Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0564%/8h= +61.8% APRpaid last 24h +0.075%

Price spread now: Aevo against Bybit+0.299%7-day average +0.040% · you sell dearer than you buy

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

Long on Bybit Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.151%+$15 on $10k

Price spread, last 4 days (all we have)+0.026%+$3 · spread now +0.299%, 7d avg +0.040%

Together, before fees+0.177%+$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Aevo is 0.259% dearer against Bybit than usual: you sell high and buy low: +$26 more if the spread goes back to its 7-day average of +0.040%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.151% in total (about 7.9% 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	Bybit 1000PEPEUSDT	0.000005018	0.0100	pay 0.0100% / 8h	4h 50m	$97.7M	$344.0M	50x
Short	Aevo 1000PEPE-PERP	0.000005033	0.0664	get 0.0083% / 1h	50m 49s	$142K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Bybit. 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 BybitbpFee AevobpOrdersPrice spread, now +0.299%Rate

Funding earned: $118.44
Price spread: +0.299% → +0.040%: $25.86
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aevo: 8 bp × 2 orders: −$16
Net: $117.3
Costs to cover: 0.270%
Break-even: 0.1 days

Slippage unknown: Bybit: live order book, 3 min ago; Aevo: live order book, 8 min ago. 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 Bybit live order book, 3 min ago	0.99 bp	9.5 bp −$10	15.2 bp −$152	35.9 bp −$3,588	doesn't fit
Sell Aevo live order book, 8 min ago	695.47 bp	doesn't fit	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	0.000005016	−0.047%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005024	+0.116%	$14K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005032	+0.279%	$64K	$140K	10x	as long as short
Bybit 1000PEPEUSDTlong	+0.0100%	8h	0.000005018	long leg	$97.7M	$344.0M	50x
Gate PEPE_USDT	+0.0100%	8h	0.000005036	+0.359%	$166.5M	$75.4M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005040	+0.430%	$26.0M	$63.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005027	+0.172%	$675K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005050	+0.638%	$31K	$451K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005038	+0.407%	$1K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005030	+0.235%	$573K	$3.6M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PEPEUSDT	+0.0155%	8h	0.000005040	+0.432%	$46.2M	$174.3M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005028	+0.198%	$8K	—	15x	as long as short
Injective PEPE/USDC PERP	+0.0254%	1h	0.000005044	+0.518%	$3K	$102K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0329%	8h	0.000005031	+0.263%	$33K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0361%	8h	0.000005019	+0.020%	$45.2M	$591.1M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0465%	1h	0.000005031	+0.259%	$2K	$12K	10x	as long as short
BloFin PEPE-USDT	+0.0482%	8h	0.000005032	+0.279%	$4.3M	$25.1M	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0546%	1h	0.000005029	+0.219%	$71K	$124K	25x	as long as short
BingX 1000PEPE-USDC	+0.0625%	8h	0.000005035	+0.333%	—	$2.3M	—	as long as short
Aevo 1000PEPE-PERPshort	+0.0664%	1h	0.000005033	+0.299%	$142K	—	3x
MEXC PEPE_USDT	+0.0667%	8h	0.000005041	+0.454%	$93.5M	$286.4M	300x	as long as short
Binance 1000PEPEUSDT	+0.0668%	8h	0.000005024	+0.116%	$141.3M	$1.22B	75x	as long as short
Phemex u1000PEPEUSDT	+0.0671%	8h	0.000005035	+0.345%	$2.4M	$7.1M	50x	as long as short
Extended 1000PEPE-USD	+0.0672%	1h	0.000005038	+0.399%	$533K	$226K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0672%	1h	0.000005035	+0.339%	$964K	$31.7M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0673% / S −0.1048%	1h	0.000005000	−0.359%	$50K	—	100x	as long as short
Aster 1000PEPEUSDT	+0.0760%	8h	0.000005036	+0.366%	$1.8M	$9.2M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0799%	8h	0.000005030	+0.232%	$6K	—	20x	as long as short
Backpack kPEPE_USDC_PERP	+0.0820%	1h	0.000005037	+0.381%	$94K	$642K	15x	as long as short
Nado kPEPE-PERP	+0.0823%	1h	0.000005034	+0.320%	$193K	$876K	10x	as long as short
01 Exchange kPEPEUSD	+0.0928%	1h	0.000005037	+0.379%	$608	$3K	10x	as long as short
Lighter 1000PEPE	+0.1000%	1h	0.000005025	+0.139%	$600K	$8.2M	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.1091%	1h	0.000005048	+0.598%	$100K	$744K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.1295%	1h	0.000005028	+0.206%	$4.3M	$15.4M	50x	as long as short
Hyperliquid kPEPE	+0.1424%	1h	0.000005042	+0.478%	$54.0M	$139.9M	10x	as long as short