Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0041%/8h= −4.5% APRpaid last 24h −0.024%

Price spread now: BingX against Aevo−0.104%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,174as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,186as in the Price arb table

costs, in and out, $10k−$1,17511.747% of the position

Long on Aevo Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 3 days (all we have)−0.165%−$16 · spread now −0.104%, 7d avg +0.009%

Together, before fees−0.154%−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BingX is 0.113% cheaper against Aevo than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.009%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo 1000PEPE-PERP	0.000004808	0.0808	pay 0.0101% / 1h	34m 49s	$136K	—	3x
Short	BingX 1000PEPE-USDT	0.000004803	0.0767	get 0.0767% / 8h	2h 34m	—	$254.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Aevo. 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 AevobpFee BingXbpOrdersPrice spread, now −0.104%Rate

Funding earned: −$8.61
Price spread: −0.104% → +0.009%: −$11.32
Slippage, 4 orders: −$1,148.73
Fee Aevo: 8 bp × 2 orders: −$16
Fee BingX: 5 bp × 2 orders: −$10
Net: −$1,194.65
Costs to cover: 11.747%
Break-even: never at this rate

Slippage from Aevo: live order book, 53 min ago; BingX: live order book, 9 min ago.

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 Aevo live order book, 53 min ago	271.04 bp	574.8 bp −$575	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	0.31 bp	6.7 bp −$7	10.9 bp −$109	16.6 bp −$1,664	38.4 bp −$19.2K

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	0.000004793	−0.305%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004795	−0.275%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004801	−0.146%	$56.6M	$69.9M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004801	−0.146%	$59K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004798	−0.208%	$88.6M	$273.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004798	−0.208%	$148.5M	$61.7M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004800	−0.160%	$23.7M	$52.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004799	−0.180%	$705K	$3.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004821	+0.270%	$27K	$337K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004807	−0.017%	$1K	$2.4M	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	0.000004805	−0.067%	$553K	$3.6M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0125%	8h	0.000004803	−0.104%	$41.3M	$487.8M	50x	as long as short
Bitget PEPEUSDT	+0.0168%	8h	0.000004803	−0.106%	$43.3M	$152.1M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004803	−0.100%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0241%	8h	0.000004806	−0.042%	$3.9M	$21.7M	75x	as long as short
Lighter 1000PEPE	+0.0248%	1h	0.000004802	−0.125%	$591K	$5.1M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0318% / S −0.0217%	1h	0.000004000	−16.805%	$52K	—	100x	as long as short
Paradex kPEPE-USD-PERP	+0.0355%	8h	0.000004799	−0.189%	$5K	$16	20x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0373%	8h	0.000004800	−0.166%	$30K	$10K	20x	as long as short
Backpack kPEPE_USDC_PERP	+0.0423%	1h	0.000004805	−0.069%	$95K	$623K	15x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004802	−0.125%	$584K	$25.3M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0467%	8h	0.000004805	−0.069%	$2.3M	$6.3M	50x	as long as short
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004805	−0.062%	$4K	$92K	12x	as long as short
SoDEX 1000PEPE-USD	+0.0582%	1h	0.000004801	−0.146%	$2K	$9K	10x	as long as short
Nado kPEPE-PERP	+0.0665%	1h	0.000004800	−0.159%	$179K	$865K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0670%	1h	0.000004816	+0.166%	$100K	$758K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0763%	1h	0.000004802	−0.129%	$3.9M	$13.0M	50x	as long as short
BingX 1000PEPE-USDTshort	+0.0767%	8h	0.000004803	−0.104%	—	$254.8M	—
Deribit 1000PEPE_USDC-PERPETUAL	+0.0792%	1h	0.000004802	−0.125%	$81K	$94K	25x	as long as short
Extended 1000PEPE-USD	+0.0808%	1h	0.000004804	−0.087%	$526K	$146K	25x	as long as short
Aevo 1000PEPE-PERPlong	+0.0808%	1h	0.000004808	long leg	$136K	—	3x
Binance 1000PEPEUSDT	+0.0809%	8h	0.000004805	−0.069%	$127.4M	$1.02B	75x	as long as short
MEXC PEPE_USDT	+0.0810%	8h	0.000004803	−0.108%	$89.6M	$289.3M	300x	as long as short
Aster 1000PEPEUSDT	+0.0849%	8h	0.000004801	−0.155%	$1.5M	$6.8M	50x	as long as short
01 Exchange kPEPEUSD	+0.1240%	1h	0.000004813	+0.104%	$551	$2K	10x	as long as short