Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h +0.002%

Price spread now: BingX against Aevo+0.023%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 BingX

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—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and BingX is 0.023% dearer against Aevo than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENDLE-PERP	2.4835	0.0048	pay 0.0006% / 1h	44m 14s	$26K	—	3x
Short	BingX PENDLE-USDT	2.4841	0.0100	get 0.0100% / 8h	5h 44m	—	$33.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.023%Rate

Funding earned: $10.92
Price spread: +0.023% → 0.000%: $2.29
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee BingX: 5 bp × 2 orders: −$10
Net: −$12.79
Costs to cover: 0.260%
Break-even: 15.2 days

Slippage unknown: Aevo: no order-book sample; BingX: live order book, 9 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 BingX live order book, 9 min ago	2.61 bp	9.1 bp −$9	22.8 bp −$228	138.2 bp −$13.8K	379.6 bp −$189.8K

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 30 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	−0.4938%	1h	2.4490	−1.390%	$2K	$54K	5.5x	as long as short
Extended PENDLE-USD	−0.0128%	1h	2.4823	−0.050%	$163K	$568K	10x	as long as short
MEXC PENDLE_USDT	−0.0127%	8h	2.4851	+0.063%	$17.2M	$1.8M	125x	as long as short
ApeX Omni PENDLEUSDT	−0.0126%	1h	2.4850	+0.059%	$76K	$235K	50x	as long as short
Binance PENDLEUSDT	−0.0126%	8h	2.4841	+0.023%	$26.7M	$43.0M	75x	as long as short
BloFin PENDLE-USDT	−0.0104%	8h	2.4809	−0.106%	—	$645K	75x	as long as short
GRVT PENDLE_USDT_Perp	−0.0068%	8h	2.4733	−0.411%	$410K	$1.7M	10x	as long as short
Aster PENDLEUSDT	−0.0065%	8h	2.4824	−0.047%	$47K	$175K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0039%	8h	2.4843	+0.031%	$19K	$15K	10x	as long as short
Variational Omni PENDLE	−0.0019%	8h	2.4691	−0.582%	$544K	$1.8M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENDLE_USDT	−0.0007%	8h	2.4830	−0.021%	$723K	$1.1M	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4818	−0.071%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4851	+0.063%	$26K	$14K	10x	as long as short
Aevo PENDLE-PERPlong	+0.0048%	1h	2.4835	long leg	$26K	—	3x
Reya PENDLERUSDPERP	+0.0058%	1h	2.4834	−0.004%	$4K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4841	+0.023%	$529K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4826	−0.037%	$35K	$15K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4854	+0.075%	$12.6M	$6.0M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4834	−0.005%	$14.9M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4860	+0.099%	$3.1M	$6.1M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4838	+0.011%	$845K	$575K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4842	+0.027%	$3.7M	$2.4M	75x	as long as short
BingX PENDLE-USDTshort	+0.0100%	8h	2.4841	+0.023%	—	$33.6M	—
edgeX PENDLEUSDC	+0.0100%	4h	2.4747	−0.355%	$24K	$380K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4853	+0.071%	$16K	$8K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4865	+0.120%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0190% / S −0.0313%	1h	2.4843	+0.032%	$7K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0327%	1h	2.4858	+0.091%	$354K	$481K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0552%	1h	2.4900	+0.260%	$149K	$491K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0753%	1h	2.4894	+0.236%	$116K	$283K	20x	as long as short