Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0006%/8h= −0.6% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against BloFin+0.252%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$480.484% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 3 days (all we have)−0.447%−$45 · spread now +0.252%, 7d avg +0.029%

Together, before fees−0.518%−$52 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: ApeX Omni is 0.223% dearer against BloFin than usual: you sell high and buy low, +$22 on $10k if it goes back to its 7-day average of +0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PENDLE-USDT	2.4981	0.0035	pay 0.0035% / 8h	1h 37m	$1.3M	$730K	75x
Short	ApeX Omni PENDLEUSDT	2.5044	0.0029	get 0.0004% / 1h	37m 12s	$76K	$240K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now +0.252%Rate

Funding earned: −$1.18
Price spread: +0.252% → +0.029%: $22.28
Slippage, 4 orders: −$26.42
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$27.31
Costs to cover: 0.484%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; ApeX Omni: live order book, 44 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 BloFin live order book, 5 min ago	3.00 bp	11.1 bp −$11	20.3 bp −$203	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 44 min ago	3.37 bp	11.6 bp −$12	97.6 bp −$976	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	−0.3656%	1h	2.4770	−0.845%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0470%	1h	2.4989	+0.032%	$29K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5043	+0.250%	$11K	—	5x	as long as short
Binance PENDLEUSDT	+0.0023%	8h	2.4977	−0.016%	$27.1M	$40.2M	75x	as long as short
Extended PENDLE-USD	+0.0024%	1h	2.4967	−0.055%	$164K	$526K	10x	as long as short
MEXC PENDLE_USDT	+0.0024%	8h	2.4978	−0.012%	$16.9M	$2.1M	125x	as long as short
Orderly PERP_PENDLE_USDC	+0.0026%	8h	2.4983	+0.008%	$20K	$16K	10x	as long as short
ApeX Omni PENDLEUSDTshort	+0.0029%	1h	2.5044	+0.252%	$76K	$240K	50x
BloFin PENDLE-USDTlong	+0.0035%	8h	2.4981	long leg	$1.3M	$730K	75x
Reya PENDLERUSDPERP	+0.0040%	1h	2.4960	−0.084%	$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	+0.0065%	8h	2.5012	+0.125%	$553K	$2.0M	—	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.4975	−0.022%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4980	−0.004%	$525K	$422K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4983	+0.008%	$35K	$20K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5037	+0.223%	$12.3M	$5.8M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5004	+0.093%	$42K	$175K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4990	+0.036%	$15.4M	$11.8M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5000	+0.076%	$3.2M	$5.8M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5020	+0.156%	$785K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5016	+0.140%	$894K	$609K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5022	+0.164%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4986	+0.020%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5029	+0.193%	$25K	$410K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5027	+0.183%	$421K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4994	+0.052%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4996	+0.060%	$1K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.4992	+0.046%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5100	+0.476%	$139K	$462K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0753%	1h	2.5028	+0.189%	$147K	$278K	20x	as long as short
Backpack PENDLE_USDC_PERP	+0.0756%	1h	2.5038	+0.228%	$358K	$462K	15x	as long as short