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% APRnext payment −$0.00 per $10,000 · paid last 24h −0.013%

Price spread now: Aster against Bitget+0.150%7-day average +0.078% · 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−$165as in the Price arb table

costs, in and out, $10k−$1721.722% of the position

Long on Bitget Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.045%−$4 on $10k

Price spread, last 4 days (all we have)+0.116%+$12 · spread now +0.150%, 7d avg +0.078%

Together, before fees+0.071%+ Points / potential airdropAster: Stage 5 · farm board+$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: Aster is 0.071% dearer against Bitget than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.078%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENDLEUSDT	2.5174	0.0100	pay 0.0100% / 8h	2h 42m	$3.7M	$2.6M	75x
Short	Aster PENDLEUSDT	2.5212	0.0100	get 0.0100% / 8h	2h 42m	$41K	$177K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Bitget. 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 BitgetbpFee AsterbpOrdersPrice spread, now +0.150%Rate

Funding earned: −$0.09
Price spread: +0.150% → +0.078%: $7.13
Slippage, 4 orders: −$152.2
Fee Bitget: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$165.15
Costs to cover: 1.722%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; Aster: live order book, 43 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 Bitget live order book, 5 min ago	3.77 bp	19.2 bp −$19	29.6 bp −$296	doesn't fit	doesn't fit
Sell Aster live order book, 43 min ago	8.44 bp	26.1 bp −$26	311.5 bp −$3,115	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	−0.4806%	1h	2.4860	−1.247%	$2K	$7K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0429%	1h	2.5245	+0.282%	$150K	$280K	20x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5214	+0.160%	$11K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.5215	+0.163%	$30K	$10K	10x	as long as short
Variational Omni PENDLE	+0.0015%	8h	2.5150	−0.095%	$608K	$2.3M	—	as long as short
Reya PENDLERUSDPERP	+0.0034%	1h	2.5196	+0.088%	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.0036%	8h	2.5205	+0.123%	$23K	$8K	10x	as long as short
MEXC PENDLE_USDT	+0.0039%	8h	2.5205	+0.123%	$16.9M	$2.2M	125x	as long as short
Extended PENDLE-USD	+0.0040%	1h	2.5170	−0.015%	$165K	$524K	10x	as long as short
Binance PENDLEUSDT	+0.0042%	8h	2.5201	+0.107%	$27.5M	$39.1M	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin PENDLE-USDT	+0.0064%	8h	2.5193	+0.075%	$1.3M	$769K	75x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5206	+0.127%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5204	+0.119%	$552K	$376K	5x	as long as short
Aster PENDLEUSDTshort	+0.0100%	8h	2.5212	+0.150%	$41K	$177K	10x
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5191	+0.069%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5236	+0.246%	$12.4M	$5.6M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5172	−0.008%	$15.6M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5200	+0.103%	$3.3M	$5.7M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5200	+0.103%	$847K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5205	+0.123%	$913K	$609K	50x	as long as short
Bitget PENDLEUSDTlong	+0.0100%	8h	2.5174	long leg	$3.7M	$2.6M	75x
BingX PENDLE-USDT	+0.0100%	8h	2.5201	+0.107%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5181	+0.028%	$25K	$414K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5123	−0.204%	$422K	$1.6M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.5196	+0.087%	$77K	$239K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5225	+0.203%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5210	+0.143%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5210	+0.142%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5270	+0.381%	$118K	$439K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0885%	1h	2.5258	+0.334%	$366K	$467K	15x	as long as short