Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0177%/8h= +19.4% APRpaid last 24h +0.057%

Price spread now: GMX against Aster+0.053%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 GMX

What this pair did over the last

the charts below follow

Funding, last 3 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 +$5 a day on $10k at the current rate, and GMX is 0.053% 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	2.5201	0.0100	pay 0.0100% / 8h	2h 41m	$41K	$177K	10x
Short	GMX PENDLE/USD [PENDLE-USDC]	2.5214	L +0.0200% / S −0.0277%	get 0.0035% / 1h	41m 23s	$5K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.053%Rate

Funding earned: $37.23
Price spread: +0.053% → 0.000%: $5.26
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $22.48
Costs to cover: 0.200%
Break-even: 2.8 days

Slippage unknown: Aster: live order book, 44 min ago; GMX: 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, 44 min ago	8.44 bp	107.7 bp −$108	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.4806%	1h	2.4860	−1.352%	$2K	$7K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0429%	1h	2.5251	+0.201%	$150K	$280K	20x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0107%	1h	2.5205	+0.017%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5194	−0.026%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0015%	8h	2.5150	−0.200%	$608K	$2.3M	—	as long as short
Reya PENDLERUSDPERP	+0.0034%	1h	2.5198	−0.011%	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.0036%	8h	2.5210	+0.037%	$23K	$8K	10x	as long as short
Extended PENDLE-USD	+0.0040%	1h	2.5181	−0.080%	$165K	$524K	10x	as long as short
MEXC PENDLE_USDT	+0.0041%	8h	2.5199	−0.007%	$16.9M	$2.2M	125x	as long as short
Binance PENDLEUSDT	+0.0043%	8h	2.5196	−0.018%	$27.5M	$39.1M	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin PENDLE-USDT	+0.0064%	8h	2.5193	−0.030%	$1.3M	$769K	75x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5191	−0.038%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5192	−0.034%	$545K	$385K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5190	−0.043%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5230	+0.116%	$12.4M	$5.6M	5x	as long as short
Aster PENDLEUSDTlong	+0.0100%	8h	2.5201	long leg	$41K	$177K	10x
Bybit PENDLEUSDT	+0.0100%	8h	2.5186	−0.058%	$15.6M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5210	+0.037%	$3.3M	$5.7M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5200	−0.003%	$847K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5206	+0.021%	$913K	$609K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5181	−0.078%	$3.7M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5200	−0.003%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5181	−0.078%	$25K	$414K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5123	−0.309%	$422K	$1.6M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.5196	−0.018%	$77K	$239K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5226	+0.101%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5206	+0.021%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]short	L +0.0200% / S −0.0277%	1h	2.5214	+0.053%	$5K	—	100x
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5270	+0.275%	$118K	$439K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0874%	1h	2.5250	+0.196%	$366K	$467K	15x	as long as short