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% APRpaid last 24h 0.000%

Price spread now: edgeX against Bitget0.000%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$520.521% of the position

Long on Bitget Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.048%+$5 on $10k

Price spread, last 3 days (all we have)+0.514%+$51 · spread now 0.000%, 7d avg +0.033%

Together, before fees+0.562%+ Points / potential airdropedgeX: Active · farm board+$56 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: edgeX is 0.033% cheaper against Bitget than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENDLEUSDT	2.5181	0.0100	pay 0.0100% / 8h	2h 41m	$3.7M	$2.6M	75x
Short	edgeX PENDLEUSDC	2.5181	0.0100	get 0.0050% / 4h	2h 41m	$25K	$414K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.033%: −$3.28
Slippage, 4 orders: −$31.07
Fee Bitget: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$55.35
Costs to cover: 0.521%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; edgeX: live order book, 47 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	2.78 bp	19.3 bp −$19	39.3 bp −$393	doesn't fit	doesn't fit
Sell edgeX live order book, 47 min ago	1.96 bp	7.4 bp −$7	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	−0.4806%	1h	2.4860	−1.275%	$2K	$7K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0429%	1h	2.5251	+0.279%	$150K	$280K	20x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0107%	1h	2.5205	+0.095%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5194	+0.052%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0015%	8h	2.5150	−0.123%	$608K	$2.3M	—	as long as short
Reya PENDLERUSDPERP	+0.0034%	1h	2.5198	+0.067%	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.0036%	8h	2.5210	+0.115%	$23K	$8K	10x	as long as short
Extended PENDLE-USD	+0.0040%	1h	2.5181	−0.002%	$165K	$524K	10x	as long as short
MEXC PENDLE_USDT	+0.0041%	8h	2.5199	+0.071%	$16.9M	$2.2M	125x	as long as short
Binance PENDLEUSDT	+0.0043%	8h	2.5196	+0.060%	$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	+0.048%	$1.3M	$769K	75x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5191	+0.040%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5192	+0.044%	$545K	$385K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5190	+0.035%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5230	+0.195%	$12.4M	$5.6M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5201	+0.078%	$41K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5186	+0.020%	$15.6M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5210	+0.115%	$3.3M	$5.7M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5200	+0.075%	$847K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5206	+0.099%	$913K	$609K	50x	as long as short
Bitget PENDLEUSDTlong	+0.0100%	8h	2.5181	long leg	$3.7M	$2.6M	75x
BingX PENDLE-USDT	+0.0100%	8h	2.5200	+0.075%	—	$36.3M	—	as long as short
edgeX PENDLEUSDCshort	+0.0100%	4h	2.5181	0.000%	$25K	$414K	10x
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5123	−0.232%	$422K	$1.6M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.5196	+0.060%	$77K	$239K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5226	+0.179%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5206	+0.099%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5214	+0.131%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5270	+0.353%	$118K	$439K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0874%	1h	2.5250	+0.274%	$366K	$467K	15x	as long as short