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: Bitget against Aster−0.121%7-day average −0.078% · 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−$246as in the Price arb table

costs, in and out, $10k−$2412.414% of the position

Long on Aster Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.045%+$4 on $10k

Price spread, last 4 days (all we have)−0.188%−$19 · spread now −0.121%, 7d avg −0.078%

Together, before fees−0.144%+ Points / potential airdropAster: Stage 5 · farm board−$14 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: Bitget is 0.043% cheaper against Aster than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.078%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENDLEUSDT	2.4982	0.0100	pay 0.0100% / 8h	1h 03m	$44K	$176K	10x
Short	Bitget PENDLEUSDT	2.4952	0.0100	get 0.0100% / 8h	1h 03m	$3.7M	$2.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.121%Rate

Funding earned: $0
Price spread: −0.121% → −0.078%: −$4.31
Slippage, 4 orders: −$221.43
Fee Aster: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$245.75
Costs to cover: 2.414%
Break-even: never at this rate

Slippage from Aster: live order book, 13 min ago; Bitget: live order book, 9 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, 13 min ago	8.44 bp	102.9 bp −$103	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 9 min ago	2.62 bp	20.1 bp −$20	37.8 bp −$378	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	−0.3656%	1h	2.4550	−1.730%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0270%	1h	2.4984	+0.007%	$29K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0086%	1h	2.4893	−0.357%	$76K	$239K	50x	as long as short
BloFin PENDLE-USDT	−0.0039%	8h	2.4914	−0.273%	$1.3M	$743K	75x	as long as short
Extended PENDLE-USD	−0.0016%	1h	2.4954	−0.113%	$164K	$526K	10x	as long as short
MEXC PENDLE_USDT	−0.0015%	8h	2.4980	−0.009%	$16.9M	$2.1M	125x	as long as short
Binance PENDLEUSDT	−0.0013%	8h	2.4965	−0.069%	$27.0M	$41.3M	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4983	+0.004%	$11K	—	5x	as long as short
Orderly PERP_PENDLE_USDC	+0.0011%	8h	2.4968	−0.057%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0042%	1h	2.4964	−0.072%	$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	+0.0058%	8h	2.4872	−0.443%	$550K	$2.0M	—	as long as short
GRVT PENDLE_USDT_Perp	+0.0060%	8h	2.4917	−0.261%	$414K	$1.6M	10x	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.4966	−0.065%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4990	+0.031%	$528K	$427K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4984	+0.006%	$35K	$20K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4996	+0.055%	$12.3M	$6.0M	5x	as long as short
Aster PENDLEUSDTlong	+0.0100%	8h	2.4982	long leg	$44K	$176K	10x
Bybit PENDLEUSDT	+0.0100%	8h	2.4970	−0.049%	$15.4M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4980	−0.009%	$3.2M	$6.0M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4970	−0.049%	$784K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4979	−0.013%	$888K	$597K	50x	as long as short
Bitget PENDLEUSDTshort	+0.0100%	8h	2.4952	−0.121%	$3.7M	$2.7M	75x
BingX PENDLE-USDT	+0.0100%	8h	2.4978	−0.017%	—	$35.5M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4905	−0.311%	$25K	$397K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4985	+0.011%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4982	−0.001%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.4979	−0.013%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5030	+0.191%	$139K	$462K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0675%	1h	2.5044	+0.247%	$356K	$476K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0753%	1h	2.5015	+0.132%	$118K	$305K	20x	as long as short