Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0166%/8h= −18.2% APRpaid last 24h +0.007%

Price spread now: ApeX Omni against Aster+0.033%7-day average +0.032% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$850.848% of the position

Long on Aster Short on ApeX Omni

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)+0.240%+$24 · spread now +0.033%, 7d avg +0.032%

Together, before fees+0.191%+ Points / potential airdropAster: Stage 5 · farm board+$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.032%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENDLEUSDT	2.5142	0.0100	pay 0.0100% / 8h	10m 45s	$47K	$177K	10x
Short	ApeX Omni PENDLEUSDT	2.5150	−0.0066	pay 0.0008% / 1h	10m 45s	$77K	$239K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Aster. 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 AsterbpFee ApeX OmnibpOrdersPrice spread, now +0.033%Rate

Funding earned: −$34.86
Price spread: +0.033% → +0.032%: $0.16
Slippage, 4 orders: −$66.82
Fee Aster: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$119.52
Costs to cover: 0.848%
Break-even: never at this rate

Slippage from Aster: live order book, 1 min ago; ApeX Omni: live order book, 1 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 Aster live order book, 1 min ago	4.38 bp	44.9 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 1 min ago	4.18 bp	12.0 bp −$12	94.5 bp −$945	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	−0.5000%	1h	2.4940	−0.802%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0625%	1h	2.5116	−0.102%	$28K	$11K	10x	as long as short
ApeX Omni PENDLEUSDTshort	−0.0066%	1h	2.5150	+0.033%	$77K	$239K	50x
Binance PENDLEUSDT	−0.0066%	8h	2.5133	−0.034%	$27.2M	$42.1M	75x	as long as short
Extended PENDLE-USD	−0.0064%	1h	2.5104	−0.148%	$165K	$528K	10x	as long as short
MEXC PENDLE_USDT	−0.0063%	8h	2.5121	−0.082%	$17.0M	$1.9M	125x	as long as short
BloFin PENDLE-USDT	−0.0047%	8h	2.5102	−0.157%	$1.3M	$707K	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0008%	8h	2.5110	−0.126%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5173	+0.124%	$11K	—	5x	as long as short
GRVT PENDLE_USDT_Perp	+0.0016%	8h	2.5140	−0.006%	$416K	$1.6M	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	+0.0022%	8h	2.5081	−0.240%	$596K	$1.9M	—	as long as short
Reya PENDLERUSDPERP	+0.0046%	1h	2.5108	−0.136%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.5101	−0.161%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5119	−0.090%	$529K	$416K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5130	−0.046%	$35K	$18K	10x	as long as short
Aster PENDLEUSDTlong	+0.0100%	8h	2.5142	long leg	$47K	$177K	10x
Bybit PENDLEUSDT	+0.0100%	8h	2.5120	−0.086%	$15.5M	$12.0M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5120	−0.086%	$3.2M	$6.0M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5100	−0.165%	$780K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5115	−0.106%	$882K	$600K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5107	−0.138%	$3.7M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5137	−0.018%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5152	+0.043%	$25K	$380K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5135	−0.026%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5120	−0.086%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5116	−0.103%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0337%	1h	2.5184	+0.169%	$12.8M	$6.2M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0597%	1h	2.5161	+0.079%	$119K	$298K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+0.789%	$141K	$450K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0669%	1h	2.5152	+0.041%	$330K	$489K	15x	as long as short