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 +0.005%

Price spread now: SunX against Extended+0.072%7-day average +0.101% · you sell dearer than you buy

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

Long on Extended Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.066%+$7 on $10k

Price spread, last 3 days (all we have)+0.006%+$1 · spread now +0.072%, 7d avg +0.101%

Together, before fees+0.072%+ Points / potential airdropExtended: Active · farm board+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.029% cheaper against Extended than usual: you would sell low and buy high (spread +0.072% now, against its 7-day average of +0.101%). If the spread goes back, that is −$3 on $10k: about 18 hours of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.066% in total) that is about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENDLE-USD	2.5179	−0.0032	get 0.0004% / 1h	30m 45s	$166K	$528K	10x
Short	SunX PENDLE-USDT	2.5197	0.0100	get 0.0100% / 8h	30m 45s	$2K	$1.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Extended. 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 ExtendedbpFee SunXbpOrdersPrice spread, now +0.072%Rate

Funding earned: $27.72
Price spread: +0.072% → +0.101%: −$2.89
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: $11.83
Costs to cover: 0.130%
Break-even: 4.0 days

Slippage unknown: Extended: live order book, 47 min ago; SunX: live order book, 5 min ago. 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 Extended live order book, 47 min ago	1.00 bp	14.0 bp −$14	106.1 bp −$1,061	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	500.17 bp	doesn't fit	doesn't fit	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	−0.5000%	1h	2.4940	−0.948%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0424%	1h	2.5213	+0.136%	$30K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0061%	1h	2.5232	+0.211%	$77K	$240K	50x	as long as short
Extended PENDLE-USDlong	−0.0032%	1h	2.5179	long leg	$166K	$528K	10x
Binance PENDLEUSDT	−0.0031%	8h	2.5192	+0.051%	$27.2M	$42.0M	75x	as long as short
MEXC PENDLE_USDT	−0.0029%	8h	2.5196	+0.068%	$17.1M	$1.9M	125x	as long as short
BloFin PENDLE-USDT	−0.0019%	8h	2.5189	+0.041%	$1.3M	$752K	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0002%	8h	2.5199	+0.080%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5217	+0.152%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0040%	8h	2.5182	+0.013%	$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
Reya PENDLERUSDPERP	+0.0045%	1h	2.5207	+0.114%	$4K	—	15x	as long as short
GRVT PENDLE_USDT_Perp	+0.0047%	8h	2.5223	+0.175%	$418K	$1.6M	10x	as long as short
Aevo PENDLE-PERP	+0.0072%	1h	2.5191	+0.051%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5197	+0.072%	$530K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5197	+0.071%	$35K	$18K	10x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5221	+0.169%	$46K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5174	−0.019%	$15.5M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5180	+0.005%	$3.2M	$6.1M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5190	+0.045%	$782K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5221	+0.168%	$893K	$600K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5179	+0.001%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5189	+0.041%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5230	+0.201%	$25K	$397K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5234	+0.219%	$16K	$20K	5x	as long as short
SunX PENDLE-USDTshort	+0.0100%	8h	2.5197	+0.072%	$2K	$1.8M	20x
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5232	+0.212%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0267%	1h	2.5255	+0.303%	$12.8M	$6.2M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0595%	1h	2.5242	+0.252%	$119K	$299K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+0.640%	$141K	$458K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0793%	1h	2.5242	+0.251%	$333K	$493K	15x	as long as short