Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.007%

Price spread now: Aster against ApeX Omni−0.168%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$350as in the Price arb table

costs, in and out, $10k−$3363.364% of the position

Long on ApeX Omni Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.049%+$5 on $10k

Price spread, last 3 days (all we have)−0.321%−$32 · spread now −0.168%, 7d avg −0.035%

Together, before fees−0.272%+ Points / potential airdropAster: Stage 5 · farm board−$27 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.132% cheaper against ApeX Omni than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PENDLEUSDT	2.5236	0.0100	pay 0.0013% / 1h	17m 13s	$77K	$240K	50x
Short	Aster PENDLEUSDT	2.5194	0.0100	get 0.0100% / 8h	2h 17m	$41K	$177K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against ApeX Omni. 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 ApeX OmnibpFee AsterbpOrdersPrice spread, now −0.168%Rate

Funding earned: $0
Price spread: −0.168% → −0.035%: −$13.24
Slippage, 4 orders: −$318.35
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$349.59
Costs to cover: 3.364%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 4 min ago; Aster: live order book, 4 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 ApeX Omni live order book, 4 min ago	3.37 bp	12.1 bp −$12	111.3 bp −$1,113	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	11.09 bp	131.5 bp −$132	doesn't fit	doesn't fit	doesn't fit

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	−0.143%	$2K	$53K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0428%	1h	2.5270	+0.136%	$150K	$279K	20x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0345%	1h	2.5208	−0.111%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5229	−0.026%	$11K	—	5x	as long as short
BloFin PENDLE-USDT	+0.0020%	8h	2.5190	−0.182%	$1.3M	$741K	75x	as long as short
Orderly PERP_PENDLE_USDC	+0.0034%	8h	2.5208	−0.111%	$25K	$11K	10x	as long as short
Reya PENDLERUSDPERP	+0.0036%	1h	2.5206	−0.119%	$4K	—	15x	as long as short
Binance PENDLEUSDT	+0.0046%	8h	2.5192	−0.174%	$27.4M	$39.3M	75x	as long as short
Extended PENDLE-USD	+0.0048%	1h	2.5194	−0.168%	$166K	$524K	10x	as long as short
MEXC PENDLE_USDT	+0.0048%	8h	2.5193	−0.170%	$17.0M	$2.3M	125x	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	−0.029%	$621K	$2.3M	—	as long as short
Lighter PENDLE	+0.0096%	1h	2.5200	−0.143%	$547K	$396K	5x	as long as short
Aevo PENDLE-PERP	+0.0096%	1h	2.5198	−0.151%	$26K	—	3x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5193	−0.172%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5237	+0.004%	$12.4M	$5.6M	5x	as long as short
Aster PENDLEUSDTshort	+0.0100%	8h	2.5194	−0.168%	$41K	$177K	10x
Bybit PENDLEUSDT	+0.0100%	8h	2.5170	−0.262%	$15.6M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5190	−0.182%	$3.3M	$5.7M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5210	−0.103%	$841K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5213	−0.091%	$917K	$611K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5217	−0.075%	$3.7M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5188	−0.190%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5210	−0.101%	$25K	$412K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5216	−0.079%	$425K	$1.6M	10x	as long as short
ApeX Omni PENDLEUSDTlong	+0.0100%	1h	2.5236	long leg	$77K	$240K	50x
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5216	−0.079%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5214	−0.087%	$1K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5218	−0.073%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5360	+0.491%	$117K	$422K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0845%	1h	2.5263	+0.107%	$365K	$464K	15x	as long as short