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% APRpaid last 24h +0.013%

Price spread now: OKX against Aster−0.049%7-day average −0.079% · 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−$92as in the Price arb table

costs, in and out, $10k−$950.949% of the position

Long on Aster Short on OKX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.027%+$3 on $10k

Price spread, last 4 days (all we have)−0.133%−$13 · spread now −0.049%, 7d avg −0.079%

Together, before fees−0.106%+ Points / potential airdropAster: Stage 5 · farm board−$11 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: OKX is 0.030% dearer against Aster than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.079%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENDLEUSDT	2.5152	0.0100	pay 0.0100% / 8h	10m 38s	$47K	$177K	10x
Short	OKX PENDLE-USDT-SWAP	2.5140	0.0100	get 0.0050% / 4h	10m 38s	$3.2M	$6.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.049%Rate

Funding earned: $0
Price spread: −0.049% → −0.079%: $3
Slippage, 4 orders: −$76.91
Fee Aster: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$91.91
Costs to cover: 0.949%
Break-even: never at this rate

Slippage from Aster: live order book, 1 min ago; OKX: live order book, 2 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, 1 min ago	4.38 bp	44.9 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	3.98 bp	14.9 bp −$15	75.8 bp −$758	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	−0.5000%	1h	2.4940	−0.844%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0625%	1h	2.5116	−0.144%	$28K	$11K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0066%	1h	2.5150	−0.009%	$77K	$239K	50x	as long as short
Binance PENDLEUSDT	−0.0066%	8h	2.5154	+0.007%	$27.2M	$42.1M	75x	as long as short
MEXC PENDLE_USDT	−0.0065%	8h	2.5139	−0.053%	$17.0M	$1.9M	125x	as long as short
Extended PENDLE-USD	−0.0064%	1h	2.5154	+0.006%	$165K	$528K	10x	as long as short
BloFin PENDLE-USDT	−0.0047%	8h	2.5102	−0.200%	$1.3M	$707K	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0008%	8h	2.5110	−0.168%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5127	−0.099%	$11K	—	5x	as long as short
GRVT PENDLE_USDT_Perp	+0.0016%	8h	2.5140	−0.049%	$416K	$1.6M	10x	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	+0.0022%	8h	2.5081	−0.282%	$596K	$1.9M	—	as long as short
Reya PENDLERUSDPERP	+0.0046%	1h	2.5108	−0.178%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.5101	−0.204%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5150	−0.009%	$530K	$416K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5149	−0.012%	$35K	$18K	10x	as long as short
Aster PENDLEUSDTlong	+0.0100%	8h	2.5152	long leg	$47K	$177K	10x
Bybit PENDLEUSDT	+0.0100%	8h	2.5127	−0.101%	$15.5M	$12.0M	50x	as long as short
OKX PENDLE-USDT-SWAPshort	+0.0100%	4h	2.5140	−0.049%	$3.2M	$6.0M	50x
Gate PENDLE_USDT	+0.0100%	8h	2.5140	−0.049%	$778K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5125	−0.109%	$883K	$600K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5137	−0.061%	$3.7M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5161	+0.034%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5152	0.000%	$25K	$380K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5135	−0.069%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5120	−0.129%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5116	−0.145%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0337%	1h	2.5184	+0.126%	$12.8M	$6.2M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0597%	1h	2.5161	+0.036%	$119K	$298K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+0.746%	$141K	$450K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0669%	1h	2.5152	−0.001%	$330K	$489K	15x	as long as short