Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0652%/8h= −71.4% APRpaid last 24h −0.036%

Price spread now: SunX against Aevo+0.065%7-day average +0.173% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,269as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,281as in the Price arb table

costs, in and out, $10k−$1,27012.700% of the position

Long on Aevo Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 3 days (all we have)+0.024%+$2 · spread now +0.065%, 7d avg +0.173%

Together, before fees+0.030%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and SunX is 0.108% cheaper against Aevo than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.173%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.007% in total (about 0.4% 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	0.000004793	0.0752	pay 0.0094% / 1h	8m 48s	$136K	—	3x
Short	SunX 1000PEPE-USDT	0.000004796	0.0100	get 0.0100% / 8h	1h 08m	$1K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.065%Rate

Funding earned: −$136.92
Price spread: +0.065% → +0.173%: −$10.8
Slippage, 4 orders: −$1,245.99
Fee Aevo: 8 bp × 2 orders: −$16
Fee SunX: 4 bp × 2 orders: −$8
Net: −$1,417.71
Costs to cover: 12.700%
Break-even: never at this rate

Slippage from Aevo: live order book, 10 min ago; SunX: live order book, 7 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, 10 min ago	275.11 bp	560.4 bp −$560	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	29.07 bp	78.4 bp −$78	doesn't fit	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	0.000004789	−0.093%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004784	−0.196%	$14K	—	150x	as long as short
Lighter 1000PEPE	+0.0096%	1h	0.000004789	−0.083%	$668K	$6.0M	10x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004784	−0.188%	$62.9M	$83.3M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004792	−0.021%	$59K	$114K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004790	−0.063%	$87.0M	$283.3M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004786	−0.146%	$150.5M	$63.5M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004788	−0.094%	$24.7M	$54.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004794	+0.018%	$543K	$4.0M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004796	+0.057%	$28K	$344K	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-USDTshort	+0.0100%	8h	0.000004796	+0.065%	$1K	$2.4M	20x
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004789	−0.083%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004787	−0.127%	$540K	$3.5M	75x	as long as short
Bitget PEPEUSDT	+0.0110%	8h	0.000004792	−0.025%	$42.1M	$148.8M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004789	−0.086%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0219%	8h	0.000004790	−0.063%	$41.4M	$491.3M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0268%	8h	0.000004793	+0.010%	$5K	$16	20x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0330% / S −0.0357%	1h	0.000004000	−16.545%	$43K	—	100x	as long as short
BloFin PEPE-USDT	+0.0339%	8h	0.000004790	−0.063%	$3.9M	$22.1M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0342%	8h	0.000004789	−0.083%	$2.3M	$6.4M	50x	as long as short
01 Exchange kPEPEUSD	+0.0400%	1h	0.000004794	+0.021%	$549	$2K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0447%	1h	0.000004792	−0.021%	$101K	$763K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0448%	1h	0.000004791	−0.042%	$581K	$25.4M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0450%	8h	0.000004790	−0.073%	$29K	$11K	20x	as long as short
Backpack kPEPE_USDC_PERP	+0.0553%	1h	0.000004787	−0.121%	$91K	$615K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0586%	1h	0.000004789	−0.083%	$81K	$94K	25x	as long as short
BingX 1000PEPE-USDC	+0.0735%	8h	0.000004791	−0.035%	—	$2.3M	—	as long as short
Extended 1000PEPE-USD	+0.0744%	1h	0.000004792	−0.016%	$526K	$148K	25x	as long as short
Binance 1000PEPEUSDT	+0.0745%	8h	0.000004793	−0.004%	$130.4M	$1.04B	75x	as long as short
MEXC PEPE_USDT	+0.0750%	8h	0.000004798	+0.098%	$91.8M	$285.9M	300x	as long as short
Nado kPEPE-PERP	+0.0750%	1h	0.000004791	−0.031%	$184K	$845K	10x	as long as short
Aevo 1000PEPE-PERPlong	+0.0752%	1h	0.000004793	long leg	$136K	—	3x
Aster 1000PEPEUSDT	+0.0764%	8h	0.000004791	−0.033%	$1.5M	$7.2M	50x	as long as short
Injective PEPE/USDC PERP	+0.0873%	1h	0.000004795	+0.042%	$4K	$103K	12x	as long as short
Kraken Futures PF_PEPEUSD	+0.1332%	1h	0.000004788	−0.105%	$3.9M	$13.3M	50x	as long as short