Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0708%/8h= +77.5% APRpaid last 24h +0.024%

Price spread now: Aevo against SunX+0.017%7-day average −0.178% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,290as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,269as in the Price arb table

costs, in and out, $10k−$1,28812.881% of the position

Long on SunX Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days−0.017%−$2 on $10k

Price spread, last 3 days (all we have)−0.053%−$5 · spread now +0.017%, 7d avg −0.178%

Together, before fees−0.070%−$7 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 0.195% dearer against SunX than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of −0.178%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.017% in total (about -0.9% 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	SunX 1000PEPE-USDT	0.000004807	0.0100	pay 0.0100% / 8h	2h 34m	$1K	$2.4M	20x
Short	Aevo 1000PEPE-PERP	0.000004808	0.0808	get 0.0101% / 1h	34m 50s	$136K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against SunX. 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 SunXbpFee AevobpOrdersPrice spread, now +0.017%Rate

Funding earned: $148.68
Price spread: +0.017% → −0.178%: $19.48
Slippage, 4 orders: −$1,264.14
Fee SunX: 4 bp × 2 orders: −$8
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$1,119.98
Costs to cover: 12.881%
Break-even: 59.7 days

Slippage from SunX: live order book, 1 min ago; Aevo: live order book, 53 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 SunX live order book, 1 min ago	29.13 bp	47.1 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Aevo live order book, 53 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	0.000004793	−0.288%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004795	−0.258%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004801	−0.129%	$56.6M	$69.9M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004801	−0.129%	$59K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004798	−0.191%	$88.6M	$273.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004798	−0.191%	$148.5M	$61.7M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004800	−0.144%	$23.7M	$52.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004799	−0.164%	$705K	$3.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004821	+0.287%	$27K	$337K	20x	as long as short
SunX 1000PEPE-USDTlong	+0.0100%	8h	0.000004807	long leg	$1K	$2.4M	20x

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000004805	−0.050%	$553K	$3.6M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0125%	8h	0.000004803	−0.087%	$41.3M	$487.8M	50x	as long as short
Bitget PEPEUSDT	+0.0168%	8h	0.000004803	−0.089%	$43.3M	$152.1M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004803	−0.083%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0241%	8h	0.000004806	−0.025%	$3.9M	$21.7M	75x	as long as short
Lighter 1000PEPE	+0.0248%	1h	0.000004802	−0.108%	$591K	$5.1M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0318% / S −0.0217%	1h	0.000004000	−16.791%	$52K	—	100x	as long as short
Paradex kPEPE-USD-PERP	+0.0355%	8h	0.000004799	−0.173%	$5K	$16	20x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0373%	8h	0.000004800	−0.150%	$30K	$10K	20x	as long as short
Backpack kPEPE_USDC_PERP	+0.0423%	1h	0.000004805	−0.052%	$95K	$623K	15x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004802	−0.108%	$584K	$25.3M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0467%	8h	0.000004805	−0.052%	$2.3M	$6.3M	50x	as long as short
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004805	−0.046%	$4K	$92K	12x	as long as short
SoDEX 1000PEPE-USD	+0.0582%	1h	0.000004801	−0.129%	$2K	$9K	10x	as long as short
Nado kPEPE-PERP	+0.0665%	1h	0.000004800	−0.142%	$179K	$865K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0670%	1h	0.000004816	+0.183%	$100K	$758K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0763%	1h	0.000004802	−0.112%	$3.9M	$13.0M	50x	as long as short
BingX 1000PEPE-USDT	+0.0767%	8h	0.000004803	−0.087%	—	$254.8M	—	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0792%	1h	0.000004802	−0.108%	$81K	$94K	25x	as long as short
Extended 1000PEPE-USD	+0.0808%	1h	0.000004804	−0.071%	$526K	$146K	25x	as long as short
Aevo 1000PEPE-PERPshort	+0.0808%	1h	0.000004808	+0.017%	$136K	—	3x
Binance 1000PEPEUSDT	+0.0809%	8h	0.000004805	−0.052%	$127.4M	$1.02B	75x	as long as short
MEXC PEPE_USDT	+0.0810%	8h	0.000004803	−0.092%	$89.6M	$289.3M	300x	as long as short
Aster 1000PEPEUSDT	+0.0849%	8h	0.000004801	−0.138%	$1.5M	$6.8M	50x	as long as short
01 Exchange kPEPEUSD	+0.1240%	1h	0.000004813	+0.121%	$551	$2K	10x	as long as short