Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.009%

Price spread now: edgeX against Gate+0.161%7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$620.621% of the position

Long on Gate Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.057%+$6 on $10k

Price spread, last 3 days (all we have)+0.314%+$31 · spread now +0.161%, 7d avg +0.019%

Together, before fees+0.371%+ Points / potential airdropedgeX: Active · farm board+$37 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: edgeX is 0.141% dearer against Gate than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PENDLE_USDT	2.5170	0.0100	pay 0.0100% / 8h	2h 16m	$840K	$1.1M	75x
Short	edgeX PENDLEUSDC	2.5210	0.0100	get 0.0050% / 4h	2h 16m	$25K	$412K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Gate. 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 GatebpFee edgeXbpOrdersPrice spread, now +0.161%Rate

Funding earned: $0
Price spread: +0.161% → +0.019%: $14.13
Slippage, 4 orders: −$38.12
Fee Gate: 7.5 bp × 2 orders: −$15
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$47.99
Costs to cover: 0.621%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; edgeX: live order book, 7 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 Gate live order book, 5 min ago	3.96 bp	22.2 bp −$22	207.7 bp −$2,077	doesn't fit	doesn't fit
Sell edgeX live order book, 7 min ago	1.19 bp	6.1 bp −$6	62.8 bp −$628	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	2.5200	+0.119%	$2K	$53K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0428%	1h	2.5270	+0.398%	$150K	$279K	20x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0345%	1h	2.5208	+0.151%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5229	+0.236%	$11K	—	5x	as long as short
BloFin PENDLE-USDT	+0.0020%	8h	2.5190	+0.079%	$1.3M	$741K	75x	as long as short
Orderly PERP_PENDLE_USDC	+0.0034%	8h	2.5208	+0.151%	$25K	$11K	10x	as long as short
Reya PENDLERUSDPERP	+0.0036%	1h	2.5206	+0.143%	$4K	—	15x	as long as short
Binance PENDLEUSDT	+0.0046%	8h	2.5209	+0.155%	$27.4M	$39.3M	75x	as long as short
Extended PENDLE-USD	+0.0048%	1h	2.5199	+0.115%	$166K	$524K	10x	as long as short
MEXC PENDLE_USDT	+0.0048%	8h	2.5206	+0.143%	$17.0M	$2.3M	125x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PENDLE	+0.0053%	8h	2.5229	+0.233%	$621K	$2.3M	—	as long as short
Lighter PENDLE	+0.0096%	1h	2.5200	+0.119%	$547K	$396K	5x	as long as short
Aevo PENDLE-PERP	+0.0096%	1h	2.5198	+0.111%	$26K	—	3x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5193	+0.090%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5217	+0.187%	$12.3M	$5.6M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5177	+0.030%	$41K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5180	+0.040%	$15.6M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5210	+0.159%	$3.2M	$5.7M	50x	as long as short
Gate PENDLE_USDTlong	+0.0100%	8h	2.5170	long leg	$840K	$1.1M	75x
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5202	+0.127%	$916K	$610K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5206	+0.143%	$3.7M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5197	+0.107%	—	$36.3M	—	as long as short
edgeX PENDLEUSDCshort	+0.0100%	4h	2.5210	+0.161%	$25K	$412K	10x
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5216	+0.183%	$425K	$1.6M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.5236	+0.262%	$77K	$240K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5216	+0.183%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5214	+0.175%	$1K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5218	+0.189%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5360	+0.755%	$117K	$422K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0845%	1h	2.5239	+0.274%	$365K	$460K	15x	as long as short