PEPE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0169%/8h= +18.5% APRnext payment +$0.21 per $10,000 · paid last 24h −0.044%

Price spread now: Aevo against Backpack−0.058%46s7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$4,680as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$4,66646.657% of the position

Long on Backpack Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days−0.147%−$15 on $10k

Price spread, last 3 days (all we have)+0.344%+$34 · spread now −0.058%, 7d avg −0.006%

Together, before fees+0.197%+$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aevo is 0.052% cheaper against Backpack than usual: you would sell low and buy high (spread −0.058% now, against its 7-day average of −0.006%). If the spread goes back, that is −$5 on $10k: about 24 hours of funding at the current rate (+$5 a day). Mind the row above: over the last 7 days funding on this pair cost −0.147%, so the current rate has only just turned in your favour. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack kPEPE_USDC_PERP	0.000004830	0.0687	pay 0.0086% / 1h	14m 23s	$93K	$622K	15x
Short	Aevo 1000PEPE-PERP	0.000004827	0.0856	get 0.0107% / 1h	14m 23s	$136K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Backpack. 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 BackpackbpFee AevobpOrdersPrice spread, now −0.058%Rate

Funding earned: $35.43
Price spread: −0.058% → −0.006%: −$5.16
Slippage, 4 orders: −$4,639.67
Fee Backpack: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$4,635.39
Costs to cover: 46.657%
Break-even: 922.8 days

Slippage from Backpack: live order book, 9 min ago; Aevo: live order book, 9 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 Backpack live order book, 9 min ago	0.10 bp	13.7 bp −$14	36.5 bp −$365	doesn't fit	doesn't fit
Sell Aevo live order book, 9 min ago	408.35 bp	2936.7 bp −$2,937	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	0.000004819	−0.233%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004828	−0.033%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004834	+0.087%	$58.3M	$72.0M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004826	−0.079%	$60K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004830	+0.004%	$87.9M	$275.2M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004829	−0.017%	$150.8M	$62.2M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004832	+0.050%	$25.2M	$53.2M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004810	−0.404%	$559K	$3.8M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004820	−0.207%	$27K	$341K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004820	−0.205%	$2K	$2.4M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000004822	−0.151%	$555K	$3.4M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0164%	8h	0.000004834	+0.087%	$41.6M	$487.3M	50x	as long as short
Bitget PEPEUSDT	+0.0180%	8h	0.000004832	+0.054%	$42.7M	$151.0M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004835	+0.099%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0279%	8h	0.000004829	−0.017%	$3.9M	$21.8M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0318% / S −0.0217%	1h	0.000004000	−17.181%	$52K	—	100x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0409%	8h	0.000004836	+0.122%	$30K	$11K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004811	−0.389%	$579K	$25.1M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0467%	8h	0.000004821	−0.182%	$2.3M	$6.4M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0514%	8h	0.000004819	−0.214%	$5K	$16	20x	as long as short
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004817	−0.265%	$4K	$110K	12x	as long as short
Lighter 1000PEPE	+0.0616%	1h	0.000004829	−0.017%	$606K	$5.2M	10x	as long as short
Backpack kPEPE_USDC_PERPlong	+0.0687%	1h	0.000004830	long leg	$93K	$622K	15x
Nado kPEPE-PERP	+0.0729%	1h	0.000004833	+0.076%	$189K	$848K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0748%	1h	0.000004821	−0.182%	$102K	$762K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0760%	1h	0.000004821	−0.190%	$3.9M	$13.1M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0808%	1h	0.000004823	−0.141%	$2K	$9K	10x	as long as short
BingX 1000PEPE-USDT	+0.0813%	8h	0.000004835	+0.110%	—	$254.8M	—	as long as short
Extended 1000PEPE-USD	+0.0856%	1h	0.000004821	−0.172%	$529K	$147K	25x	as long as short
Aevo 1000PEPE-PERPshort	+0.0856%	1h	0.000004827	−0.058%	$136K	—	3x
MEXC PEPE_USDT	+0.0858%	8h	0.000004835	+0.101%	$91.8M	$291.6M	300x	as long as short
Binance 1000PEPEUSDT	+0.0863%	8h	0.000004838	+0.166%	$128.9M	$1.02B	75x	as long as short
Aster 1000PEPEUSDT	+0.0889%	8h	0.000004825	−0.089%	$1.5M	$6.8M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0996%	1h	0.000004822	−0.161%	$82K	$94K	25x	as long as short
01 Exchange kPEPEUSD	+0.1216%	1h	0.000004844	+0.294%	$555	$2K	10x	as long as short