Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.002%

Price spread now: Bitget against Aevo+0.014%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 Bitget

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENDLE-PERP	2.4942	0.0056	pay 0.0007% / 1h	22m 16s	$26K	—	3x
Short	Bitget PENDLEUSDT	2.4946	0.0100	get 0.0100% / 8h	5h 22m	$3.7M	$2.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.014%Rate

Funding earned: $9.24
Price spread: +0.014% → 0.000%: $1.44
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$17.32
Costs to cover: 0.280%
Break-even: 20.1 days

Slippage unknown: Aevo: no order-book sample; Bitget: live order book, 1 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 Bitget live order book, 1 min ago	3.41 bp	19.7 bp −$20	48.8 bp −$488	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 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	2.4520	−1.694%	$2K	$54K	5.5x	as long as short
Extended PENDLE-USD	−0.0088%	1h	2.4936	−0.024%	$162K	$570K	10x	as long as short
MEXC PENDLE_USDT	−0.0088%	8h	2.4952	+0.038%	$17.4M	$1.9M	125x	as long as short
Binance PENDLEUSDT	−0.0084%	8h	2.4942	−0.002%	$26.7M	$43.4M	75x	as long as short
BloFin PENDLE-USDT	−0.0058%	8h	2.4874	−0.274%	$1.3M	$648K	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0035%	8h	2.4951	+0.034%	$19K	$15K	10x	as long as short
Aster PENDLEUSDT	−0.0034%	8h	2.4939	−0.014%	$47K	$177K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4910	−0.130%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4952	+0.038%	$26K	$14K	10x	as long as short
Variational Omni PENDLE	+0.0003%	8h	2.4795	−0.591%	$546K	$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	+0.0022%	8h	2.4910	−0.130%	$717K	$1.1M	75x	as long as short
GRVT PENDLE_USDT_Perp	+0.0033%	8h	2.4730	−0.852%	$412K	$1.8M	10x	as long as short
Aevo PENDLE-PERPlong	+0.0056%	1h	2.4942	long leg	$26K	—	3x
Reya PENDLERUSDPERP	+0.0060%	1h	2.4953	+0.042%	$4K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4951	+0.034%	$533K	$418K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4946	+0.012%	$35K	$15K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4981	+0.155%	$12.7M	$6.0M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4929	−0.054%	$14.9M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4940	−0.010%	$3.2M	$6.2M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4948	+0.022%	$851K	$573K	50x	as long as short
Bitget PENDLEUSDTshort	+0.0100%	8h	2.4946	+0.014%	$3.7M	$2.3M	75x
BingX PENDLE-USDT	+0.0100%	8h	2.4933	−0.038%	—	$33.5M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4819	−0.493%	$25K	$377K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4834	−0.435%	$76K	$235K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4971	+0.115%	$16K	$8K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4949	+0.026%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0158% / S −0.0257%	1h	2.4953	+0.041%	$7K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0552%	1h	2.4970	+0.111%	$148K	$493K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0671%	1h	2.4941	−0.006%	$350K	$483K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0750%	1h	2.4998	+0.224%	$116K	$280K	20x	as long as short