Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.5% APRpaid last 24h −0.006%

Price spread now: ApeX Omni against edgeX+0.027%7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$380.384% of the position

Long on edgeX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.146%−$15 on $10k

Price spread, last 3 days (all we have)−0.061%−$6 · spread now +0.027%, 7d avg +0.069%

Together, before fees−0.206%+ Points / potential airdropedgeX: Active · farm board−$21 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 0.041% cheaper against edgeX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX PENDLEUSDC	2.5171	0.0100	pay 0.0050% / 4h	2h 45m	$25K	$413K	10x
Short	ApeX Omni PENDLEUSDT	2.5178	0.0096	get 0.0012% / 1h	45m 06s	$77K	$239K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now +0.027%Rate

Funding earned: −$0.94
Price spread: +0.027% → +0.069%: −$4.13
Slippage, 4 orders: −$19.44
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$43.51
Costs to cover: 0.384%
Break-even: never at this rate

Slippage from edgeX: live order book, 43 min ago; ApeX Omni: live order book, 41 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 edgeX live order book, 43 min ago	1.96 bp	7.2 bp −$7	15.3 bp −$153	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 41 min ago	4.71 bp	12.2 bp −$12	91.4 bp −$914	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	−0.4806%	1h	2.4860	−1.236%	$2K	$7K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0429%	1h	2.5243	+0.284%	$150K	$279K	20x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0067%	1h	2.5193	+0.087%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5210	+0.154%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0015%	8h	2.5150	−0.084%	$608K	$2.3M	—	as long as short
Reya PENDLERUSDPERP	+0.0034%	1h	2.5185	+0.054%	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.0035%	8h	2.5192	+0.083%	$23K	$8K	10x	as long as short
Extended PENDLE-USD	+0.0040%	1h	2.5171	+0.001%	$165K	$524K	10x	as long as short
MEXC PENDLE_USDT	+0.0040%	8h	2.5132	−0.156%	$16.9M	$2.2M	125x	as long as short
Binance PENDLEUSDT	+0.0040%	8h	2.5156	−0.060%	$27.4M	$39.0M	75x	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	+0.0061%	8h	2.5150	−0.084%	$1.3M	$768K	75x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5197	+0.102%	$26K	—	3x	as long as short
Aster PENDLEUSDT	+0.0092%	8h	2.5204	+0.130%	$41K	$177K	10x	as long as short
ApeX Omni PENDLEUSDTshort	+0.0096%	1h	2.5178	+0.027%	$77K	$239K	50x
Lighter PENDLE	+0.0096%	1h	2.5161	−0.040%	$551K	$376K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5185	+0.054%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5162	−0.036%	$12.4M	$5.6M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5140	−0.124%	$15.6M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5130	−0.163%	$3.3M	$5.6M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5180	+0.035%	$848K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5187	+0.063%	$908K	$608K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5101	−0.279%	$3.7M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5138	−0.132%	—	$36.4M	—	as long as short
edgeX PENDLEUSDClong	+0.0100%	4h	2.5171	long leg	$25K	$413K	10x
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5162	−0.037%	$415K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5218	+0.186%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5195	+0.095%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5194	+0.091%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5240	+0.274%	$118K	$438K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0913%	1h	2.5191	+0.079%	$365K	$466K	15x	as long as short