Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0596%/8h= −65.3% APRpaid last 24h −0.072%

Price spread now: HTX against Aevo+0.456%7-day average +0.020% · you sell dearer than you buy

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

Long on Aevo Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 4 days (all we have)−0.614%−$61 · spread now +0.456%, 7d avg +0.020%

Together, before fees−0.639%−$64 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.436% dearer against Aevo than usual: you sell high and buy low (spread +0.456% now, against its 7-day average of +0.020%): +$44 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 2.4 days. At the pace of the last 7 days (−0.024% in total) that is about 4 months.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.024% in total (about -1.3% 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	0.000005091	0.0696	pay 0.0087% / 1h	38m 59s	$144K	—	3x
Short	HTX PEPE-USDT	0.000005114	0.0100	get 0.0100% / 8h	4h 38m	$585K	$3.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.456%Rate

Funding earned: −$125.16
Price spread: +0.456% → +0.020%: $43.61
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee HTX: 6 bp × 2 orders: −$12
Net: −$109.55
Costs to cover: 0.280%
Break-even: from the start

Slippage unknown: Aevo: live order book, 20 min ago; HTX: live order book, 5 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 Aevo live order book, 20 min ago	695.47 bp	936.0 bp −$936	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 5 min ago	3.73 bp	11.8 bp −$12	31.0 bp −$310	98.4 bp −$9,838	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	0.000005098	+0.139%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005096	+0.102%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005107	+0.314%	$65K	$141K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005103	+0.232%	$99.8M	$346.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005099	+0.157%	$169.4M	$76.3M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005100	+0.167%	$26.2M	$64.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005091	−0.009%	$688K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005091	−0.009%	$31K	$451K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005109	+0.354%	$2K	$2.4M	20x	as long as short
HTX PEPE-USDTshort	+0.0100%	8h	0.000005114	+0.456%	$585K	$3.7M	75x

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PEPEUSDT	+0.0174%	8h	0.000005104	+0.255%	$46.5M	$175.2M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005099	+0.150%	$8K	—	15x	as long as short
Injective PEPE/USDC PERP	+0.0254%	1h	0.000005044	−0.923%	$3K	$102K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0335%	8h	0.000005101	+0.194%	$33K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0366%	8h	0.000005107	+0.314%	$46.2M	$605.4M	50x	as long as short
BloFin PEPE-USDT	+0.0488%	8h	0.000005096	+0.098%	$4.3M	$25.6M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0584%	8h	0.000005103	+0.236%	$2.4M	$7.1M	50x	as long as short
BingX 1000PEPE-USDT	+0.0647%	8h	0.000005099	+0.157%	—	$261.9M	—	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0672%	1h	0.000005102	+0.216%	$973K	$32.2M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0675% / S −0.0930%	1h	0.000005000	−1.787%	$46K	—	100x	as long as short
MEXC PEPE_USDT	+0.0694%	8h	0.000005103	+0.232%	$93.7M	$287.7M	300x	as long as short
Extended 1000PEPE-USD	+0.0696%	1h	0.000005098	+0.146%	$541K	$226K	25x	as long as short
Aevo 1000PEPE-PERPlong	+0.0696%	1h	0.000005091	long leg	$144K	—	3x
Binance 1000PEPEUSDT	+0.0699%	8h	0.000005109	+0.344%	$144.8M	$1.23B	75x	as long as short
SoDEX 1000PEPE-USD	+0.0728%	1h	0.000005100	+0.177%	$2K	$12K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0731%	1h	0.000005100	+0.177%	$72K	$124K	25x	as long as short
Nado kPEPE-PERP	+0.0788%	1h	0.000005103	+0.230%	$199K	$880K	10x	as long as short
Aster 1000PEPEUSDT	+0.0794%	8h	0.000005107	+0.324%	$1.8M	$9.3M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0804%	8h	0.000005103	+0.243%	$6K	—	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0824%	1h	0.000005099	+0.157%	$101K	$743K	25x	as long as short
Lighter 1000PEPE	+0.0912%	1h	0.000005104	+0.255%	$579K	$8.2M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0955%	1h	0.000005103	+0.230%	$98K	$655K	15x	as long as short
01 Exchange kPEPEUSD	+0.1048%	1h	0.000005119	+0.550%	$617	$3K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1278%	1h	0.000005098	+0.140%	$4.5M	$15.5M	50x	as long as short
Hyperliquid kPEPE	+0.1469%	1h	0.000005109	+0.354%	$54.8M	$140.3M	10x	as long as short