Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.013%

Price spread now: Aster against BingX+0.028%7-day average +0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$339as in the Price arb table

costs, in and out, $10k−$3363.360% of the position

Long on BingX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.044%−$4 on $10k

Price spread, last 4 days (all we have)+0.150%+$15 · spread now +0.028%, 7d avg +0.054%

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: Aster is 0.026% cheaper against BingX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PENDLE-USDT	2.5080	0.0100	pay 0.0100% / 8h	1h 57m	—	$36.3M	—
Short	Aster PENDLEUSDT	2.5087	0.0100	get 0.0100% / 8h	1h 57m	$41K	$172K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against BingX. 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 BingXbpFee AsterbpOrdersPrice spread, now +0.028%Rate

Funding earned: $0
Price spread: +0.028% → +0.054%: −$2.65
Slippage, 4 orders: −$317.97
Fee BingX: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$338.62
Costs to cover: 3.360%
Break-even: never at this rate

Slippage from BingX: live order book, 11 min ago; Aster: live order book, 24 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 BingX live order book, 11 min ago	3.19 bp	11.6 bp −$12	22.5 bp −$225	231.0 bp −$23.1K	476.8 bp −$238.4K
Sell Aster live order book, 24 min ago	11.09 bp	131.5 bp −$132	doesn't fit	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	−0.3656%	1h	2.4770	−1.236%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0268%	1h	2.5083	+0.012%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5092	+0.050%	$11K	—	5x	as long as short
Orderly PERP_PENDLE_USDC	+0.0032%	8h	2.5079	−0.004%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0038%	1h	2.5080	0.000%	$4K	—	15x	as long as short
Extended PENDLE-USD	+0.0040%	1h	2.5070	−0.040%	$165K	$524K	10x	as long as short
MEXC PENDLE_USDT	+0.0041%	8h	2.5080	0.000%	$16.9M	$2.1M	125x	as long as short
Binance PENDLEUSDT	+0.0043%	8h	2.5077	−0.011%	$27.2M	$39.6M	75x	as long as short
Variational Omni PENDLE	+0.0053%	8h	2.5054	−0.104%	$615K	$2.1M	—	as long as short
BloFin PENDLE-USDT	+0.0066%	8h	2.5044	−0.144%	$1.3M	$734K	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni PENDLEUSDT	+0.0077%	1h	2.5038	−0.167%	$76K	$240K	50x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5069	−0.044%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5082	+0.008%	$526K	$421K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5076	−0.015%	$35K	$20K	10x	as long as short
Aster PENDLEUSDTshort	+0.0100%	8h	2.5087	+0.028%	$41K	$172K	10x
Bybit PENDLEUSDT	+0.0100%	8h	2.5072	−0.032%	$15.5M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5090	+0.040%	$3.2M	$5.7M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5090	+0.040%	$856K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5088	+0.032%	$894K	$608K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5069	−0.044%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDTlong	+0.0100%	8h	2.5080	long leg	—	$36.3M	—
edgeX PENDLEUSDC	+0.0100%	4h	2.5039	−0.165%	$25K	$412K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5032	−0.192%	$422K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5097	+0.068%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5080	0.000%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5094	+0.055%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0257%	1h	2.5115	+0.140%	$12.4M	$5.7M	5x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5090	+0.040%	$117K	$418K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0749%	1h	2.5138	+0.233%	$150K	$275K	20x	as long as short
Backpack PENDLE_USDC_PERP	+0.1524%	1h	2.5135	+0.219%	$358K	$460K	15x	as long as short