Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: OKX against BingX+0.086%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$600.603% of the position

Long on BingX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 7 days−0.077%−$8 · spread now +0.086%, 7d avg −0.002%

Together, before fees−0.068%−$7 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 0.088% dearer against BingX than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PENDLE-USDT	2.4449	0.0100	pay 0.0100% / 8h	2h 42m	—	$8.4M	—
Short	OKX PENDLE-USDT-SWAP	2.4470	0.0100	get 0.0050% / 4h	2h 42m	$3.1M	$6.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.086%Rate

Funding earned: $0
Price spread: +0.086% → −0.002%: $8.83
Slippage, 4 orders: −$40.3
Fee BingX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$51.47
Costs to cover: 0.603%
Break-even: never at this rate

Slippage from BingX: live order book, 6 min ago; OKX: live order book, 6 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, 6 min ago	4.08 bp	13.1 bp −$13	25.6 bp −$256	217.8 bp −$21.8K	478.5 bp −$239.3K
Sell OKX live order book, 6 min ago	2.04 bp	15.1 bp −$15	70.7 bp −$707	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	−0.855%	$2K	$54K	5.5x	as long as short
Gate PENDLE_USDT	−0.0052%	8h	2.4470	+0.086%	$719K	$1.1M	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0035%	8h	2.4451	+0.008%	$19K	$15K	10x	as long as short
Extended PENDLE-USD	−0.0008%	1h	2.4441	−0.032%	$158K	$579K	10x	as long as short
MEXC PENDLE_USDT	−0.0008%	8h	2.4437	−0.049%	$17.3M	$2.0M	125x	as long as short
Binance PENDLEUSDT	−0.0007%	8h	2.4442	−0.030%	$25.8M	$44.2M	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4505	+0.229%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4459	+0.041%	$24K	$15K	10x	as long as short
BloFin PENDLE-USDT	+0.0011%	8h	2.4458	+0.037%	$1.1M	$600K	75x	as long as short
ApeX Omni PENDLEUSDT	+0.0068%	1h	2.4489	+0.164%	$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	2.4436	−0.054%	$3K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.4445	−0.016%	$26K	—	3x	as long as short
Aster PENDLEUSDT	+0.0090%	8h	2.4456	+0.029%	$46K	$171K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0094%	8h	2.4470	+0.086%	$405K	$2.1M	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4470	+0.086%	$516K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4425	−0.099%	$34K	$9K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4475	+0.106%	$12.6M	$6.1M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4430	−0.078%	$14.3M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAPshort	+0.0100%	4h	2.4470	+0.086%	$3.1M	$6.4M	50x
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4483	+0.139%	$862K	$555K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4428	−0.086%	$3.6M	$2.3M	75x	as long as short
BingX PENDLE-USDTlong	+0.0100%	8h	2.4449	long leg	—	$8.4M	—
Variational Omni PENDLE	+0.0100%	8h	2.4451	+0.007%	$549K	$1.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4469	+0.080%	$24K	$376K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4462	+0.053%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4460	+0.045%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4435	−0.056%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0552%	1h	2.4505	+0.229%	$354K	$402K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.4530	+0.331%	$154K	$520K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1190%	1h	2.4512	+0.257%	$115K	$263K	20x	as long as short