PEPE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0656%/8h= −71.8% APRnext payment −$0.82 per $10,000 · paid last 24h +0.043%

Price spread now: Lighter against Aevo+0.042%7-day average +0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,150as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,160as in the Price arb table

costs, in and out, $10k−$1,15911.589% of the position

Long on Aevo Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.088%+$9 on $10k

Price spread, last 3 days (all we have)−0.241%−$24 · spread now +0.042%, 7d avg +0.053%

Together, before fees−0.152%+ Points / potential airdropLighter: Season 3 · farm board−$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.053%, so right now this pair is about funding alone: −$20 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.088%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.088% in total (about 4.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.82 per $10,000. 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	0.000004795	0.0752	pay 0.0094% / 1h	10m 03s	$136K	—	3x
Short	Lighter 1000PEPE	0.000004797	0.0096	get 0.0012% / 1h	10m 03s	$669K	$6.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$137.76
Price spread: +0.042% → +0.053%: −$1.1
Slippage, 4 orders: −$1,142.88
Fee Aevo: 8 bp × 2 orders: −$16
Fee Lighter: 0 bp × 2 orders: $0
Net: −$1,297.74
Costs to cover: 11.589%
Break-even: never at this rate

Slippage from Aevo: live order book, 9 min ago; Lighter: live order book, 8 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, 9 min ago	275.11 bp	560.4 bp −$560	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 8 min ago	4.18 bp	4.2 bp −$4	12.2 bp −$122	37.4 bp −$3,737	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	0.000004787	−0.160%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004789	−0.115%	$14K	—	150x	as long as short
Lighter 1000PEPEshort	+0.0096%	1h	0.000004797	+0.042%	$669K	$6.0M	10x
Hyperliquid kPEPE	+0.0100%	1h	0.000004791	−0.083%	$62.9M	$83.2M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004790	−0.104%	$59K	$114K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004792	−0.067%	$87.0M	$283.1M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004791	−0.083%	$150.5M	$63.5M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004794	−0.023%	$24.7M	$54.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004794	−0.024%	$543K	$4.0M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004795	+0.005%	$28K	$343K	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	0.000004796	+0.010%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004796	+0.021%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004792	−0.058%	$540K	$3.5M	75x	as long as short
Bitget PEPEUSDT	+0.0111%	8h	0.000004795	−0.008%	$42.1M	$148.8M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004788	−0.138%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0219%	8h	0.000004793	−0.042%	$41.4M	$491.5M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0271%	8h	0.000004787	−0.177%	$5K	$16	20x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0328% / S −0.0354%	1h	0.000004000	−16.580%	$43K	—	100x	as long as short
BloFin PEPE-USDT	+0.0338%	8h	0.000004795	0.000%	$3.9M	$22.1M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0342%	8h	0.000004794	−0.027%	$2.3M	$6.4M	50x	as long as short
01 Exchange kPEPEUSD	+0.0408%	1h	0.000004789	−0.125%	$549	$2K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0447%	1h	0.000004792	−0.063%	$101K	$763K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0448%	1h	0.000004796	+0.021%	$582K	$25.5M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0450%	8h	0.000004794	−0.021%	$29K	$11K	20x	as long as short
Backpack kPEPE_USDC_PERP	+0.0544%	1h	0.000004794	−0.023%	$91K	$615K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0585%	1h	0.000004794	−0.021%	$81K	$94K	25x	as long as short
BingX 1000PEPE-USDT	+0.0728%	8h	0.000004796	+0.013%	—	$256.4M	—	as long as short
Binance 1000PEPEUSDT	+0.0750%	8h	0.000004793	−0.040%	$130.4M	$1.04B	75x	as long as short
Extended 1000PEPE-USD	+0.0752%	1h	0.000004793	−0.040%	$526K	$148K	25x	as long as short
Aevo 1000PEPE-PERPlong	+0.0752%	1h	0.000004795	long leg	$136K	—	3x
Nado kPEPE-PERP	+0.0754%	1h	0.000004792	−0.066%	$184K	$845K	10x	as long as short
MEXC PEPE_USDT	+0.0754%	8h	0.000004798	+0.073%	$91.5M	$285.8M	300x	as long as short
Aster 1000PEPEUSDT	+0.0764%	8h	0.000004792	−0.052%	$1.5M	$7.2M	50x	as long as short
Injective PEPE/USDC PERP	+0.0873%	1h	0.000004814	+0.396%	$4K	$103K	12x	as long as short
Kraken Futures PF_PEPEUSD	+0.1330%	1h	0.000004795	−0.010%	$3.9M	$13.3M	50x	as long as short