Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0700%/8hpaid last 24h +0.021%

Price spread now: Aevo against Gate+0.141%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$3,622as in the Funding arb table

Net, price: spread back to 7d avg − costs−$3,614as in the Price arb table

costs, in and out, $10k−$3,62736.269% of the position

Long on Gate Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 3 days (all we have)+0.011%+$1 · spread now +0.141%, 7d avg +0.013%

Together, before fees+0.059%+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Aevo is 0.128% dearer against Gate than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.013%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.049% in total (about 2.5% 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	Gate PEPE_USDT	0.000004964	0.0100	pay 0.0100% / 8h	4h 06m	$151.3M	$58.7M	75x
Short	Aevo 1000PEPE-PERP	0.000004971	0.0800	get 0.0100% / 1h	6m 10s	$141K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Gate. 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 GatebpFee AevobpOrdersPrice spread, now +0.141%Rate

Funding earned: $147
Price spread: +0.141% → +0.013%: $12.83
Slippage, 4 orders: −$3,595.91
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$3,467.09
Costs to cover: 36.269%
Break-even: 172.1 days

Slippage from Gate: live order book, 2 min ago; Aevo: live order book, 27 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 Gate live order book, 2 min ago	1.00 bp	12.6 bp −$13	17.1 bp −$171	65.4 bp −$6,543	doesn't fit
Sell Aevo live order book, 27 min ago	275.84 bp	2768.3 bp −$2,768	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	0.000004961	−0.061%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004961	−0.056%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004968	+0.081%	$59K	$105K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004963	−0.026%	$89.4M	$256.4M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0100%	8h	0.000004966	+0.040%	$43.6M	$484.0M	50x	as long as short
Gate PEPE_USDTlong	+0.0100%	8h	0.000004964	long leg	$151.3M	$58.7M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004965	+0.026%	$25.6M	$46.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004976	+0.251%	$704K	$3.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004990	+0.520%	$28K	$330K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004974	+0.201%	$2K	$2.4M	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	0.000004970	+0.119%	$571K	$3.7M	75x	as long as short
Bitget PEPEUSDT	+0.0139%	8h	0.000004968	+0.087%	$46.9M	$136.3M	75x	as long as short
Reya kPEPERUSDPERP	+0.0188%	1h	0.000004968	+0.076%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0220%	8h	0.000004975	+0.222%	$4.1M	$21.3M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0268%	1h	0.000004965	+0.020%	$2K	$9K	10x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0289%	8h	0.000004967	+0.066%	$31K	$10K	20x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0292% / S −0.0262%	1h	0.000004000	−19.420%	$46K	—	100x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0314%	1h	0.000004989	+0.504%	$103K	$758K	25x	as long as short
Hyperliquid kPEPE	+0.0471%	1h	0.000004971	+0.141%	$56.8M	$61.7M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0480%	8h	0.000004969	+0.093%	$6K	$26	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0496%	1h	0.000004967	+0.060%	$634K	$25.0M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0511%	8h	0.000004968	+0.085%	$2.4M	$6.1M	50x	as long as short
Nado kPEPE-PERP	+0.0631%	1h	0.000004970	+0.115%	$200K	$795K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0731%	1h	0.000004967	+0.064%	$97K	$573K	15x	as long as short
01 Exchange kPEPEUSD	+0.0736%	1h	0.000004973	+0.181%	$570	$2K	10x	as long as short
Lighter 1000PEPE	+0.0744%	1h	0.000004971	+0.141%	$600K	$5.0M	10x	as long as short
BingX 1000PEPE-USDC	+0.0752%	8h	0.000004968	+0.081%	—	$2.3M	—	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0758%	1h	0.000004966	+0.040%	$84K	$87K	25x	as long as short
Extended 1000PEPE-USD	+0.0800%	1h	0.000004965	+0.019%	$549K	$145K	25x	as long as short
Aevo 1000PEPE-PERPshort	+0.0800%	1h	0.000004971	+0.141%	$141K	—	3x
MEXC PEPE_USDT	+0.0801%	8h	0.000004970	+0.129%	$114.1M	$270.1M	300x	as long as short
Binance 1000PEPEUSDT	+0.0802%	8h	0.000004967	+0.059%	$131.6M	$954.5M	75x	as long as short
Aster 1000PEPEUSDT	+0.0902%	8h	0.000004970	+0.130%	$1.5M	$6.4M	50x	as long as short
Kraken Futures PF_PEPEUSD	+0.1525%	1h	0.000004968	+0.073%	$4.0M	$12.0M	50x	as long as short
Injective PEPE/USDC PERP	+0.2268%	1h	0.000004956	−0.161%	$5K	$68K	12x	as long as short