Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0085%/8h= −9.3% APRpaid last 24h −0.008%

Price spread now: Aster against Aevo+0.089%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.089% dearer against Aevo than usual: you sell high and buy low (spread +0.089% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENDLE-PERP	2.5079	0.0048	pay 0.0006% / 1h	11m 29s	$26K	—	3x
Short	Aster PENDLEUSDT	2.5101	−0.0037	pay 0.0037% / 8h	6h 11m	$50K	$181K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now +0.089%Rate

Funding earned: −$17.76
Price spread: +0.089% → 0.000%: $8.92
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Aster: 4 bp × 2 orders: −$8
Net: −$32.84
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Aster: live order book, 55 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 no order-book sample	—	—	—	—	—
Sell Aster live order book, 55 min ago	4.55 bp	17.5 bp −$17	doesn't fit	doesn't fit	doesn't fit

Aevo: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

PENDLE on 29 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
Injective PENDLE/USDC PERP	−0.4742%	1h	2.4870	−0.833%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0308%	1h	2.5085	+0.025%	$26K	$14K	10x	as long as short
Binance PENDLEUSDT	−0.0132%	8h	2.5064	−0.060%	$26.9M	$43.4M	75x	as long as short
Extended PENDLE-USD	−0.0128%	1h	2.5057	−0.087%	$163K	$570K	10x	as long as short
MEXC PENDLE_USDT	−0.0128%	8h	2.5070	−0.035%	$17.3M	$1.8M	125x	as long as short
GRVT PENDLE_USDT_Perp	−0.0121%	8h	2.5086	+0.029%	$422K	$1.7M	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0097%	1h	2.5098	+0.077%	$77K	$236K	50x	as long as short
Gate PENDLE_USDT	−0.0040%	8h	2.5060	−0.075%	$762K	$1.2M	75x	as long as short
Variational Omni PENDLE	−0.0040%	8h	2.5105	+0.106%	$613K	$1.8M	—	as long as short
Orderly PERP_PENDLE_USDC	−0.0038%	8h	2.5084	+0.021%	$20K	$16K	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENDLEUSDTshort	−0.0037%	8h	2.5101	+0.089%	$50K	$181K	10x
Bybit PENDLEUSDT	−0.0022%	8h	2.5050	−0.115%	$15.2M	$12.0M	50x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5120	+0.164%	$11K	—	5x	as long as short
Aevo PENDLE-PERPlong	+0.0048%	1h	2.5079	long leg	$26K	—	3x
Reya PENDLERUSDPERP	+0.0056%	1h	2.5067	−0.049%	$4K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5088	+0.037%	$534K	$416K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5071	−0.033%	$35K	$16K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5105	+0.104%	$12.9M	$6.4M	5x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5080	+0.005%	$3.2M	$6.2M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5098	+0.077%	$867K	$593K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5066	−0.051%	$3.8M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5061	−0.071%	—	$33.6M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5110	+0.124%	$25K	$381K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5094	+0.061%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5090	+0.045%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0158% / S −0.0256%	1h	2.5085	+0.026%	$7K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0407%	1h	2.5129	+0.200%	$352K	$482K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0632%	1h	2.5260	+0.722%	$145K	$473K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0867%	1h	2.5132	+0.210%	$117K	$289K	20x	as long as short