Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0146%/8h= +15.9% APRpaid last 24h +0.001%

Price spread now: Polymarket Perps against BloFin+0.040%7-day average — · you sell dearer than you buy

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

Long on BloFin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.081%−$8 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Polymarket Perps is 0.040% dearer against BloFin than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.081%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PENDLE-USDT	2.5256	−0.0046	get 0.0046% / 8h	28m 43s	$1.3M	$754K	75x
Short	Polymarket Perps PENDLE-USD	2.5266	0.0100	get 0.0013% / 1h	28m 43s	$16K	$20K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.040%Rate

Funding earned: $30.56
Price spread: +0.040% → 0.000%: $3.96
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $14.52
Costs to cover: 0.200%
Break-even: 3.7 days

Slippage unknown: BloFin: live order book, 4 min ago; Polymarket Perps: 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 BloFin live order book, 4 min ago	0.40 bp	15.7 bp −$16	27.6 bp −$276	doesn't fit	doesn't fit
Sell Polymarket Perps no order-book sample	—	—	—	—	—

Polymarket Perps: 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	−0.5000%	1h	2.4940	−1.251%	$2K	$54K	5.5x	as long as short
ApeX Omni PENDLEUSDT	−0.0061%	1h	2.5232	−0.095%	$77K	$240K	50x	as long as short
BloFin PENDLE-USDTlong	−0.0046%	8h	2.5256	long leg	$1.3M	$754K	75x
Binance PENDLEUSDT	−0.0032%	8h	2.5277	+0.085%	$27.3M	$42.1M	75x	as long as short
Extended PENDLE-USD	−0.0032%	1h	2.5260	+0.016%	$166K	$528K	10x	as long as short
MEXC PENDLE_USDT	−0.0031%	8h	2.5278	+0.087%	$17.1M	$1.9M	125x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0027%	1h	2.5273	+0.067%	$30K	$10K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0003%	8h	2.5272	+0.063%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5217	−0.155%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0040%	8h	2.5182	−0.293%	$594K	$1.9M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT PENDLE_USDT_Perp	+0.0044%	8h	2.5188	−0.270%	$417K	$1.6M	10x	as long as short
Reya PENDLERUSDPERP	+0.0045%	1h	2.5255	−0.002%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0072%	1h	2.5258	+0.008%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5277	+0.083%	$533K	$416K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5196	−0.239%	$35K	$18K	10x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5268	+0.048%	$46K	$178K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5260	+0.016%	$15.6M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5280	+0.095%	$3.3M	$6.1M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5220	−0.143%	$783K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5275	+0.075%	$895K	$600K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5264	+0.032%	$3.8M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5258	+0.008%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5230	−0.105%	$25K	$397K	10x	as long as short
Polymarket Perps PENDLE-USDshort	+0.0100%	1h	2.5266	+0.040%	$16K	$20K	5x
SunX PENDLE-USDT	+0.0100%	8h	2.5254	−0.008%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5276	+0.080%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0304%	1h	2.5326	+0.277%	$12.8M	$6.2M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0593%	1h	2.5324	+0.271%	$120K	$299K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+0.333%	$141K	$458K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0771%	1h	2.5319	+0.249%	$334K	$492K	15x	as long as short