Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.010%

Price spread now: Polymarket Perps against Aster+0.084%46s7-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 Polymarket Perps

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.084% dearer against Aster than usual: you sell high and buy low, +$8 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENDLEUSDT	2.4983	0.0100	pay 0.0100% / 8h	1h 01m	$44K	$176K	10x
Short	Polymarket Perps PENDLE-USD	2.5004	0.0100	get 0.0013% / 1h	1m 42s	$16K	$20K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.084%Rate

Funding earned: $0
Price spread: +0.084% → 0.000%: $8.44
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$7.56
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 15 min ago; Polymarket Perps: 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, 15 min ago	8.44 bp	102.9 bp −$103	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps no order-book sample	—	—	—	—	—

Polymarket Perps: 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	−0.3656%	1h	2.4550	−1.733%	$2K	$53K	5.5x	as long as short
ApeX Omni PENDLEUSDT	−0.0086%	1h	2.4893	−0.360%	$76K	$239K	50x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0070%	1h	2.4984	+0.004%	$29K	$10K	10x	as long as short
BloFin PENDLE-USDT	−0.0041%	8h	2.4965	−0.072%	$1.3M	$746K	75x	as long as short
Extended PENDLE-USD	−0.0016%	1h	2.4975	−0.032%	$164K	$526K	10x	as long as short
MEXC PENDLE_USDT	−0.0012%	8h	2.4988	+0.020%	$16.9M	$2.1M	125x	as long as short
Binance PENDLEUSDT	−0.0012%	8h	2.4991	+0.032%	$27.0M	$41.3M	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4983	+0.001%	$11K	—	5x	as long as short
Orderly PERP_PENDLE_USDC	+0.0011%	8h	2.4978	−0.020%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0042%	1h	2.4977	−0.023%	$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	−0.445%	$550K	$2.0M	—	as long as short
GRVT PENDLE_USDT_Perp	+0.0060%	8h	2.4917	−0.264%	$414K	$1.6M	10x	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.4985	+0.009%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4990	+0.028%	$528K	$427K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4988	+0.019%	$35K	$20K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5021	+0.154%	$12.3M	$6.0M	5x	as long as short
Aster PENDLEUSDTlong	+0.0100%	8h	2.4983	long leg	$44K	$176K	10x
Bybit PENDLEUSDT	+0.0100%	8h	2.4990	+0.028%	$15.4M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5000	+0.068%	$3.2M	$6.0M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4970	−0.052%	$784K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4996	+0.052%	$889K	$597K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4963	−0.080%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4991	+0.032%	—	$35.5M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4905	−0.314%	$25K	$397K	10x	as long as short
Polymarket Perps PENDLE-USDshort	+0.0100%	1h	2.5004	+0.084%	$16K	$20K	5x
SunX PENDLE-USDT	+0.0100%	8h	2.4994	+0.044%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.4996	+0.053%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5030	+0.188%	$139K	$462K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0689%	1h	2.5027	+0.176%	$356K	$477K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0753%	1h	2.5010	+0.110%	$118K	$305K	20x	as long as short