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 0.000%

Price spread now: BingX against Bitget+0.024%7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$660.664% of the position

Long on Bitget Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 7 days+0.100%+$10 · spread now +0.024%, 7d avg +0.049%

Together, before fees+0.111%+$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: BingX is 0.025% cheaper against Bitget than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENDLEUSDT	2.5210	0.0100	pay 0.0100% / 8h	36m 55s	$3.7M	$2.7M	75x
Short	BingX PENDLE-USDT	2.5216	0.0100	get 0.0100% / 8h	36m 55s	—	$35.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.024%Rate

Funding earned: $0
Price spread: +0.024% → +0.049%: −$2.49
Slippage, 4 orders: −$44.43
Fee Bitget: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$68.92
Costs to cover: 0.664%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; BingX: live order book, 2 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, 1 min ago	4.96 bp	19.0 bp −$19	45.7 bp −$457	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	4.36 bp	14.0 bp −$14	25.0 bp −$250	136.1 bp −$13.6K	372.9 bp −$186.4K

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	−0.5000%	1h	2.4940	−1.071%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0265%	1h	2.5222	+0.048%	$30K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0123%	1h	2.5202	−0.032%	$77K	$239K	50x	as long as short
Extended PENDLE-USD	−0.0024%	1h	2.5211	+0.004%	$166K	$528K	10x	as long as short
Binance PENDLEUSDT	−0.0023%	8h	2.5226	+0.063%	$27.3M	$41.9M	75x	as long as short
MEXC PENDLE_USDT	−0.0021%	8h	2.5230	+0.079%	$17.1M	$1.9M	125x	as long as short
BloFin PENDLE-USDT	−0.0009%	8h	2.5234	+0.095%	$1.3M	$763K	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5218	+0.033%	$11K	—	5x	as long as short
Orderly PERP_PENDLE_USDC	+0.0001%	8h	2.5218	+0.032%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0044%	1h	2.5217	+0.027%	$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	+0.0045%	8h	2.5177	−0.131%	$590K	$1.9M	—	as long as short
GRVT PENDLE_USDT_Perp	+0.0054%	8h	2.5216	+0.022%	$418K	$1.6M	10x	as long as short
Aevo PENDLE-PERP	+0.0072%	1h	2.5206	−0.018%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5235	+0.099%	$531K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5191	−0.077%	$35K	$18K	10x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5245	+0.138%	$46K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5210	0.000%	$15.5M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5220	+0.040%	$3.3M	$6.1M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5220	+0.040%	$784K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5249	+0.155%	$894K	$597K	50x	as long as short
Bitget PENDLEUSDTlong	+0.0100%	8h	2.5210	long leg	$3.7M	$2.7M	75x
BingX PENDLE-USDTshort	+0.0100%	8h	2.5216	+0.024%	—	$35.7M	—
edgeX PENDLEUSDC	+0.0100%	4h	2.5196	−0.054%	$25K	$396K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5246	+0.143%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5206	−0.016%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5234	+0.097%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0208%	1h	2.5287	+0.305%	$12.7M	$6.1M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0594%	1h	2.5274	+0.254%	$120K	$299K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+0.516%	$141K	$458K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0863%	1h	2.5269	+0.234%	$329K	$491K	15x	as long as short