Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0132%/8h= −14.5% APRpaid last 24h −0.003%

Price spread now: MEXC against edgeX+0.117%113s7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$200.198% of the position

Long on edgeX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 on $10k

Price spread, last 3 days (all we have)−0.379%−$38 · spread now +0.117%, 7d avg +0.020%

Together, before fees−0.449%+ Points / potential airdropedgeX: Active · farm board−$45 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.097% dearer against edgeX than usual: you sell high and buy low (spread +0.117% now, against its 7-day average of +0.020%): +$10 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.4 days. At the pace of the last 7 days (−0.069% in total) that is about 9.7 days. The two prices were read 113 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	2.5230	0.0100	pay 0.0050% / 4h	27m 41s	$25K	$397K	10x
Short	MEXC PENDLE_USDT	2.5259	−0.0032	pay 0.0032% / 8h	27m 41s	$17.1M	$1.9M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.117%Rate

Funding earned: −$27.72
Price spread: +0.117% → +0.020%: $9.67
Slippage, 4 orders: −$6.84
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$37.89
Costs to cover: 0.198%
Break-even: never at this rate

Slippage from edgeX: live order book, 51 min ago; MEXC: live order book, 1 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, 51 min ago	1.21 bp	6.2 bp −$6	37.7 bp −$377	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.20 bp	4.1 bp −$4	26.6 bp −$266	93.3 bp −$9,332	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	−0.5000%	1h	2.4940	−1.148%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0185%	1h	2.5283	+0.212%	$30K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0061%	1h	2.5232	+0.010%	$77K	$240K	50x	as long as short
BloFin PENDLE-USDT	−0.0046%	8h	2.5256	+0.105%	$1.3M	$754K	75x	as long as short
Binance PENDLEUSDT	−0.0032%	8h	2.5262	+0.130%	$27.3M	$42.1M	75x	as long as short
Extended PENDLE-USD	−0.0032%	1h	2.5269	+0.155%	$166K	$528K	10x	as long as short
MEXC PENDLE_USDTshort	−0.0032%	8h	2.5259	+0.117%	$17.1M	$1.9M	125x
Orderly PERP_PENDLE_USDC	−0.0003%	8h	2.5287	+0.228%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5268	+0.152%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0040%	8h	2.5182	−0.188%	$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	−0.165%	$417K	$1.6M	10x	as long as short
Reya PENDLERUSDPERP	+0.0045%	1h	2.5263	+0.133%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0072%	1h	2.5281	+0.204%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5264	+0.137%	$532K	$416K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5246	+0.064%	$35K	$18K	10x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5269	+0.157%	$46K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5231	+0.006%	$15.6M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5230	+0.002%	$3.2M	$6.0M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5260	+0.121%	$785K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5268	+0.153%	$895K	$605K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5236	+0.026%	$3.7M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5267	+0.149%	—	$35.7M	—	as long as short
edgeX PENDLEUSDClong	+0.0100%	4h	2.5230	long leg	$25K	$397K	10x
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5298	+0.271%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5269	+0.157%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5277	+0.189%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0314%	1h	2.5329	+0.394%	$12.8M	$6.2M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0592%	1h	2.5341	+0.442%	$120K	$299K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+0.438%	$141K	$458K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0790%	1h	2.5324	+0.375%	$334K	$492K	15x	as long as short