Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0235%/8h= +25.8% APRpaid last 24h +0.043%

Price spread now: Aevo against Orderly−0.091%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Aevo is 0.091% cheaper against Orderly than usual: you would sell low and buy high (spread −0.091% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 31 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_1000PEPE_USDC	0.000005075	0.0277	pay 0.0277% / 8h	6h 27m	$33K	$23K	20x
Short	Aevo 1000PEPE-PERP	0.000005070	0.0512	get 0.0064% / 1h	27m 43s	$143K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Orderly. 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 OrderlybpFee AevobpOrdersPrice spread, now −0.091%Rate

Funding earned: $49.45
Price spread: −0.091% → 0.000%: −$9.06
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Aevo: 8 bp × 2 orders: −$16
Net: $18.38
Costs to cover: 0.220%
Break-even: 4.4 days

Slippage unknown: Orderly: no order-book sample; Aevo: live order book, 41 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 Orderly no order-book sample	—	—	—	—	—
Sell Aevo live order book, 41 min ago	440.51 bp	1062.3 bp −$1,062	doesn't fit	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

PEPE on 34 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	0.000005042	−0.648%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005061	−0.270%	$14K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005050	−0.485%	$61K	$125K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005060	−0.290%	$98.5M	$321.7M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005061	−0.268%	$161.3M	$70.6M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005066	−0.179%	$25.1M	$60.2M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005062	−0.254%	$46.5M	$160.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005030	−0.884%	$565K	$4.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005036	−0.756%	$27K	$409K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005070	−0.097%	$2K	$2.4M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005049	−0.497%	$569K	$3.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005069	−0.120%	$8K	—	15x	as long as short
Phemex u1000PEPEUSDT	+0.0204%	8h	0.000005060	−0.280%	$2.4M	$6.9M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0227%	8h	0.000005064	−0.209%	$44.9M	$566.2M	50x	as long as short
Orderly PERP_1000PEPE_USDClong	+0.0277%	8h	0.000005075	long leg	$33K	$23K	20x
ApeX Omni 1000PEPEUSDT	+0.0340%	1h	0.000005036	−0.761%	$106K	$746K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0424%	1h	0.000005063	−0.229%	$656K	$29.2M	50x	as long as short
BingX 1000PEPE-USDC	+0.0479%	8h	0.000005061	−0.266%	—	$2.3M	—	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0507% / S −0.0412%	1h	0.000005000	−1.470%	$63K	—	100x	as long as short
MEXC PEPE_USDT	+0.0511%	8h	0.000005059	−0.307%	$95.7M	$289.9M	300x	as long as short
Aevo 1000PEPE-PERPshort	+0.0512%	1h	0.000005070	−0.091%	$143K	—	3x
Binance 1000PEPEUSDT	+0.0518%	8h	0.000005063	−0.230%	$143.0M	$1.16B	75x	as long as short
Extended 1000PEPE-USD	+0.0520%	1h	0.000005062	−0.253%	$557K	$199K	25x	as long as short
Paradex kPEPE-USD-PERP	+0.0539%	8h	0.000005050	−0.495%	$6K	$16	20x	as long as short
Aster 1000PEPEUSDT	+0.0609%	8h	0.000005067	−0.146%	$1.7M	$8.1M	50x	as long as short
Nado kPEPE-PERP	+0.0614%	1h	0.000005065	−0.197%	$178K	$878K	10x	as long as short
SoDEX 1000PEPE-USD	+0.0615%	1h	0.000005067	−0.150%	$2K	$12K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0737%	1h	0.000005073	−0.032%	$62K	$114K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0822%	1h	0.000005066	−0.168%	$4.0M	$14.5M	50x	as long as short
Injective PEPE/USDC PERP	+0.0909%	1h	0.000005061	−0.268%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0923%	1h	0.000005069	−0.116%	$102K	$616K	15x	as long as short
01 Exchange kPEPEUSD	+0.0984%	1h	0.000005064	−0.209%	$1K	$2K	10x	as long as short
Lighter 1000PEPE	+0.1472%	1h	0.000005077	+0.047%	$1.1M	$7.4M	10x	as long as short
Hyperliquid kPEPE	+0.2236%	1h	0.000005072	−0.051%	$55.9M	$135.7M	10x	as long as short