PEPE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0208%/8h= +22.8% APRnext payment +$0.26 per $10,000 · paid last 24h +0.009%

Price spread now: Aevo against Coinbase International+0.042%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,162as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,162as in the Price arb table

costs, in and out, $10k−$1,16711.672% of the position

Long on Coinbase International Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.052%+$5 on $10k

Price spread, last 3 days (all we have)+0.140%+$14 · spread now +0.042%, 7d avg −0.012%

Together, before fees+0.191%+$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Aevo is 0.054% dearer against Coinbase International than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.012%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.052% in total (about 2.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.26 per $10,000. 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	Coinbase International 1000PEPE-PERP-INTX	0.000004745	0.0400	pay 0.0050% / 1h	23m 01s	$560K	$25.5M	50x
Short	Aevo 1000PEPE-PERP	0.000004747	0.0608	get 0.0076% / 1h	23m 01s	$134K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Coinbase International. 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 Coinbase InternationalbpFee AevobpOrdersPrice spread, now +0.042%Rate

Funding earned: $43.68
Price spread: +0.042% → −0.012%: $5.43
Slippage, 4 orders: −$1,141.21
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$1,118.1
Costs to cover: 11.672%
Break-even: 186.2 days

Slippage from Coinbase International: live order book, 1 min ago; Aevo: live order book, 56 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 Coinbase International live order book, 1 min ago	3.16 bp	9.4 bp −$9	12.8 bp −$128	53.7 bp −$5,373	doesn't fit
Sell Aevo live order book, 56 min ago	275.11 bp	584.0 bp −$584	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
Hyperliquid kPEPE	−0.0199%	1h	0.000004744	−0.021%	$66.7M	$93.5M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004740	−0.113%	$17K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000004743	−0.051%	$13K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0067%	1h	0.000004752	+0.156%	$3.8M	$13.7M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004741	−0.084%	$59K	$116K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004737	−0.169%	$86.0M	$291.5M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004748	+0.063%	$149.3M	$64.6M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004750	+0.101%	$24.2M	$54.5M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004753	+0.175%	$42.0M	$150.4M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004753	+0.168%	$536K	$4.1M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004750	+0.097%	$25K	$349K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004745	0.000%	$99K	$754K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004754	+0.185%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004752	+0.148%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004750	+0.107%	$534K	$3.5M	75x	as long as short
Lighter 1000PEPE	+0.0112%	1h	0.000004754	+0.190%	$581K	$6.4M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0178%	8h	0.000004744	−0.028%	$5K	$16	20x	as long as short
Phemex u1000PEPEUSDT	+0.0184%	8h	0.000004758	+0.270%	$2.3M	$6.5M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004747	+0.038%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0200%	8h	0.000004738	−0.148%	$41.2M	$493.7M	50x	as long as short
01 Exchange kPEPEUSD	+0.0272%	1h	0.000004745	0.000%	$544	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0322%	8h	0.000004749	+0.084%	$3.9M	$22.3M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0379%	8h	0.000004751	+0.116%	$29K	$13K	20x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0382% / S −0.0344%	1h	0.000004000	−15.701%	$46K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTXlong	+0.0400%	1h	0.000004745	long leg	$560K	$25.5M	50x
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004755	+0.211%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0573%	1h	0.000004754	+0.192%	$90K	$602K	15x	as long as short
BingX 1000PEPE-USDT	+0.0584%	8h	0.000004748	+0.057%	—	$257.0M	—	as long as short
Aster 1000PEPEUSDT	+0.0595%	8h	0.000004750	+0.095%	$1.5M	$7.3M	50x	as long as short
Binance 1000PEPEUSDT	+0.0599%	8h	0.000004740	−0.101%	$130.6M	$1.06B	75x	as long as short
Extended 1000PEPE-USD	+0.0600%	1h	0.000004737	−0.165%	$521K	$148K	25x	as long as short
MEXC PEPE_USDT	+0.0605%	8h	0.000004754	+0.183%	$88.6M	$281.8M	300x	as long as short
Aevo 1000PEPE-PERPshort	+0.0608%	1h	0.000004747	+0.042%	$134K	—	3x
Nado kPEPE-PERP	+0.0662%	1h	0.000004745	0.000%	$181K	$849K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.1014%	1h	0.000004752	+0.148%	$76K	$98K	25x	as long as short