Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0692%/8h= +75.8% APRpaid last 24h +0.042%

Price spread now: Aevo against Gate+0.478%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,182as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,142as in the Price arb table

costs, in and out, $10k−$1,18811.882% of the position

Long on Gate Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.066%+$7 on $10k

Price spread, last 3 days (all we have)−0.165%−$17 · spread now +0.478%, 7d avg +0.014%

Together, before fees−0.099%−$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Aevo is 0.464% dearer against Gate than usual: you sell high and buy low: +$46 more if the spread goes back to its 7-day average of +0.014%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.066% in total (about 3.5% 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	Gate PEPE_USDT	0.000004808	0.0100	pay 0.0100% / 8h	2h 53m	$147.1M	$60.2M	75x
Short	Aevo 1000PEPE-PERP	0.000004831	0.0792	get 0.0099% / 1h	53m 43s	$137K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Gate. 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 GatebpFee AevobpOrdersPrice spread, now +0.478%Rate

Funding earned: $145.32
Price spread: +0.478% → +0.014%: $46.44
Slippage, 4 orders: −$1,157.2
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$996.44
Costs to cover: 11.882%
Break-even: 55.0 days

Slippage from Gate: live order book, 5 min ago; Aevo: live order book, 35 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 Gate live order book, 5 min ago	2.04 bp	16.0 bp −$16	20.8 bp −$208	67.6 bp −$6,757	doesn't fit
Sell Aevo live order book, 35 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	0.000004804	−0.084%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000004808	−0.008%	$13K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004815	+0.146%	$55.8M	$68.0M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004847	+0.811%	$58K	$108K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004813	+0.096%	$88.4M	$271.8M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0100%	8h	0.000004819	+0.229%	$41.2M	$485.9M	50x	as long as short
Gate PEPE_USDTlong	+0.0100%	8h	0.000004808	long leg	$147.1M	$60.2M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004812	+0.075%	$21.8M	$48.8M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004889	+1.695%	$719K	$3.8M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004893	+1.758%	$28K	$335K	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-USDT	+0.0100%	8h	0.000004820	+0.256%	$2K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004815	+0.144%	$555K	$3.5M	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0166%	1h	0.000004811	+0.062%	$81K	$94K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0172%	1h	0.000004810	+0.040%	$109K	$620K	15x	as long as short
Bitget PEPEUSDT	+0.0183%	8h	0.000004815	+0.137%	$43.1M	$146.3M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004814	+0.117%	$7K	—	15x	as long as short
Lighter 1000PEPE	+0.0200%	1h	0.000004809	+0.021%	$538K	$5.0M	10x	as long as short
BloFin PEPE-USDT	+0.0220%	8h	0.000004893	+1.768%	$4.0M	$21.6M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0310% / S −0.0264%	1h	0.000004000	−16.805%	$46K	—	100x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0346%	8h	0.000004812	+0.079%	$30K	$10K	20x	as long as short
Paradex kPEPE-USD-PERP	+0.0349%	8h	0.000004768	−0.825%	$5K	$16	20x	as long as short
Phemex u1000PEPEUSDT	+0.0453%	8h	0.000004814	+0.119%	$2.3M	$6.3M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004828	+0.416%	$562K	$25.2M	50x	as long as short
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004902	+1.955%	$4K	$92K	12x	as long as short
SoDEX 1000PEPE-USD	+0.0624%	1h	0.000004825	+0.354%	$2K	$9K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0699%	1h	0.000004891	+1.726%	$101K	$755K	25x	as long as short
Nado kPEPE-PERP	+0.0728%	1h	0.000004807	−0.021%	$180K	$868K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0759%	1h	0.000004824	+0.328%	$3.8M	$12.7M	50x	as long as short
BingX 1000PEPE-USDC	+0.0763%	8h	0.000004806	−0.050%	—	$2.3M	—	as long as short
Binance 1000PEPEUSDT	+0.0791%	8h	0.000004808	−0.002%	$129.2M	$1.00B	75x	as long as short
Extended 1000PEPE-USD	+0.0792%	1h	0.000004811	+0.064%	$529K	$146K	25x	as long as short
MEXC PEPE_USDT	+0.0792%	8h	0.000004818	+0.214%	$99.0M	$285.3M	300x	as long as short
Aevo 1000PEPE-PERPshort	+0.0792%	1h	0.000004831	+0.478%	$137K	—	3x
01 Exchange kPEPEUSD	+0.0816%	1h	0.000004901	+1.934%	$561	$2K	10x	as long as short
Aster 1000PEPEUSDT	+0.0841%	8h	0.000004821	+0.265%	$1.5M	$6.8M	50x	as long as short