Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0516%/8h= −56.5% APRpaid last 24h −0.063%

Price spread now: Gate against Aevo−0.084%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,179as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,177as in the Price arb table

costs, in and out, $10k−$1,17111.709% of the position

Long on Aevo Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.084%−$8 on $10k

Price spread, last 3 days (all we have)−0.111%−$11 · spread now −0.084%, 7d avg −0.024%

Together, before fees−0.195%−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Gate is 0.060% cheaper against Aevo than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.024%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.084% in total (about -4.4% 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	Aevo 1000PEPE-PERP	0.000004758	0.0616	pay 0.0077% / 1h	26m 08s	$135K	—	3x
Short	Gate PEPE_USDT	0.000004754	0.0100	get 0.0100% / 8h	26m 08s	$149.4M	$64.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Aevo. 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 AevobpFee GatebpOrdersPrice spread, now −0.084%Rate

Funding earned: −$108.36
Price spread: −0.084% → −0.024%: −$6.04
Slippage, 4 orders: −$1,139.91
Fee Aevo: 8 bp × 2 orders: −$16
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$1,285.32
Costs to cover: 11.709%
Break-even: never at this rate

Slippage from Aevo: live order book, 53 min ago; Gate: live order book, 3 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 Aevo live order book, 53 min ago	275.11 bp	560.4 bp −$560	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	2.10 bp	13.9 bp −$14	23.4 bp −$234	58.8 bp −$5,878	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	−0.0175%	1h	0.000004747	−0.231%	$66.5M	$93.5M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004753	−0.107%	$17K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000004752	−0.135%	$13K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0067%	1h	0.000004755	−0.055%	$3.8M	$13.7M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004756	−0.042%	$59K	$116K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004754	−0.086%	$85.7M	$290.4M	50x	as long as short
Gate PEPE_USDTshort	+0.0100%	8h	0.000004754	−0.084%	$149.4M	$64.5M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004753	−0.101%	$24.2M	$54.4M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004755	−0.061%	$42.0M	$150.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004753	−0.106%	$536K	$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	0.000004770	+0.253%	$25K	$348K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004769	+0.231%	$99K	$754K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004764	+0.120%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004757	−0.021%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004755	−0.063%	$539K	$3.5M	75x	as long as short
Lighter 1000PEPE	+0.0120%	1h	0.000004759	+0.021%	$591K	$6.4M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0182%	8h	0.000004755	−0.066%	$5K	$16	20x	as long as short
Phemex u1000PEPEUSDT	+0.0184%	8h	0.000004759	+0.015%	$2.3M	$6.5M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004755	−0.062%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0206%	8h	0.000004756	−0.042%	$41.4M	$494.5M	50x	as long as short
01 Exchange kPEPEUSD	+0.0264%	1h	0.000004758	0.000%	$545	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0324%	8h	0.000004766	+0.168%	$3.9M	$22.3M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0380% / S −0.0342%	1h	0.000004000	−15.931%	$46K	—	100x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0384%	8h	0.000004756	−0.048%	$30K	$12K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004757	−0.021%	$562K	$25.5M	50x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004767	+0.189%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0591%	1h	0.000004756	−0.050%	$90K	$602K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0592%	1h	0.000004756	−0.042%	$77K	$98K	25x	as long as short
BingX 1000PEPE-USDT	+0.0598%	8h	0.000004756	−0.048%	—	$256.9M	—	as long as short
Extended 1000PEPE-USD	+0.0608%	1h	0.000004756	−0.038%	$524K	$148K	25x	as long as short
Aster 1000PEPEUSDT	+0.0610%	8h	0.000004758	−0.007%	$1.5M	$7.3M	50x	as long as short
Binance 1000PEPEUSDT	+0.0610%	8h	0.000004757	−0.015%	$131.1M	$1.06B	75x	as long as short
MEXC PEPE_USDT	+0.0613%	8h	0.000004759	+0.011%	$91.0M	$281.3M	300x	as long as short
Aevo 1000PEPE-PERPlong	+0.0616%	1h	0.000004758	long leg	$135K	—	3x
Nado kPEPE-PERP	+0.0671%	1h	0.000004754	−0.084%	$182K	$849K	10x	as long as short