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 +0.037%

Price spread now: Paradex against Bybit+0.049%7-day average — · you sell dearer than you buy

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

Long on Bybit 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 0.049% dearer against Bybit than usual: you sell high and buy low, +$5 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	Bybit PENDLEUSDT	2.5141	0.0100	pay 0.0100% / 8h	2h 35m	$15.6M	$12.2M	50x
Short	Paradex PENDLE-USD-PERP	2.5153	0.0100	get 0.0100% / 8h	2h 35m	$35K	$22K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Bybit. 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 BybitbpFee ParadexbpOrdersPrice spread, now +0.049%Rate

Funding earned: $0
Price spread: +0.049% → 0.000%: $4.87
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$10.13
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Bybit: 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 Bybit live order book, 3 min ago	3.98 bp	21.5 bp −$22	50.6 bp −$506	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	−0.4806%	1h	2.4860	−1.118%	$2K	$7K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0430%	1h	2.5202	+0.244%	$150K	$279K	20x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0068%	1h	2.5147	+0.024%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5179	+0.153%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0019%	8h	2.5180	+0.156%	$609K	$2.3M	—	as long as short
Reya PENDLERUSDPERP	+0.0035%	1h	2.5174	+0.132%	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.0035%	8h	2.5154	+0.052%	$25K	$8K	10x	as long as short
MEXC PENDLE_USDT	+0.0044%	8h	2.5156	+0.060%	$16.9M	$2.2M	125x	as long as short
Binance PENDLEUSDT	+0.0044%	8h	2.5171	+0.119%	$27.4M	$39.1M	75x	as long as short
Extended PENDLE-USD	+0.0048%	1h	2.5157	+0.064%	$165K	$524K	10x	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	+0.0056%	8h	2.5193	+0.207%	$1.3M	$744K	75x	as long as short
ApeX Omni PENDLEUSDT	+0.0083%	1h	2.5192	+0.203%	$77K	$240K	50x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5148	+0.026%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5158	+0.068%	$544K	$385K	5x	as long as short
Paradex PENDLE-USD-PERPshort	+0.0100%	8h	2.5153	+0.049%	$35K	$22K	10x
Hyperliquid PENDLE	+0.0100%	1h	2.5176	+0.139%	$12.4M	$5.6M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5165	+0.096%	$41K	$177K	10x	as long as short
Bybit PENDLEUSDTlong	+0.0100%	8h	2.5141	long leg	$15.6M	$12.2M	50x
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5180	+0.155%	$3.3M	$5.7M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5160	+0.076%	$846K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5165	+0.095%	$912K	$609K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5147	+0.024%	$3.7M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5168	+0.107%	—	$36.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5153	+0.046%	$25K	$412K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5182	+0.161%	$416K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5192	+0.203%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5154	+0.052%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5154	+0.052%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5220	+0.314%	$117K	$431K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0834%	1h	2.5208	+0.266%	$365K	$465K	15x	as long as short