Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.009%

Price spread now: Paradex against Gate+0.070%45s7-day average — · you sell dearer than you buy

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

Long on Gate Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.070% dearer against Gate than usual: you sell high and buy low, +$7 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 45 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	Gate PENDLE_USDT	2.5190	0.0100	pay 0.0100% / 8h	31m 47s	$783K	$1.2M	75x
Short	Paradex PENDLE-USD-PERP	2.5208	0.0100	get 0.0100% / 8h	31m 47s	$35K	$18K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.070%Rate

Funding earned: $0
Price spread: +0.070% → 0.000%: $6.99
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$12.01
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Gate: live order book, just now; Paradex: 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 Gate live order book, just now	3.97 bp	20.2 bp −$20	188.4 bp −$1,884	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	−0.5000%	1h	2.4940	−0.992%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0384%	1h	2.5225	+0.139%	$30K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0079%	1h	2.5215	+0.099%	$77K	$239K	50x	as long as short
BloFin PENDLE-USDT	−0.0037%	8h	2.5249	+0.234%	$1.3M	$754K	75x	as long as short
Extended PENDLE-USD	−0.0032%	1h	2.5184	−0.023%	$166K	$528K	10x	as long as short
Binance PENDLEUSDT	−0.0029%	8h	2.5187	−0.012%	$27.2M	$41.9M	75x	as long as short
MEXC PENDLE_USDT	−0.0028%	8h	2.5203	+0.052%	$17.1M	$1.9M	125x	as long as short
Orderly PERP_PENDLE_USDC	−0.0001%	8h	2.5216	+0.103%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5242	+0.205%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0043%	8h	2.5187	−0.011%	$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	2.5225	+0.138%	$4K	—	15x	as long as short
GRVT PENDLE_USDT_Perp	+0.0050%	8h	2.5225	+0.138%	$418K	$1.6M	10x	as long as short
Aevo PENDLE-PERP	+0.0072%	1h	2.5240	+0.197%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5215	+0.099%	$531K	$415K	5x	as long as short
Paradex PENDLE-USD-PERPshort	+0.0100%	8h	2.5208	+0.070%	$35K	$18K	10x
Aster PENDLEUSDT	+0.0100%	8h	2.5227	+0.148%	$46K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5180	−0.040%	$15.5M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5190	0.000%	$3.2M	$6.1M	50x	as long as short
Gate PENDLE_USDTlong	+0.0100%	8h	2.5190	long leg	$783K	$1.2M	75x
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5228	+0.151%	$893K	$600K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5205	+0.060%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5194	+0.016%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5204	+0.054%	$25K	$396K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5262	+0.286%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5212	+0.087%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5236	+0.181%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0245%	1h	2.5250	+0.237%	$12.7M	$6.1M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0594%	1h	2.5266	+0.304%	$120K	$299K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+0.595%	$141K	$458K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0805%	1h	2.5261	+0.282%	$330K	$491K	15x	as long as short