Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0780%/8h= +85.4% APRpaid last 24h +0.036%

Price spread now: Aevo against HTX−0.409%7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$4,673as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4,711as in the Price arb table

costs, in and out, $10k−$4,67346.728% of the position

Long on HTX Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days−0.007%−$1 on $10k

Price spread, last 3 days (all we have)+0.568%+$57 · spread now −0.409%, 7d avg −0.030%

Together, before fees+0.561%+$56 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aevo is 0.379% cheaper against HTX than usual: you would sell low and buy high (spread −0.409% now, against its 7-day average of −0.030%). If the spread goes back, that is −$38 on $10k: about 39 hours of funding at the current rate (+$23 a day).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.007% in total (about -0.4% 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	HTX PEPE-USDT	0.000004885	0.0100	pay 0.0100% / 8h	1h 52m	$557K	$3.5M	75x
Short	Aevo 1000PEPE-PERP	0.000004865	0.0880	get 0.0110% / 1h	52m 38s	$138K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against HTX. 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 HTXbpFee AevobpOrdersPrice spread, now −0.409%Rate

Funding earned: $163.8
Price spread: −0.409% → −0.030%: −$37.93
Slippage, 4 orders: −$4,644.77
Fee HTX: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$4,546.9
Costs to cover: 46.728%
Break-even: 201.3 days

Slippage from HTX: live order book, 1 min ago; Aevo: live order book, 31 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 HTX live order book, 1 min ago	5.63 bp	14.5 bp −$14	28.3 bp −$283	doesn't fit	doesn't fit
Sell Aevo live order book, 31 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	0.000004871	−0.297%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004871	−0.295%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004874	−0.225%	$60.3M	$74.9M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004876	−0.184%	$60K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004880	−0.108%	$89.0M	$277.9M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004872	−0.266%	$152.3M	$62.0M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004878	−0.135%	$25.1M	$53.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004876	−0.182%	$556K	$3.9M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004899	+0.285%	$28K	$341K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004883	−0.031%	$1K	$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-USDTlong	+0.0100%	8h	0.000004885	long leg	$557K	$3.5M	75x
Lighter 1000PEPE	+0.0176%	1h	0.000004879	−0.123%	$648K	$5.4M	10x	as long as short
Bitget PEPEUSDT	+0.0178%	8h	0.000004879	−0.113%	$43.0M	$151.3M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004877	−0.164%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0203%	8h	0.000004883	−0.041%	$41.9M	$495.4M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0233%	1h	0.000004878	−0.143%	$2K	$9K	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0318% / S −0.0215%	1h	0.000004000	−18.117%	$53K	—	100x	as long as short
BloFin PEPE-USDT	+0.0320%	8h	0.000004875	−0.205%	$3.8M	$22.3M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0434%	8h	0.000004878	−0.149%	$30K	$11K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0448%	1h	0.000004877	−0.164%	$605K	$25.5M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0456%	8h	0.000004873	−0.242%	$2.4M	$6.4M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0494%	8h	0.000004877	−0.160%	$5K	$16	20x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0571%	1h	0.000004876	−0.184%	$82K	$94K	25x	as long as short
Nado kPEPE-PERP	+0.0605%	1h	0.000004880	−0.108%	$189K	$849K	10x	as long as short
01 Exchange kPEPEUSD	+0.0680%	1h	0.000004883	−0.041%	$559	$2K	10x	as long as short
BingX 1000PEPE-USDT	+0.0841%	8h	0.000004879	−0.129%	—	$255.8M	—	as long as short
Injective PEPE/USDC PERP	+0.0873%	1h	0.000004886	+0.020%	$4K	$103K	12x	as long as short
Extended 1000PEPE-USD	+0.0880%	1h	0.000004878	−0.134%	$538K	$147K	25x	as long as short
Aevo 1000PEPE-PERPshort	+0.0880%	1h	0.000004865	−0.409%	$138K	—	3x
MEXC PEPE_USDT	+0.0881%	8h	0.000004882	−0.070%	$92.6M	$282.3M	300x	as long as short
Binance 1000PEPEUSDT	+0.0881%	8h	0.000004883	−0.048%	$131.0M	$1.03B	75x	as long as short
Aster 1000PEPEUSDT	+0.0911%	8h	0.000004878	−0.149%	$1.5M	$6.9M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0995%	1h	0.000004873	−0.250%	$93K	$614K	15x	as long as short
Kraken Futures PF_PEPEUSD	+0.1309%	1h	0.000004875	−0.209%	$4.0M	$13.2M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.2353%	1h	0.000004896	+0.225%	$104K	$764K	25x	as long as short