Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0111%/8h= −12.2% APRpaid last 24h −0.005%

Price spread now: Binance against ApeX Omni+0.290%7-day average −0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$520.525% of the position

Long on ApeX Omni Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.070%+$7 on $10k

Price spread, last 4 days (all we have)−0.976%−$98 · spread now +0.290%, 7d avg −0.049%

Together, before fees−0.906%−$91 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.339% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.290% now, against its 7-day average of −0.049%): +$34 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 10 days. Mind the row above: over the last 7 days funding on this pair paid +0.070%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PENDLEUSDT	2.4790	−0.0010	get 0.0001% / 1h	43m 18s	$75K	$235K	50x
Short	Binance PENDLEUSDT	2.4862	−0.0122	pay 0.0122% / 8h	5h 43m	$26.7M	$43.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.290%Rate

Funding earned: −$23.35
Price spread: +0.290% → −0.049%: $33.9
Slippage, 4 orders: −$32.48
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$41.93
Costs to cover: 0.525%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 18 min ago; Binance: live order book, 14 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, 18 min ago	6.78 bp	14.0 bp −$14	116.0 bp −$1,160	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	0.20 bp	11.6 bp −$12	31.9 bp −$319	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	−0.4938%	1h	2.4490	−1.210%	$2K	$54K	5.5x	as long as short
MEXC PENDLE_USDT	−0.0125%	8h	2.4861	+0.286%	$17.2M	$1.8M	125x	as long as short
Binance PENDLEUSDTshort	−0.0122%	8h	2.4862	+0.290%	$26.7M	$43.0M	75x
Extended PENDLE-USD	−0.0120%	1h	2.4855	+0.262%	$163K	$568K	10x	as long as short
BloFin PENDLE-USDT	−0.0104%	8h	2.4809	+0.077%	—	$645K	75x	as long as short
GRVT PENDLE_USDT_Perp	−0.0068%	8h	2.4733	−0.229%	$410K	$1.7M	10x	as long as short
Aster PENDLEUSDT	−0.0059%	8h	2.4853	+0.252%	$47K	$175K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0039%	8h	2.4862	+0.290%	$19K	$15K	10x	as long as short
Variational Omni PENDLE	−0.0019%	8h	2.4691	−0.401%	$544K	$1.8M	—	as long as short
ApeX Omni PENDLEUSDTlong	−0.0010%	1h	2.4790	long leg	$75K	$235K	50x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENDLE-USD	0.0000%	1h	2.4815	+0.102%	$10K	—	5x	as long as short
Gate PENDLE_USDT	0.0000%	8h	2.4840	+0.202%	$724K	$1.1M	75x	as long as short
Deribit PENDLE_USDC-PERPETUAL	+0.0031%	1h	2.4876	+0.347%	$26K	$14K	10x	as long as short
Aevo PENDLE-PERP	+0.0048%	1h	2.4866	+0.305%	$26K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0058%	1h	2.4855	+0.263%	$4K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4855	+0.262%	$529K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4850	+0.242%	$35K	$15K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4885	+0.383%	$12.7M	$6.0M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4853	+0.254%	$15.0M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4870	+0.323%	$3.1M	$6.1M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4841	+0.206%	$849K	$579K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4853	+0.254%	$3.7M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4853	+0.254%	—	$33.6M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4783	−0.028%	$24K	$380K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4866	+0.307%	$16K	$8K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4883	+0.375%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0190% / S −0.0314%	1h	2.4863	+0.293%	$7K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0379%	1h	2.4888	+0.395%	$353K	$483K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0552%	1h	2.4900	+0.444%	$149K	$491K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0752%	1h	2.4911	+0.487%	$116K	$283K	20x	as long as short