Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0005%/8h= +0.5% APRpaid last 24h +0.061%

Price spread now: Aevo against MEXC−0.278%56s7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,142as 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−$1,14711.474% of the position

Long on MEXC Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.059%+$6 on $10k

Price spread, last 3 days (all we have)+0.470%+$47 · spread now −0.278%, 7d avg −0.039%

Together, before fees+0.529%+$53 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 0.239% cheaper against MEXC than usual: you would sell low and buy high, −$24 on $10k if it goes back to its 7-day average of −0.039%. The two prices were read 56 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	MEXC PEPE_USDT	0.000004819	0.0699	pay 0.0699% / 8h	51m 25s	$96.4M	$278.9M	300x
Short	Aevo 1000PEPE-PERP	0.000004806	0.0704	get 0.0088% / 1h	51m 25s	$136K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against MEXC. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 MEXCbpFee AevobpOrdersPrice spread, now −0.278%Rate

Funding earned: $1.05
Price spread: −0.278% → −0.039%: −$23.89
Slippage, 4 orders: −$1,131.36
Fee MEXC: 0 bp × 2 orders: $0
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$1,170.2
Costs to cover: 11.474%
Break-even: 7808.3 days

Slippage from MEXC: live order book, 3 min ago; Aevo: live order book, 27 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 MEXC live order book, 3 min ago	0.94 bp	1.6 bp −$2	14.5 bp −$145	49.2 bp −$4,922	83.3 bp −$41.6K
Sell Aevo live order book, 27 min ago	275.11 bp	584.0 bp −$584	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
Hyperliquid kPEPE	−0.0205%	1h	0.000004810	−0.195%	$66.9M	$87.3M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004810	−0.199%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004816	−0.068%	$14K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0066%	1h	0.000004807	−0.261%	$3.9M	$13.4M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004815	−0.091%	$60K	$114K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004818	−0.029%	$86.7M	$287.3M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004814	−0.112%	$151.0M	$63.9M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004817	−0.044%	$24.7M	$54.3M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004817	−0.048%	$42.5M	$149.5M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004798	−0.447%	$596K	$4.1M	—	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	0.000004806	−0.273%	$28K	$344K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004814	−0.108%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004807	−0.257%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004807	−0.255%	$544K	$3.5M	75x	as long as short
Lighter 1000PEPE	+0.0184%	1h	0.000004820	+0.012%	$636K	$6.3M	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004817	−0.052%	$7K	—	15x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0214%	1h	0.000004796	−0.486%	$100K	$760K	25x	as long as short
OKX PEPE-USDT-SWAP	+0.0219%	8h	0.000004819	−0.008%	$41.8M	$499.1M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0219%	8h	0.000004817	−0.053%	$5K	$16	20x	as long as short
01 Exchange kPEPEUSD	+0.0240%	1h	0.000004819	−0.008%	$552	$2K	10x	as long as short
Phemex u1000PEPEUSDT	+0.0259%	8h	0.000004807	−0.257%	$2.3M	$6.4M	50x	as long as short
BloFin PEPE-USDT	+0.0339%	8h	0.000004804	−0.320%	$3.9M	$22.3M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0354% / S −0.0391%	1h	0.000004000	−17.002%	$43K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004812	−0.154%	$577K	$25.7M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0434%	8h	0.000004820	+0.012%	$30K	$12K	20x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004804	−0.320%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0578%	1h	0.000004808	−0.237%	$91K	$602K	15x	as long as short
BingX 1000PEPE-USDC	+0.0693%	8h	0.000004813	−0.131%	—	$2.3M	—	as long as short
Extended 1000PEPE-USD	+0.0696%	1h	0.000004817	−0.042%	$529K	$148K	25x	as long as short
MEXC PEPE_USDTlong	+0.0699%	8h	0.000004819	long leg	$96.4M	$278.9M	300x
Binance 1000PEPEUSDT	+0.0700%	8h	0.000004820	+0.018%	$132.3M	$1.05B	75x	as long as short
Aevo 1000PEPE-PERPshort	+0.0704%	1h	0.000004806	−0.278%	$136K	—	3x
Aster 1000PEPEUSDT	+0.0705%	8h	0.000004820	+0.008%	$1.5M	$7.2M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0791%	1h	0.000004807	−0.257%	$81K	$94K	25x	as long as short
Nado kPEPE-PERP	+0.0835%	1h	0.000004817	−0.041%	$184K	$845K	10x	as long as short