Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0617%/8h= +67.6% APRpaid last 24h +0.014%

Price spread now: Aevo against Bitget−0.266%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,175as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,205as in the Price arb table

costs, in and out, $10k−$1,18111.812% of the position

Long on Bitget Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.062%+$6 on $10k

Price spread, last 3 days (all we have)+0.545%+$54 · spread now −0.266%, 7d avg −0.028%

Together, before fees+0.606%+$61 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aevo is 0.238% cheaper against Bitget than usual: you would sell low and buy high (spread −0.266% now, against its 7-day average of −0.028%). If the spread goes back, that is −$24 on $10k: about 31 hours of funding at the current rate (+$19 a day). At the pace of the last 7 days (+0.062% in total) that is about 27 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.062% in total (about 3.2% 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	Bitget PEPEUSDT	0.000004896	0.0183	pay 0.0183% / 8h	2h 56m	$45.9M	$136.2M	75x
Short	Aevo 1000PEPE-PERP	0.000004883	0.0800	get 0.0100% / 1h	56m 02s	$138K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Bitget. 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 BitgetbpFee AevobpOrdersPrice spread, now −0.266%Rate

Funding earned: $129.57
Price spread: −0.266% → −0.028%: −$23.77
Slippage, 4 orders: −$1,153.16
Fee Bitget: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$1,075.36
Costs to cover: 11.812%
Break-even: 65.1 days

Slippage from Bitget: live order book, 3 min ago; Aevo: live order book, 32 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 Bitget live order book, 3 min ago	2.05 bp	9.3 bp −$9	11.1 bp −$111	29.5 bp −$2,946	doesn't fit
Sell Aevo live order book, 32 min ago	271.04 bp	587.9 bp −$588	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	0.000004891	−0.102%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004888	−0.153%	$15K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004896	0.000%	$56.8M	$67.1M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004896	0.000%	$58K	$108K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004891	−0.102%	$88.6M	$265.8M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0100%	8h	0.000004897	+0.020%	$42.8M	$485.2M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004891	−0.102%	$149.1M	$59.6M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004890	−0.131%	$25.0M	$49.6M	75x	as long as short
Backpack kPEPE_USDC_PERP	+0.0100%	1h	0.000004896	+0.006%	$97K	$591K	15x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004925	+0.584%	$724K	$3.8M	—	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	0.000004915	+0.386%	$28K	$337K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004897	+0.016%	$2K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004896	+0.006%	$563K	$3.5M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0141%	1h	0.000004896	0.000%	$2K	$9K	10x	as long as short
Bitget PEPEUSDTlong	+0.0183%	8h	0.000004896	long leg	$45.9M	$136.2M	75x
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004893	−0.071%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0220%	8h	0.000004892	−0.082%	$4.0M	$21.6M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0312% / S −0.0262%	1h	0.000004000	−18.301%	$48K	—	100x	as long as short
Lighter 1000PEPE	+0.0320%	1h	0.000004896	0.000%	$588K	$4.9M	10x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0345%	8h	0.000004896	0.000%	$31K	$10K	20x	as long as short
Paradex kPEPE-USD-PERP	+0.0354%	8h	0.000004887	−0.190%	$5K	$26	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0381%	1h	0.000004904	+0.163%	$101K	$754K	25x	as long as short
Phemex u1000PEPEUSDT	+0.0437%	8h	0.000004893	−0.063%	$2.4M	$6.2M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004887	−0.184%	$628K	$25.0M	50x	as long as short
01 Exchange kPEPEUSD	+0.0504%	1h	0.000004891	−0.102%	$560	$2K	10x	as long as short
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004898	+0.041%	$4K	$92K	12x	as long as short
Nado kPEPE-PERP	+0.0646%	1h	0.000004891	−0.103%	$193K	$845K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0748%	1h	0.000004896	−0.002%	$3.9M	$12.5M	50x	as long as short
BingX 1000PEPE-USDC	+0.0767%	8h	0.000004897	+0.025%	—	$2.3M	—	as long as short
Extended 1000PEPE-USD	+0.0792%	1h	0.000004897	+0.022%	$537K	$146K	25x	as long as short
Binance 1000PEPEUSDT	+0.0792%	8h	0.000004895	−0.012%	$131.5M	$991.9M	75x	as long as short
MEXC PEPE_USDT	+0.0796%	8h	0.000004900	+0.071%	$125.8M	$279.1M	300x	as long as short
Aevo 1000PEPE-PERPshort	+0.0800%	1h	0.000004883	−0.266%	$138K	—	3x
Aster 1000PEPEUSDT	+0.0857%	8h	0.000004891	−0.098%	$1.5M	$6.9M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0977%	1h	0.000004895	−0.020%	$79K	$91K	25x	as long as short