Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0412%/8h= −45.1% APRpaid last 24h −0.054%

Price spread now: KuCoin against Aevo−0.022%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,177as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,172as in the Price arb table

costs, in and out, $10k−$1,17111.711% of the position

Long on Aevo Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.059%−$6 on $10k

Price spread, last 3 days (all we have)−0.127%−$13 · spread now −0.022%, 7d avg −0.013%

Together, before fees−0.186%−$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.013%, so right now this pair is about funding alone: −$12 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 -0.059% in total (about -3.1% 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	0.000004930	0.0512	pay 0.0064% / 1h	37m 10s	$139K	—	3x
Short	KuCoin PEPEUSDTM	0.000004929	0.0100	get 0.0100% / 8h	7h 37m	$25.1M	$55.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$86.52
Price spread: −0.022% → −0.013%: −$0.88
Slippage, 4 orders: −$1,143.1
Fee Aevo: 8 bp × 2 orders: −$16
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$1,258.5
Costs to cover: 11.711%
Break-even: never at this rate

Slippage from Aevo: live order book, 36 min ago; KuCoin: 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, 36 min ago	273.02 bp	579.1 bp −$579	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	0.82 bp	14.6 bp −$15	23.3 bp −$233	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
Kraken Futures PF_PEPEUSD	−0.0119%	1h	0.000004934	+0.073%	$4.0M	$13.9M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004913	−0.339%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004928	−0.041%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004915	−0.304%	$58K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004931	+0.024%	$90.3M	$300.9M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004929	−0.020%	$156.3M	$65.5M	75x	as long as short
KuCoin PEPEUSDTMshort	+0.0100%	8h	0.000004929	−0.022%	$25.1M	$55.8M	75x
Bitget PEPEUSDT	+0.0100%	8h	0.000004934	+0.077%	$43.2M	$151.7M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004891	−0.796%	$572K	$4.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004900	−0.613%	$26K	$352K	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	0.000004942	+0.237%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004933	+0.061%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004930	−0.002%	$560K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000004923	−0.148%	$2.4M	$6.6M	50x	as long as short
Hyperliquid kPEPE	+0.0116%	1h	0.000004942	+0.243%	$59.3M	$113.2M	10x	as long as short
OKX PEPE-USDT-SWAP	+0.0188%	8h	0.000004938	+0.162%	$43.4M	$522.6M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004936	+0.113%	$7K	—	15x	as long as short
Paradex kPEPE-USD-PERP	+0.0193%	8h	0.000004918	−0.249%	$6K	$16	20x	as long as short
Lighter 1000PEPE	+0.0232%	1h	0.000004935	+0.101%	$577K	$6.7M	10x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0300%	8h	0.000004927	−0.063%	$30K	$13K	20x	as long as short
BloFin PEPE-USDT	+0.0307%	8h	0.000004937	+0.142%	$4.0M	$23.4M	75x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000004939	+0.183%	$591K	$26.7M	50x	as long as short
Nado kPEPE-PERP	+0.0411%	1h	0.000004938	+0.155%	$193K	$852K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0439%	1h	0.000004899	−0.629%	$101K	$753K	25x	as long as short
01 Exchange kPEPEUSD	+0.0440%	1h	0.000004940	+0.203%	$1K	$2K	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0460% / S −0.0686%	1h	0.000004000	−18.864%	$46K	—	100x	as long as short
BingX 1000PEPE-USDT	+0.0496%	8h	0.000004935	+0.112%	—	$256.9M	—	as long as short
MEXC PEPE_USDT	+0.0508%	8h	0.000004935	+0.105%	$97.5M	$282.4M	300x	as long as short
Binance 1000PEPEUSDT	+0.0509%	8h	0.000004932	+0.039%	$138.2M	$1.09B	75x	as long as short
Extended 1000PEPE-USD	+0.0512%	1h	0.000004929	−0.011%	$541K	$148K	25x	as long as short
Aevo 1000PEPE-PERPlong	+0.0512%	1h	0.000004930	long leg	$139K	—	3x
Aster 1000PEPEUSDT	+0.0527%	8h	0.000004936	+0.115%	$1.5M	$7.5M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0577%	1h	0.000004937	+0.136%	$92K	$601K	15x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000004915	−0.304%	$4K	$102K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0968%	1h	0.000004931	+0.020%	$70K	$107K	25x	as long as short