Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.021%

Price spread now: GRVT against Aevo+0.117%71s7-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 GRVT

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 airdropGRVT: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.117% dearer against Aevo than usual: you sell high and buy low, +$12 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 71 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENDLE-PERP	2.5187	0.0096	pay 0.0012% / 1h	15m 52s	$26K	—	3x
Short	GRVT PENDLE_USDT_Perp	2.5216	0.0100	get 0.0100% / 8h	2h 15m	$425K	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.117%Rate

Funding earned: $0.84
Price spread: +0.117% → 0.000%: $11.69
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$12.47
Costs to cover: 0.250%
Break-even: 110.9 days

Slippage unknown: Aevo: no order-book sample; GRVT: live order book, 2 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 GRVT live order book, 2 min ago	1.59 bp	11.5 bp −$11	25.9 bp −$259	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	−0.4806%	1h	2.5200	+0.054%	$2K	$53K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0429%	1h	2.5256	+0.277%	$150K	$277K	20x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0186%	1h	2.5191	+0.018%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5194	+0.031%	$11K	—	5x	as long as short
BloFin PENDLE-USDT	+0.0020%	8h	2.5190	+0.014%	$1.3M	$741K	75x	as long as short
Orderly PERP_PENDLE_USDC	+0.0034%	8h	2.5189	+0.010%	$25K	$11K	10x	as long as short
Reya PENDLERUSDPERP	+0.0036%	1h	2.5195	+0.034%	$4K	—	15x	as long as short
MEXC PENDLE_USDT	+0.0045%	8h	2.5180	−0.026%	$17.0M	$2.3M	125x	as long as short
Binance PENDLEUSDT	+0.0046%	8h	2.5177	−0.038%	$27.4M	$39.1M	75x	as long as short
Extended PENDLE-USD	+0.0048%	1h	2.5173	−0.052%	$166K	$524K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PENDLE	+0.0053%	8h	2.5229	+0.167%	$621K	$2.3M	—	as long as short
Lighter PENDLE	+0.0096%	1h	2.5185	−0.006%	$547K	$396K	5x	as long as short
Aevo PENDLE-PERPlong	+0.0096%	1h	2.5187	long leg	$26K	—	3x
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5203	+0.066%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5217	+0.121%	$12.3M	$5.6M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5179	−0.031%	$41K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5170	−0.066%	$15.6M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5200	+0.054%	$3.2M	$5.7M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5200	+0.054%	$842K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5206	+0.077%	$916K	$610K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5195	+0.034%	$3.7M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5174	−0.050%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5210	+0.095%	$25K	$412K	10x	as long as short
GRVT PENDLE_USDT_Perpshort	+0.0100%	8h	2.5216	+0.117%	$425K	$1.6M	10x
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.5236	+0.197%	$77K	$240K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5210	+0.093%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5194	+0.030%	$1K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5203	+0.065%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5360	+0.689%	$117K	$422K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0850%	1h	2.5249	+0.248%	$365K	$460K	15x	as long as short