Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.002%

Price spread now: Aevo against edgeX+0.211%48s7-day average — · you sell dearer than you buy

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

Long on edgeX Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

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

The price spread pays, funding is against you. Aevo is 0.211% dearer against edgeX than usual: you sell high and buy low (spread +0.211% now, against zero (this spread has no 7-day history yet)): +$21 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 14 days. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX PENDLEUSDC	2.4783	0.0100	pay 0.0050% / 4h	1h 43m	$24K	$380K	10x
Short	Aevo PENDLE-PERP	2.4835	0.0048	get 0.0006% / 1h	43m 34s	$26K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against edgeX. 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 edgeXbpFee AevobpOrdersPrice spread, now +0.211%Rate

Funding earned: −$10.92
Price spread: +0.211% → 0.000%: $21.09
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$14.83
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 20 min ago; Aevo: 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 edgeX live order book, 20 min ago	2.39 bp	7.2 bp −$7	14.7 bp −$147	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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	−0.4938%	1h	2.4490	−1.182%	$2K	$54K	5.5x	as long as short
Extended PENDLE-USD	−0.0128%	1h	2.4842	+0.240%	$163K	$568K	10x	as long as short
MEXC PENDLE_USDT	−0.0125%	8h	2.4856	+0.294%	$17.2M	$1.8M	125x	as long as short
Binance PENDLEUSDT	−0.0122%	8h	2.4852	+0.278%	$26.7M	$43.0M	75x	as long as short
BloFin PENDLE-USDT	−0.0104%	8h	2.4809	+0.105%	—	$645K	75x	as long as short
GRVT PENDLE_USDT_Perp	−0.0068%	8h	2.4733	−0.201%	$410K	$1.7M	10x	as long as short
Aster PENDLEUSDT	−0.0059%	8h	2.4851	+0.276%	$47K	$175K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0039%	8h	2.4843	+0.242%	$19K	$15K	10x	as long as short
Variational Omni PENDLE	−0.0019%	8h	2.4691	−0.373%	$544K	$1.8M	—	as long as short
ApeX Omni PENDLEUSDT	−0.0010%	1h	2.4790	+0.028%	$75K	$235K	50x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENDLE-USD	0.0000%	1h	2.4815	+0.130%	$10K	—	5x	as long as short
Gate PENDLE_USDT	0.0000%	8h	2.4840	+0.230%	$724K	$1.1M	75x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4851	+0.274%	$26K	$14K	10x	as long as short
Aevo PENDLE-PERPshort	+0.0048%	1h	2.4835	+0.211%	$26K	—	3x
Reya PENDLERUSDPERP	+0.0058%	1h	2.4855	+0.291%	$4K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4855	+0.290%	$529K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4850	+0.270%	$35K	$15K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4884	+0.407%	$12.7M	$6.0M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4840	+0.230%	$14.9M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4860	+0.311%	$3.1M	$6.1M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4838	+0.222%	$849K	$579K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4842	+0.238%	$3.7M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4853	+0.282%	—	$33.6M	—	as long as short
edgeX PENDLEUSDClong	+0.0100%	4h	2.4783	long leg	$24K	$380K	10x
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4866	+0.335%	$16K	$8K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4865	+0.331%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0190% / S −0.0313%	1h	2.4843	+0.243%	$7K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0379%	1h	2.4888	+0.423%	$353K	$483K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0552%	1h	2.4900	+0.472%	$149K	$491K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0753%	1h	2.4894	+0.447%	$116K	$283K	20x	as long as short