Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0420%/8h= −46.0% APRpaid last 24h −0.056%

Price spread now: Gate against Aevo−0.041%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,178as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,171as in the Price arb table

costs, in and out, $10k−$1,16911.694% of the position

Long on Aevo Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.090%−$9 on $10k

Price spread, last 3 days (all we have)−0.131%−$13 · spread now −0.041%, 7d avg −0.024%

Together, before fees−0.220%−$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.024%, so right now this pair is about funding alone: −$13 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.090% in total (about -4.7% 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	0.000004895	0.0520	pay 0.0065% / 1h	41m 52s	$138K	—	3x
Short	Gate PEPE_USDT	0.000004893	0.0100	get 0.0100% / 8h	7h 41m	$155.8M	$65.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.041%Rate

Funding earned: −$88.2
Price spread: −0.041% → −0.024%: −$1.67
Slippage, 4 orders: −$1,138.45
Fee Aevo: 8 bp × 2 orders: −$16
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$1,259.32
Costs to cover: 11.694%
Break-even: never at this rate

Slippage from Aevo: live order book, 32 min ago; Gate: live order book, 2 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, 32 min ago	273.02 bp	579.1 bp −$579	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	1.03 bp	13.0 bp −$13	19.5 bp −$195	58.7 bp −$5,866	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
Kraken Futures PF_PEPEUSD	−0.0120%	1h	0.000004896	+0.023%	$3.9M	$13.9M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004891	−0.087%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004894	−0.018%	$15K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004895	0.000%	$61.7M	$109.8M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004894	−0.020%	$57K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004889	−0.129%	$89.5M	$300.6M	50x	as long as short
Gate PEPE_USDTshort	+0.0100%	8h	0.000004893	−0.041%	$155.8M	$65.2M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004891	−0.074%	$24.7M	$56.0M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004887	−0.161%	$42.9M	$152.2M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004859	−0.741%	$574K	$4.3M	—	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	0.000004868	−0.547%	$26K	$353K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004902	+0.149%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004896	+0.020%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004892	−0.053%	$555K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000004897	+0.037%	$2.3M	$6.5M	50x	as long as short
Lighter 1000PEPE	+0.0152%	1h	0.000004899	+0.082%	$572K	$6.7M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0185%	8h	0.000004896	+0.018%	$5K	$16	20x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004893	−0.038%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0191%	8h	0.000004893	−0.041%	$43.2M	$519.1M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0307%	8h	0.000004894	−0.012%	$30K	$13K	20x	as long as short
BloFin PEPE-USDT	+0.0312%	8h	0.000004890	−0.102%	$4.0M	$23.2M	75x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000004896	+0.020%	$557K	$26.5M	50x	as long as short
Nado kPEPE-PERP	+0.0379%	1h	0.000004898	+0.052%	$186K	$849K	10x	as long as short
01 Exchange kPEPEUSD	+0.0416%	1h	0.000004901	+0.123%	$1K	$2K	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0449% / S −0.0665%	1h	0.000004000	−18.284%	$46K	—	100x	as long as short
BingX 1000PEPE-USDC	+0.0512%	8h	0.000004892	−0.063%	—	$2.3M	—	as long as short
Binance 1000PEPEUSDT	+0.0519%	8h	0.000004894	−0.030%	$137.9M	$1.09B	75x	as long as short
Extended 1000PEPE-USD	+0.0520%	1h	0.000004892	−0.055%	$538K	$148K	25x	as long as short
Aevo 1000PEPE-PERPlong	+0.0520%	1h	0.000004895	long leg	$138K	—	3x
MEXC PEPE_USDT	+0.0522%	8h	0.000004900	+0.110%	$96.7M	$281.4M	300x	as long as short
Aster 1000PEPEUSDT	+0.0533%	8h	0.000004898	+0.065%	$1.5M	$7.5M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0588%	1h	0.000004871	−0.490%	$101K	$754K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0608%	1h	0.000004894	−0.012%	$94K	$598K	15x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000004875	−0.409%	$4K	$102K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0976%	1h	0.000004898	+0.061%	$79K	$98K	25x	as long as short