Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0065%/8h= +7.1% APRpaid last 24h −0.021%

Price spread now: dYdX against Aster+0.047%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Aster Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and dYdX is 0.047% dearer against Aster than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENDLEUSDT	2.4806	−0.0065	get 0.0065% / 8h	5h 44m	$47K	$175K	10x
Short	dYdX PENDLE-USD	2.4818	0	get 0.0000% / 1h	44m 42s	$10K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.047%Rate

Funding earned: $13.6
Price spread: +0.047% → 0.000%: $4.75
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: $0.35
Costs to cover: 0.180%
Break-even: 6.8 days

Slippage unknown: Aster: live order book, 17 min ago; dYdX: no order-book sample. Net counts fees only.

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, 17 min ago	5.59 bp	108.3 bp −$108	doesn't fit	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−1.274%	$2K	$54K	5.5x	as long as short
Extended PENDLE-USD	−0.0128%	1h	2.4809	+0.014%	$163K	$568K	10x	as long as short
MEXC PENDLE_USDT	−0.0127%	8h	2.4830	+0.097%	$17.2M	$1.8M	125x	as long as short
ApeX Omni PENDLEUSDT	−0.0126%	1h	2.4850	+0.177%	$76K	$235K	50x	as long as short
Binance PENDLEUSDT	−0.0126%	8h	2.4833	+0.108%	$26.7M	$43.1M	75x	as long as short
BloFin PENDLE-USDT	−0.0104%	8h	2.4809	+0.012%	—	$645K	75x	as long as short
GRVT PENDLE_USDT_Perp	−0.0068%	8h	2.4733	−0.294%	$410K	$1.7M	10x	as long as short
Aster PENDLEUSDTlong	−0.0065%	8h	2.4806	long leg	$47K	$175K	10x
Orderly PERP_PENDLE_USDC	−0.0039%	8h	2.4811	+0.020%	$19K	$15K	10x	as long as short
Variational Omni PENDLE	−0.0019%	8h	2.4691	−0.465%	$544K	$1.8M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENDLE_USDT	−0.0015%	8h	2.4800	−0.024%	$723K	$1.1M	75x	as long as short
dYdX PENDLE-USDshort	0.0000%	1h	2.4818	+0.047%	$10K	—	5x
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4820	+0.056%	$25K	$14K	10x	as long as short
Aevo PENDLE-PERP	+0.0048%	1h	2.4786	−0.081%	$26K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0058%	1h	2.4803	−0.014%	$4K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4833	+0.109%	$529K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4768	−0.153%	$35K	$15K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4858	+0.210%	$12.6M	$6.0M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4820	+0.056%	$14.9M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4820	+0.056%	$3.1M	$6.1M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4815	+0.036%	$844K	$575K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4837	+0.125%	$3.7M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4830	+0.097%	—	$33.6M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4747	−0.237%	$24K	$380K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4838	+0.129%	$16K	$8K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4843	+0.149%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0190% / S −0.0312%	1h	2.4814	+0.034%	$7K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0327%	1h	2.4858	+0.210%	$354K	$481K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0552%	1h	2.4790	−0.065%	$149K	$489K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0753%	1h	2.4878	+0.291%	$116K	$283K	20x	as long as short