Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0399%/8h= −43.7% APRpaid last 24h −0.067%

Price spread now: Orderly against Aevo−0.094%7-day average — · you buy dearer than you sell

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

Long on Aevo Short on Orderly

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

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Orderly is 0.094% cheaper against Aevo than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo 1000PEPE-PERP	0.000005225	0.0800	pay 0.0100% / 1h	21m 12s	$148K	—	3x
Short	Orderly PERP_1000PEPE_USDC	0.000005220	0.0401	get 0.0401% / 8h	3h 21m	$35K	$26K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.094%Rate

Funding earned: −$83.84
Price spread: −0.094% → 0.000%: −$9.38
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$115.22
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Aevo: live order book, 33 min ago; Orderly: no order-book sample. 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 Aevo live order book, 33 min ago	1010.05 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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 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	0.000005219	−0.124%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005215	−0.197%	$14K	—	150x	as long as short
Injective PEPE/USDC PERP	+0.0092%	1h	0.000005327	+1.952%	$3K	$111K	12x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005224	−0.019%	$66K	$162K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005215	−0.193%	$106.6M	$381.5M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005216	−0.172%	$172.0M	$88.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005218	−0.128%	$26.0M	$68.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005215	−0.200%	$677K	$5.2M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005239	+0.265%	$29K	$534K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005223	−0.040%	$1K	$2.5M	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-USDT	+0.0100%	8h	0.000005221	−0.078%	$585K	$3.9M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005224	−0.019%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0307%	8h	0.000005224	−0.011%	$50.8M	$190.8M	75x	as long as short
Orderly PERP_1000PEPE_USDCshort	+0.0401%	8h	0.000005220	−0.094%	$35K	$26K	20x
OKX PEPE-USDT-SWAP	+0.0434%	8h	0.000005219	−0.115%	$50.5M	$675.2M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0463%	8h	0.000005221	−0.082%	$6K	—	20x	as long as short
SoDEX 1000PEPE-USD	+0.0472%	1h	0.000005218	−0.134%	$2K	$10K	10x	as long as short
BloFin PEPE-USDT	+0.0565%	8h	0.000005222	−0.057%	$4.9M	$28.2M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0670%	8h	0.000005222	−0.063%	$2.5M	$7.6M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0709%	1h	0.000005218	−0.134%	$74K	$126K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0712%	1h	0.000005225	0.000%	$705K	$36.3M	50x	as long as short
BingX 1000PEPE-USDC	+0.0761%	8h	0.000005220	−0.090%	—	$2.3M	—	as long as short
Aevo 1000PEPE-PERPlong	+0.0800%	1h	0.000005225	long leg	$148K	—	3x
MEXC PEPE_USDT	+0.0804%	8h	0.000005221	−0.071%	$98.8M	$296.2M	300x	as long as short
Binance 1000PEPEUSDT	+0.0806%	8h	0.000005222	−0.052%	$152.1M	$1.34B	75x	as long as short
Extended 1000PEPE-USD	+0.0808%	1h	0.000005218	−0.133%	$553K	$231K	25x	as long as short
Nado kPEPE-PERP	+0.0879%	1h	0.000005227	+0.042%	$189K	$917K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0903%	1h	0.000005243	+0.344%	$161K	$808K	25x	as long as short
Aster 1000PEPEUSDT	+0.0911%	8h	0.000005222	−0.054%	$1.8M	$10.3M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0967% / S −0.1938%	1h	0.000005000	−4.306%	$64K	—	100x	as long as short
01 Exchange kPEPEUSD	+0.0984%	1h	0.000005228	+0.057%	$631	$3K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.1148%	1h	0.000005221	−0.075%	$68K	$724K	15x	as long as short
Lighter 1000PEPE	+0.1232%	1h	0.000005224	−0.019%	$630K	$8.8M	10x	as long as short
Hyperliquid kPEPE	+0.1564%	1h	0.000005224	−0.019%	$56.8M	$145.8M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1565%	1h	0.000005217	−0.156%	$4.8M	$16.4M	50x	as long as short