Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.013%

Price spread now: BingX against Aster−0.079%7-day average −0.053% · 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−$234as in the Price arb table

costs, in and out, $10k−$2312.313% of the position

Long on Aster Short on BingX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.044%+$4 on $10k

Price spread, last 4 days (all we have)−0.096%−$10 · spread now −0.079%, 7d avg −0.053%

Together, before fees−0.052%+ Points / potential airdropAster: Stage 5 · farm board−$5 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: BingX is 0.026% cheaper against Aster than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENDLEUSDT	2.5234	0.0100	pay 0.0100% / 8h	37m 25s	$46K	$177K	10x
Short	BingX PENDLE-USDT	2.5214	0.0100	get 0.0100% / 8h	37m 25s	—	$35.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.079%Rate

Funding earned: $0
Price spread: −0.079% → −0.053%: −$2.58
Slippage, 4 orders: −$213.3
Fee Aster: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$233.88
Costs to cover: 2.313%
Break-even: never at this rate

Slippage from Aster: live order book, 39 min ago; BingX: live order book, 16 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, 39 min ago	8.44 bp	102.9 bp −$103	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 16 min ago	4.36 bp	15.1 bp −$15	23.8 bp −$238	127.4 bp −$12.7K	409.0 bp −$204.5K

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	−1.164%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0344%	1h	2.5219	−0.059%	$30K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0123%	1h	2.5202	−0.126%	$77K	$239K	50x	as long as short
BloFin PENDLE-USDT	−0.0026%	8h	2.5192	−0.166%	$1.3M	$762K	75x	as long as short
Extended PENDLE-USD	−0.0024%	1h	2.5185	−0.195%	$166K	$528K	10x	as long as short
Binance PENDLEUSDT	−0.0023%	8h	2.5211	−0.090%	$27.3M	$41.9M	75x	as long as short
MEXC PENDLE_USDT	−0.0021%	8h	2.5199	−0.138%	$17.1M	$1.9M	125x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5218	−0.061%	$11K	—	5x	as long as short
Orderly PERP_PENDLE_USDC	+0.0002%	8h	2.5217	−0.067%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0044%	1h	2.5217	−0.067%	$4K	—	15x	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	+0.0045%	8h	2.5177	−0.226%	$590K	$1.9M	—	as long as short
GRVT PENDLE_USDT_Perp	+0.0054%	8h	2.5216	−0.072%	$418K	$1.6M	10x	as long as short
Aevo PENDLE-PERP	+0.0072%	1h	2.5211	−0.091%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5213	−0.082%	$531K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5191	−0.171%	$35K	$18K	10x	as long as short
Aster PENDLEUSDTlong	+0.0100%	8h	2.5234	long leg	$46K	$177K	10x
Bybit PENDLEUSDT	+0.0100%	8h	2.5210	−0.094%	$15.5M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5200	−0.134%	$3.2M	$6.0M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5200	−0.134%	$783K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5237	+0.013%	$894K	$597K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5191	−0.170%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDTshort	+0.0100%	8h	2.5214	−0.079%	—	$35.7M	—
edgeX PENDLEUSDC	+0.0100%	4h	2.5196	−0.148%	$25K	$396K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5246	+0.048%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5219	−0.059%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5227	−0.025%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0203%	1h	2.5267	+0.134%	$12.7M	$6.1M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0594%	1h	2.5256	+0.089%	$120K	$299K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+0.421%	$141K	$458K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0888%	1h	2.5258	+0.096%	$329K	$491K	15x	as long as short