Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0074%/8h= +8.1% APRpaid last 24h +0.009%

Price spread now: edgeX against Aster−0.122%7-day average −0.036% · 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−$210as in the Price arb table

costs, in and out, $10k−$2022.016% of the position

Long on Aster Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)+0.047%+$5 on $10k

Price spread, last 4 days (all we have)+0.766%+$77 · spread now −0.122%, 7d avg −0.036%

Together, before fees+0.813%+ Points / potential airdropAster: Stage 5 · edgeX: Active · farm board+$81 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.086% cheaper against Aster than usual: you would sell low and buy high (spread −0.122% now, against its 7-day average of −0.036%). If the spread goes back, that is −$9 on $10k: about 3.9 days of funding at the current rate (+$2 a day). At the pace of the last 6 days (+0.047% in total) that is about 10 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENDLEUSDT	2.4550	0.0026	pay 0.0026% / 8h	7h 05m	$50K	$179K	10x
Short	edgeX PENDLEUSDC	2.4520	0.0100	get 0.0050% / 4h	3h 05m	$23K	$370K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.122%Rate

Funding earned: $15.48
Price spread: −0.122% → −0.036%: −$8.6
Slippage, 4 orders: −$184.65
Fee Aster: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$194.78
Costs to cover: 2.016%
Break-even: 95.1 days

Slippage from Aster: live order book, 26 min ago; edgeX: live order book, 28 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, 26 min ago	3.10 bp	178.3 bp −$178	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 28 min ago	1.45 bp	6.4 bp −$6	67.3 bp −$673	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	−0.3627%	1h	2.3930	−2.524%	$2K	$55K	5.5x	as long as short
GRVT PENDLE_USDT_Perp	−0.0147%	8h	2.4537	−0.052%	$413K	$2.7M	10x	as long as short
Extended PENDLE-USD	−0.0088%	1h	2.4560	+0.043%	$162K	$934K	10x	as long as short
MEXC PENDLE_USDT	−0.0084%	8h	2.4543	−0.027%	$18.4M	$2.1M	125x	as long as short
Binance PENDLEUSDT	−0.0082%	8h	2.4534	−0.063%	$25.7M	$46.7M	75x	as long as short
BloFin PENDLE-USDT	−0.0071%	8h	2.4552	+0.009%	$1.1M	$517K	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0005%	8h	2.4537	−0.052%	$19K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4546	−0.016%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4548	−0.007%	$25K	$14K	10x	as long as short
Aster PENDLEUSDTlong	+0.0026%	8h	2.4550	long leg	$50K	$179K	10x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PENDLE-PERP	+0.0056%	1h	2.4543	−0.025%	$26K	—	3x	as long as short
ApeX Omni PENDLEUSDT	+0.0089%	1h	2.4535	−0.060%	$75K	$231K	50x	as long as short
Reya PENDLERUSDPERP	+0.0090%	1h	2.4542	−0.030%	$3K	—	15x	as long as short
Variational Omni PENDLE	+0.0091%	8h	2.4511	−0.158%	$584K	$1.2M	—	as long as short
Lighter PENDLE	+0.0096%	1h	2.4580	+0.123%	$529K	$444K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4559	+0.036%	$34K	$3K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4584	+0.140%	$12.9M	$6.0M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4521	−0.117%	$14.2M	$11.8M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4540	−0.040%	$3.1M	$6.8M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4560	+0.042%	$778K	$997K	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4541	−0.035%	$702K	$596K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4555	+0.022%	$3.9M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4541	−0.035%	—	$8.4M	—	as long as short
edgeX PENDLEUSDCshort	+0.0100%	4h	2.4520	−0.122%	$23K	$370K	10x
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4545	−0.019%	$16K	$4K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4560	+0.042%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0151% / S −0.0168%	1h	2.4546	−0.013%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0664%	1h	2.4620	+0.286%	$171K	$538K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0819%	1h	2.4600	+0.205%	$365K	$433K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1265%	1h	2.4531	−0.075%	$116K	$253K	20x	as long as short