Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0217%/8h= −23.8% APRpaid last 24h −0.038%

Price spread now: Orderly against Aevo+0.049%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Aevo Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Orderly is 0.049% dearer against Aevo than usual: you sell high and buy low (spread +0.049% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo 1000PEPE-PERP	0.000004904	0.0520	pay 0.0065% / 1h	39m 41s	$139K	—	3x
Short	Orderly PERP_1000PEPE_USDC	0.000004906	0.0303	get 0.0303% / 8h	7h 39m	$30K	$13K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.049%Rate

Funding earned: −$45.55
Price spread: +0.049% → 0.000%: $4.89
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$62.66
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Aevo: live order book, 34 min ago; Orderly: no order-book sample. Net counts fees only.

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, 34 min ago	273.02 bp	579.1 bp −$579	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.000004905	+0.013%	$3.9M	$13.9M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004903	−0.016%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004901	−0.059%	$15K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004911	+0.143%	$60.4M	$111.1M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004907	+0.061%	$58K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004905	+0.020%	$90.1M	$300.9M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004904	0.000%	$156.1M	$65.4M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004907	+0.059%	$24.9M	$56.1M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004900	−0.082%	$43.0M	$152.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004891	−0.270%	$572K	$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	0.000004881	−0.465%	$26K	$350K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004912	+0.163%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004901	−0.061%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004905	+0.020%	$557K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000004900	−0.084%	$2.3M	$6.6M	50x	as long as short
Lighter 1000PEPE	+0.0176%	1h	0.000004911	+0.143%	$575K	$6.7M	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004901	−0.052%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0189%	8h	0.000004904	0.000%	$43.3M	$519.7M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0190%	8h	0.000004904	0.000%	$5K	$16	20x	as long as short
Orderly PERP_1000PEPE_USDCshort	+0.0303%	8h	0.000004906	+0.049%	$30K	$13K	20x
BloFin PEPE-USDT	+0.0312%	8h	0.000004897	−0.143%	$4.0M	$23.1M	75x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000004903	−0.020%	$549K	$26.5M	50x	as long as short
Nado kPEPE-PERP	+0.0399%	1h	0.000004901	−0.058%	$187K	$849K	10x	as long as short
01 Exchange kPEPEUSD	+0.0440%	1h	0.000004897	−0.143%	$1K	$2K	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0453% / S −0.0673%	1h	0.000004000	−18.434%	$46K	—	100x	as long as short
BingX 1000PEPE-USDC	+0.0504%	8h	0.000004903	−0.012%	—	$2.3M	—	as long as short
Binance 1000PEPEUSDT	+0.0514%	8h	0.000004910	+0.115%	$137.6M	$1.09B	75x	as long as short
MEXC PEPE_USDT	+0.0517%	8h	0.000004904	−0.002%	$98.0M	$281.8M	300x	as long as short
Extended 1000PEPE-USD	+0.0520%	1h	0.000004903	−0.030%	$538K	$148K	25x	as long as short
Aevo 1000PEPE-PERPlong	+0.0520%	1h	0.000004904	long leg	$139K	—	3x
Aster 1000PEPEUSDT	+0.0531%	8h	0.000004907	+0.062%	$1.5M	$7.5M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0584%	1h	0.000004902	−0.033%	$92K	$599K	15x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0588%	1h	0.000004871	−0.673%	$101K	$754K	25x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000004898	−0.122%	$4K	$102K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0770%	1h	0.000004906	+0.041%	$74K	$103K	25x	as long as short