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 0.000%

Price spread now: Paradex against Bitget+0.041%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.041% dearer against Bitget than usual: you sell high and buy low, +$4 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENDLEUSDT	2.5137	0.0100	pay 0.0100% / 8h	1h 54m	$3.7M	$2.7M	75x
Short	Paradex PENDLE-USD-PERP	2.5147	0.0100	get 0.0100% / 8h	1h 54m	$35K	$20K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.041%Rate

Funding earned: $0
Price spread: +0.041% → 0.000%: $4.1
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$11.9
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 3 min ago; Paradex: no order-book sample. Net counts fees only.

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, 3 min ago	1.79 bp	21.0 bp −$21	38.6 bp −$386	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−1.460%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0226%	1h	2.5172	+0.139%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5181	+0.175%	$11K	—	5x	as long as short
BloFin PENDLE-USDT	+0.0021%	8h	2.5155	+0.072%	$1.3M	$732K	75x	as long as short
Orderly PERP_PENDLE_USDC	+0.0031%	8h	2.5118	−0.076%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0038%	1h	2.5112	−0.100%	$4K	—	15x	as long as short
MEXC PENDLE_USDT	+0.0045%	8h	2.5138	+0.004%	$17.0M	$2.1M	125x	as long as short
Binance PENDLEUSDT	+0.0047%	8h	2.5108	−0.114%	$27.2M	$39.6M	75x	as long as short
Extended PENDLE-USD	+0.0048%	1h	2.5139	+0.008%	$165K	$524K	10x	as long as short
Variational Omni PENDLE	+0.0060%	8h	2.5103	−0.136%	$618K	$2.0M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PENDLE	+0.0096%	1h	2.5157	+0.080%	$528K	$421K	5x	as long as short
Aevo PENDLE-PERP	+0.0096%	1h	2.5160	+0.093%	$26K	—	3x	as long as short
Paradex PENDLE-USD-PERPshort	+0.0100%	8h	2.5147	+0.041%	$35K	$20K	10x
Aster PENDLEUSDT	+0.0100%	8h	2.5152	+0.059%	$41K	$172K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5111	−0.103%	$15.5M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5110	−0.107%	$3.2M	$5.8M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5170	+0.131%	$859K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5156	+0.076%	$897K	$605K	50x	as long as short
Bitget PENDLEUSDTlong	+0.0100%	8h	2.5137	long leg	$3.7M	$2.7M	75x
BingX PENDLE-USDT	+0.0100%	8h	2.5150	+0.052%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5048	−0.355%	$25K	$409K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5144	+0.028%	$424K	$1.6M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.5121	−0.064%	$77K	$240K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5149	+0.048%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5167	+0.119%	$2K	$1.7M	20x	as long as short
Hyperliquid PENDLE	+0.0148%	1h	2.5163	+0.103%	$12.4M	$5.6M	5x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5129	−0.031%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5180	+0.171%	$117K	$417K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0747%	1h	2.5225	+0.348%	$150K	$274K	20x	as long as short
Backpack PENDLE_USDC_PERP	+0.1300%	1h	2.5244	+0.426%	$359K	$460K	15x	as long as short