Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0025%/8h= −2.7% APRpaid last 24h −0.013%

Price spread now: BingX against Aevo−0.024%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$2,102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$2,106as in the Price arb table

costs, in and out, $10k−$2,10521.046% of the position

Long on Aevo Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.027%+$3 on $10k

Price spread, last 3 days (all we have)−0.093%−$9 · spread now −0.024%, 7d avg −0.008%

Together, before fees−0.066%−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.008%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo 1000PEPE-PERP	0.000005012	0.0480	pay 0.0060% / 1h	46m 21s	$142K	—	3x
Short	BingX 1000PEPE-USDT	0.000005011	0.0455	get 0.0455% / 8h	6h 46m	—	$258.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$5.25
Price spread: −0.024% → −0.008%: −$1.56
Slippage, 4 orders: −$2,078.6
Fee Aevo: 8 bp × 2 orders: −$16
Fee BingX: 5 bp × 2 orders: −$10
Net: −$2,111.41
Costs to cover: 21.046%
Break-even: never at this rate

Slippage from Aevo: live order book, 22 min ago; BingX: live order book, 8 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, 22 min ago	440.51 bp	1030.3 bp −$1,030	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	0.30 bp	6.1 bp −$6	9.9 bp −$99	15.5 bp −$1,545	37.3 bp −$18.7K

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	0.000005017	+0.104%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005009	−0.066%	$3K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005029	+0.339%	$62K	$125K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005010	−0.040%	$96.7M	$319.7M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005017	+0.100%	$159.5M	$69.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005018	+0.118%	$25.2M	$59.2M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005016	+0.082%	$44.6M	$158.5M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005015	+0.054%	$559K	$4.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005012	+0.003%	$46K	$388K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005019	+0.140%	$2K	$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	0.000005020	+0.168%	$559K	$3.6M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000005015	+0.056%	$2.4M	$6.8M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005017	+0.097%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0207%	8h	0.000005015	+0.060%	$44.3M	$555.8M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0275%	8h	0.000005013	+0.012%	$33K	$23K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0289%	1h	0.000005006	−0.120%	$106K	$752K	25x	as long as short
BloFin PEPE-USDT	+0.0318%	8h	0.000005008	−0.080%	$4.2M	$24.6M	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0349%	1h	0.000005012	0.000%	$61K	$114K	25x	as long as short
Paradex kPEPE-USD-PERP	+0.0418%	8h	0.000005030	+0.368%	$6K	$16	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0424%	1h	0.000005018	+0.120%	$648K	$28.7M	50x	as long as short
BingX 1000PEPE-USDTshort	+0.0455%	8h	0.000005011	−0.024%	—	$258.1M	—
Aevo 1000PEPE-PERPlong	+0.0480%	1h	0.000005012	long leg	$142K	—	3x
MEXC PEPE_USDT	+0.0486%	8h	0.000005018	+0.126%	$95.1M	$288.1M	300x	as long as short
Binance 1000PEPEUSDT	+0.0486%	8h	0.000005017	+0.102%	$139.0M	$1.16B	75x	as long as short
Extended 1000PEPE-USD	+0.0488%	1h	0.000005013	+0.021%	$552K	$199K	25x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0505% / S −0.0411%	1h	0.000005000	−0.239%	$63K	—	100x	as long as short
Aster 1000PEPEUSDT	+0.0564%	8h	0.000005019	+0.146%	$1.7M	$8.0M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0579%	1h	0.000005012	0.000%	$2K	$12K	10x	as long as short
Nado kPEPE-PERP	+0.0590%	1h	0.000005020	+0.162%	$178K	$883K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0831%	1h	0.000005012	−0.006%	$3.9M	$14.4M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0853%	1h	0.000005015	+0.070%	$102K	$625K	15x	as long as short
Injective PEPE/USDC PERP	+0.0909%	1h	0.000005039	+0.539%	$4K	$102K	12x	as long as short
01 Exchange kPEPEUSD	+0.0976%	1h	0.000005030	+0.359%	$1K	$2K	10x	as long as short
Lighter 1000PEPE	+0.1240%	1h	0.000005030	+0.359%	$651K	$6.8M	10x	as long as short
Hyperliquid kPEPE	+0.2554%	1h	0.000005028	+0.319%	$55.5M	$134.8M	10x	as long as short