Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0644%/8h= −70.5% APRpaid last 24h −0.072%

Price spread now: SunX against Aevo−0.653%7-day average +0.160% · you buy dearer than you sell

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

Long on Aevo Short on SunX

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)+0.690%+$69 · spread now −0.653%, 7d avg +0.160%

Together, before fees+0.666%+$67 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and SunX is 0.813% cheaper against Aevo than usual: you would sell low and buy high (−$81 if the spread goes back to its 7-day average of +0.160%). Swap the legs.

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	0.000005203	0.0744	pay 0.0093% / 1h	16m 01s	$147K	—	3x
Short	SunX 1000PEPE-USDT	0.000005169	0.0100	get 0.0100% / 8h	4h 16m	$2K	$2.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.653%Rate

Funding earned: −$135.24
Price spread: −0.653% → +0.160%: −$81.3
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee SunX: 4 bp × 2 orders: −$8
Net: −$240.54
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Aevo: live order book, 43 min ago; SunX: live order book, 11 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, 43 min ago	695.47 bp	936.0 bp −$936	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 11 min ago	500.02 bp	doesn't fit	doesn't fit	doesn't fit	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	0.000005159	−0.844%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005161	−0.811%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005165	−0.730%	$66K	$146K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005158	−0.863%	$99.5M	$359.2M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005156	−0.903%	$167.9M	$82.2M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005164	−0.746%	$26.3M	$65.5M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005163	−0.777%	$807K	$4.8M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005148	−1.048%	$42K	$465K	20x	as long as short
SunX 1000PEPE-USDTshort	+0.0100%	8h	0.000005169	−0.653%	$2K	$2.5M	20x
HTX PEPE-USDT	+0.0100%	8h	0.000005171	−0.621%	$600K	$3.7M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005164	−0.745%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0210%	8h	0.000005165	−0.740%	$47.7M	$180.2M	75x	as long as short
Injective PEPE/USDC PERP	+0.0254%	1h	0.000005173	−0.577%	$3K	$102K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0356%	8h	0.000005173	−0.582%	$34K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0392%	8h	0.000005166	−0.711%	$48.4M	$631.6M	50x	as long as short
BloFin PEPE-USDT	+0.0510%	8h	0.000005170	−0.634%	$4.4M	$26.7M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0581%	8h	0.000005167	−0.688%	$2.6M	$7.3M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0672%	1h	0.000005166	−0.711%	$967K	$34.2M	50x	as long as short
BingX 1000PEPE-USDC	+0.0707%	8h	0.000005170	−0.638%	—	$2.3M	—	as long as short
SoDEX 1000PEPE-USD	+0.0732%	1h	0.000005172	−0.596%	$2K	$10K	10x	as long as short
Extended 1000PEPE-USD	+0.0744%	1h	0.000005165	−0.724%	$547K	$226K	25x	as long as short
Aevo 1000PEPE-PERPlong	+0.0744%	1h	0.000005203	long leg	$147K	—	3x
MEXC PEPE_USDT	+0.0747%	8h	0.000005167	−0.692%	$99.2M	$292.0M	300x	as long as short
Binance 1000PEPEUSDT	+0.0747%	8h	0.000005168	−0.672%	$147.1M	$1.26B	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0790%	8h	0.000005163	−0.775%	$6K	—	20x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0798% / S −0.1602%	1h	0.000005000	−3.902%	$63K	—	100x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0806%	1h	0.000005163	−0.769%	$101K	$743K	25x	as long as short
Lighter 1000PEPE	+0.0816%	1h	0.000005170	−0.634%	$614K	$8.3M	10x	as long as short
Aster 1000PEPEUSDT	+0.0857%	8h	0.000005169	−0.651%	$1.8M	$9.6M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0912%	1h	0.000005171	−0.615%	$73K	$125K	25x	as long as short
Nado kPEPE-PERP	+0.0932%	1h	0.000005166	−0.710%	$185K	$903K	10x	as long as short
01 Exchange kPEPEUSD	+0.1096%	1h	0.000005176	−0.519%	$624	$3K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.1156%	1h	0.000005163	−0.778%	$63K	$685K	15x	as long as short
Kraken Futures PF_PEPEUSD	+0.1260%	1h	0.000005170	−0.629%	$4.7M	$16.0M	50x	as long as short
Hyperliquid kPEPE	+0.1567%	1h	0.000005165	−0.730%	$55.7M	$142.2M	10x	as long as short