about 8 months of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PEPEUSDTM	0.000004995	0.0100	pay 0.0100% / 8h	7h 24m	$25.3M	$56.4M	75x
Short	GMX PEPE/USD [ETH-USDC]	0.000004000	L +0.0480% / S −0.0383%	get 0.0048% / 1h	24m 57s	$62K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against KuCoin. 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 KuCoinbpFee GMXbpOrdersPrice spread, now −19.925%Rate

Funding earned: $59.52
Price spread: −19.925% → 0.000%: −$1,992.47
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$1,956.95
Costs to cover: 0.240%
Break-even: 237.2 days

Slippage unknown: KuCoin: live order book, 4 min ago; GMX: 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 KuCoin live order book, 4 min ago	0.70 bp	13.0 bp −$13	26.5 bp −$265	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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
Kraken Futures PF_PEPEUSD	−0.0117%	1h	0.000004992	−0.066%	$3.9M	$14.1M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004976	−0.382%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004980	−0.306%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004980	−0.306%	$58K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004994	−0.024%	$92.7M	$304.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004989	−0.126%	$158.5M	$66.9M	75x	as long as short
KuCoin PEPEUSDTMlong	+0.0100%	8h	0.000004995	long leg	$25.3M	$56.4M	75x
Bitget PEPEUSDT	+0.0100%	8h	0.000004992	−0.070%	$43.6M	$152.8M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004973	−0.453%	$612K	$4.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004955	−0.813%	$52K	$377K	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	0.000004993	−0.054%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004986	−0.186%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004988	−0.156%	$559K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000004983	−0.254%	$2.4M	$6.7M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0182%	8h	0.000004988	−0.146%	$43.9M	$532.2M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004980	−0.299%	$8K	—	15x	as long as short
Paradex kPEPE-USD-PERP	+0.0208%	8h	0.000004978	−0.356%	$6K	$16	20x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0284%	8h	0.000004982	−0.258%	$31K	$14K	20x	as long as short
BloFin PEPE-USDT	+0.0301%	8h	0.000004995	−0.006%	$4.1M	$23.8M	75x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0310%	1h	0.000004960	−0.707%	$103K	$754K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000004993	−0.046%	$674K	$27.3M	50x	as long as short
Lighter 1000PEPE	+0.0400%	1h	0.000004996	+0.014%	$585K	$6.7M	10x	as long as short
Nado kPEPE-PERP	+0.0466%	1h	0.000004980	−0.305%	$192K	$857K	10x	as long as short
BingX 1000PEPE-USDT	+0.0475%	8h	0.000004996	+0.016%	—	$257.2M	—	as long as short
GMX PEPE/USD [ETH-USDC]short	L +0.0480% / S −0.0383%	1h	0.000004000	−19.925%	$62K	—	100x
Extended 1000PEPE-USD	+0.0488%	1h	0.000004990	−0.116%	$549K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0488%	1h	0.000004986	−0.186%	$141K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0489%	8h	0.000004998	+0.044%	$139.3M	$1.10B	75x	as long as short
MEXC PEPE_USDT	+0.0489%	8h	0.000004995	−0.006%	$99.8M	$285.6M	300x	as long as short
01 Exchange kPEPEUSD	+0.0496%	1h	0.000004984	−0.226%	$1K	$2K	10x	as long as short
Aster 1000PEPEUSDT	+0.0524%	8h	0.000004989	−0.125%	$1.5M	$7.5M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0562%	1h	0.000004994	−0.030%	$95K	$601K	15x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000004983	−0.246%	$4K	$102K	12x	as long as short
Hyperliquid kPEPE	+0.0888%	1h	0.000005007	+0.234%	$59.1M	$120.8M	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.1156%	1h	0.000004987	−0.166%	$64K	$115K	25x	as long as short