Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0007%/8h= −0.8% APRpaid last 24h +0.021%

Price spread now: Aevo against Binance+0.037%58s7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$2,103as 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−$2,10521.055% of the position

Long on Binance Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.025%+$2 on $10k

Price spread, last 3 days (all we have)+0.043%+$4 · spread now +0.037%, 7d avg −0.016%

Together, before fees+0.068%+$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aevo is 0.053% dearer against Binance than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.016%. The two prices were read 58 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	Binance 1000PEPEUSDT	0.000005053	0.0512	pay 0.0512% / 8h	6h 29m	$142.5M	$1.16B	75x
Short	Aevo 1000PEPE-PERP	0.000005055	0.0504	get 0.0063% / 1h	29m 21s	$143K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Binance. 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 BinancebpFee AevobpOrdersPrice spread, now +0.037%Rate

Funding earned: −$1.57
Price spread: +0.037% → −0.016%: $5.28
Slippage, 4 orders: −$2,079.46
Fee Binance: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$2,101.75
Costs to cover: 21.055%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; Aevo: live order book, 39 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 Binance live order book, 15 min ago	0.10 bp	6.7 bp −$7	18.1 bp −$181	52.4 bp −$5,243	doesn't fit
Sell Aevo live order book, 39 min ago	440.51 bp	1062.3 bp −$1,062	doesn't fit	doesn't fit	doesn't fit

PEPE on 34 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	0.000005067	+0.266%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005047	−0.123%	$14K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005074	+0.413%	$62K	$125K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005047	−0.122%	$98.2M	$321.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005054	+0.017%	$161.8M	$70.5M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005059	+0.108%	$25.0M	$60.0M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005057	+0.078%	$46.5M	$159.9M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005030	−0.463%	$565K	$4.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005036	−0.334%	$27K	$409K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005045	−0.153%	$2K	$2.4M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005060	+0.138%	$571K	$3.6M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0188%	8h	0.000005078	+0.488%	$2.4M	$6.8M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005058	+0.095%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0226%	8h	0.000005050	−0.062%	$44.8M	$564.3M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0277%	8h	0.000005049	−0.084%	$33K	$23K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0340%	1h	0.000005036	−0.339%	$106K	$746K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0424%	1h	0.000005086	+0.650%	$665K	$29.2M	50x	as long as short
BingX 1000PEPE-USDT	+0.0482%	8h	0.000005052	−0.030%	—	$258.5M	—	as long as short
Aevo 1000PEPE-PERPshort	+0.0504%	1h	0.000005055	+0.037%	$143K	—	3x
GMX PEPE/USD [ETH-USDC]	L +0.0507% / S −0.0412%	1h	0.000005000	−1.052%	$63K	—	100x	as long as short
MEXC PEPE_USDT	+0.0511%	8h	0.000005050	−0.056%	$95.4M	$289.8M	300x	as long as short
Binance 1000PEPEUSDTlong	+0.0512%	8h	0.000005053	long leg	$142.5M	$1.16B	75x
Extended 1000PEPE-USD	+0.0512%	1h	0.000005067	+0.279%	$557K	$199K	25x	as long as short
Paradex kPEPE-USD-PERP	+0.0535%	8h	0.000005071	+0.353%	$6K	$16	20x	as long as short
Nado kPEPE-PERP	+0.0599%	1h	0.000005058	+0.096%	$178K	$878K	10x	as long as short
Aster 1000PEPEUSDT	+0.0601%	8h	0.000005064	+0.212%	$1.7M	$8.1M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0645%	1h	0.000005082	+0.571%	$2K	$12K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0819%	1h	0.000005082	+0.577%	$4.0M	$14.5M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0908%	1h	0.000005078	+0.498%	$102K	$616K	15x	as long as short
Injective PEPE/USDC PERP	+0.0909%	1h	0.000005052	−0.023%	$4K	$102K	12x	as long as short
01 Exchange kPEPEUSD	+0.0992%	1h	0.000005074	+0.413%	$1K	$2K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.1334%	1h	0.000005058	+0.096%	$61K	$114K	25x	as long as short
Lighter 1000PEPE	+0.1448%	1h	0.000005082	+0.571%	$1.1M	$7.3M	10x	as long as short
Hyperliquid kPEPE	+0.2257%	1h	0.000005067	+0.274%	$55.8M	$135.6M	10x	as long as short