Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0716%/8h= −78.4% APRpaid last 24h −0.024%

Price spread now: edgeX against Aevo+0.148%72s7-day average −0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,172as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1,17411.737% of the position

Long on Aevo Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 3 days (all we have)−0.486%−$49 · spread now +0.148%, 7d avg −0.017%

Together, before fees−0.470%+ Points / potential airdropedgeX: Active · farm board−$47 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.165% dearer against Aevo than usual: you sell high and buy low (spread +0.148% now, against its 7-day average of −0.017%): +$16 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 18 hours. The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.017% in total (about 0.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo 1000PEPE-PERP	0.000004808	0.0816	pay 0.0102% / 1h	30m 18s	$136K	—	3x
Short	edgeX 1000PEPEUSDC	0.000004815	0.0100	get 0.0050% / 4h	2h 30m	$27K	$338K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.148%Rate

Funding earned: −$150.36
Price spread: +0.148% → −0.017%: $16.5
Slippage, 4 orders: −$1,148.72
Fee Aevo: 8 bp × 2 orders: −$16
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$1,307.58
Costs to cover: 11.737%
Break-even: never at this rate

Slippage from Aevo: live order book, 58 min ago; edgeX: live order book, 58 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, 58 min ago	271.04 bp	574.8 bp −$575	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 58 min ago	0.92 bp	5.6 bp −$6	37.3 bp −$373	doesn't fit	doesn't fit

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	0.000004800	−0.171%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004794	−0.291%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004802	−0.125%	$57.0M	$70.3M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004806	−0.042%	$59K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004794	−0.300%	$88.5M	$273.3M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004796	−0.250%	$149.0M	$61.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004801	−0.156%	$23.8M	$52.4M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004799	−0.181%	$702K	$3.7M	—	as long as short
edgeX 1000PEPEUSDCshort	+0.0100%	4h	0.000004815	+0.148%	$27K	$338K	20x
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004806	−0.031%	$2K	$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	0.000004799	−0.193%	$553K	$3.6M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0133%	8h	0.000004796	−0.250%	$41.3M	$487.5M	50x	as long as short
Bitget PEPEUSDT	+0.0172%	8h	0.000004798	−0.214%	$43.2M	$152.2M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004802	−0.134%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0248%	8h	0.000004806	−0.042%	$3.9M	$21.7M	75x	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
Lighter 1000PEPE	+0.0360%	1h	0.000004800	−0.166%	$591K	$5.1M	10x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0382%	8h	0.000004799	−0.189%	$29K	$11K	20x	as long as short
Paradex kPEPE-USD-PERP	+0.0400%	8h	0.000004805	−0.054%	$5K	$16	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004801	−0.146%	$575K	$25.3M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0469%	8h	0.000004799	−0.196%	$2.3M	$6.3M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0498%	1h	0.000004805	−0.060%	$95K	$622K	15x	as long as short
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004809	+0.021%	$4K	$92K	12x	as long as short
Nado kPEPE-PERP	+0.0696%	1h	0.000004805	−0.056%	$179K	$859K	10x	as long as short
SoDEX 1000PEPE-USD	+0.0714%	1h	0.000004798	−0.208%	$2K	$9K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0722%	1h	0.000004816	+0.166%	$100K	$759K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0763%	1h	0.000004798	−0.218%	$3.9M	$13.0M	50x	as long as short
BingX 1000PEPE-USDC	+0.0774%	8h	0.000004799	−0.191%	—	$2.3M	—	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0793%	1h	0.000004798	−0.208%	$81K	$94K	25x	as long as short
Extended 1000PEPE-USD	+0.0816%	1h	0.000004795	−0.264%	$526K	$147K	25x	as long as short
Aevo 1000PEPE-PERPlong	+0.0816%	1h	0.000004808	long leg	$136K	—	3x
MEXC PEPE_USDT	+0.0819%	8h	0.000004803	−0.106%	$90.3M	$290.0M	300x	as long as short
Binance 1000PEPEUSDT	+0.0820%	8h	0.000004798	−0.204%	$127.6M	$1.02B	75x	as long as short
Aster 1000PEPEUSDT	+0.0860%	8h	0.000004800	−0.160%	$1.5M	$6.8M	50x	as long as short
01 Exchange kPEPEUSD	+0.1232%	1h	0.000004813	+0.104%	$551	$2K	10x	as long as short