Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0108%/8h= +11.9% APRpaid last 24h +0.017%

Price spread now: edgeX against Binance+0.043%7-day average −0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$360.358% of the position

Long on Binance Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.084%+$8 on $10k

Price spread, last 4 days (all we have)+0.200%+$20 · spread now +0.043%, 7d avg −0.019%

Together, before fees+0.284%+ Points / potential airdropedgeX: Active · farm board+$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and edgeX is 0.062% dearer against Binance than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PENDLEUSDT	2.4458	−0.0008	get 0.0008% / 8h	2h 42m	$25.8M	$44.3M	75x
Short	edgeX PENDLEUSDC	2.4469	0.0100	get 0.0050% / 4h	2h 42m	$24K	$376K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Binance. 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 BinancebpFee edgeXbpOrdersPrice spread, now +0.043%Rate

Funding earned: $22.75
Price spread: +0.043% → −0.019%: $6.22
Slippage, 4 orders: −$16.85
Fee Binance: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$6.88
Costs to cover: 0.358%
Break-even: 9.1 days

Slippage from Binance: live order book, 14 min ago; edgeX: live order book, 5 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 Binance live order book, 14 min ago	0.61 bp	10.2 bp −$10	29.1 bp −$291	doesn't fit	doesn't fit
Sell edgeX live order book, 5 min ago	1.63 bp	6.3 bp −$6	65.9 bp −$659	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	−0.3926%	1h	2.4240	−0.891%	$2K	$54K	5.5x	as long as short
Gate PENDLE_USDT	−0.0050%	8h	2.4470	+0.049%	$719K	$1.1M	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0036%	8h	2.4458	0.000%	$19K	$15K	10x	as long as short
MEXC PENDLE_USDT	−0.0011%	8h	2.4453	−0.020%	$17.3M	$2.0M	125x	as long as short
Binance PENDLEUSDTlong	−0.0008%	8h	2.4458	long leg	$25.8M	$44.3M	75x
Extended PENDLE-USD	−0.0008%	1h	2.4440	−0.075%	$158K	$579K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4505	+0.193%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4461	+0.012%	$24K	$15K	10x	as long as short
BloFin PENDLE-USDT	+0.0011%	8h	2.4458	0.000%	$1.1M	$600K	75x	as long as short
ApeX Omni PENDLEUSDT	+0.0068%	1h	2.4489	+0.127%	$74K	$233K	50x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya PENDLERUSDPERP	+0.0073%	1h	2.4457	−0.003%	$3K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.4452	−0.025%	$26K	—	3x	as long as short
Aster PENDLEUSDT	+0.0088%	8h	2.4463	+0.020%	$46K	$171K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0094%	8h	2.4470	+0.049%	$405K	$2.1M	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4469	+0.045%	$516K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4454	−0.015%	$34K	$9K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4500	+0.170%	$12.6M	$6.1M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4440	−0.074%	$14.3M	$12.0M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4470	+0.049%	$3.1M	$6.4M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4486	+0.114%	$862K	$555K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4457	−0.004%	$3.6M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4465	+0.029%	—	$8.4M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4451	−0.030%	$549K	$1.4M	—	as long as short
edgeX PENDLEUSDCshort	+0.0100%	4h	2.4469	+0.043%	$24K	$376K	10x
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4482	+0.098%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4467	+0.037%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4457	−0.006%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0552%	1h	2.4505	+0.192%	$354K	$402K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.4530	+0.294%	$154K	$520K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1190%	1h	2.4521	+0.257%	$115K	$263K	20x	as long as short