Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0401%/8h= +43.9% APRpaid last 24h +0.067%

Price spread now: Aevo against Orderly−0.077%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 0.077% cheaper against Orderly than usual: you would sell low and buy high (spread −0.077% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 15 hours of funding at the current rate (+$12 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_1000PEPE_USDC	0.000005214	0.0399	pay 0.0399% / 8h	3h 21m	$35K	$26K	20x
Short	Aevo 1000PEPE-PERP	0.000005210	0.0800	get 0.0100% / 1h	21m 32s	$147K	—	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 −0.077%Rate

Funding earned: $84.28
Price spread: −0.077% → 0.000%: −$7.67
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Aevo: 8 bp × 2 orders: −$16
Net: $54.61
Costs to cover: 0.220%
Break-even: 2.5 days

Slippage unknown: Orderly: no order-book sample; Aevo: live order book, 32 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, 32 min ago	1010.05 bp	doesn't fit	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 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	+0.087%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005205	−0.171%	$14K	—	150x	as long as short
Injective PEPE/USDC PERP	+0.0092%	1h	0.000005327	+2.167%	$3K	$111K	12x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005224	+0.192%	$66K	$162K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005219	+0.092%	$106.6M	$381.5M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005222	+0.153%	$172.2M	$88.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005223	+0.180%	$26.1M	$68.5M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005215	+0.010%	$677K	$5.2M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005239	+0.477%	$29K	$534K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005213	−0.017%	$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	0.000005216	+0.036%	$585K	$3.9M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005224	+0.192%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0307%	8h	0.000005226	+0.222%	$50.7M	$190.8M	75x	as long as short
Orderly PERP_1000PEPE_USDClong	+0.0399%	8h	0.000005214	long leg	$35K	$26K	20x
OKX PEPE-USDT-SWAP	+0.0435%	8h	0.000005223	+0.173%	$50.5M	$675.7M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0463%	8h	0.000005221	+0.129%	$6K	—	20x	as long as short
SoDEX 1000PEPE-USD	+0.0481%	1h	0.000005223	+0.173%	$2K	$10K	10x	as long as short
BloFin PEPE-USDT	+0.0562%	8h	0.000005240	+0.499%	$4.9M	$28.3M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0678%	8h	0.000005222	+0.152%	$2.5M	$7.6M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0711%	1h	0.000005210	−0.077%	$74K	$126K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0712%	1h	0.000005220	+0.115%	$723K	$36.2M	50x	as long as short
BingX 1000PEPE-USDT	+0.0762%	8h	0.000005225	+0.205%	—	$235.8M	—	as long as short
Aevo 1000PEPE-PERPshort	+0.0800%	1h	0.000005210	−0.077%	$147K	—	3x
MEXC PEPE_USDT	+0.0804%	8h	0.000005222	+0.148%	$98.8M	$296.2M	300x	as long as short
Binance 1000PEPEUSDT	+0.0806%	8h	0.000005225	+0.217%	$152.2M	$1.34B	75x	as long as short
Extended 1000PEPE-USD	+0.0808%	1h	0.000005224	+0.198%	$553K	$231K	25x	as long as short
Nado kPEPE-PERP	+0.0879%	1h	0.000005227	+0.253%	$189K	$917K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0903%	1h	0.000005243	+0.556%	$161K	$808K	25x	as long as short
Aster 1000PEPEUSDT	+0.0911%	8h	0.000005228	+0.261%	$1.8M	$10.3M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0964% / S −0.1931%	1h	0.000005000	−4.104%	$64K	—	100x	as long as short
01 Exchange kPEPEUSD	+0.0984%	1h	0.000005228	+0.269%	$631	$3K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.1149%	1h	0.000005215	+0.019%	$68K	$724K	15x	as long as short
Lighter 1000PEPE	+0.1232%	1h	0.000005226	+0.230%	$632K	$8.8M	10x	as long as short
Hyperliquid kPEPE	+0.1563%	1h	0.000005229	+0.288%	$56.8M	$145.8M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1565%	1h	0.000005218	+0.077%	$4.8M	$16.4M	50x	as long as short