Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0077%/8h= +8.4% APRpaid last 24h +0.005%

Price spread now: Polymarket Perps against Gate+0.152%7-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 Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.110%−$11 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Polymarket Perps is 0.152% dearer against Gate than usual: you sell high and buy low: +$15 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.110%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PENDLE_USDT	2.4950	0.0023	pay 0.0023% / 8h	5h 21m	$722K	$1.1M	75x
Short	Polymarket Perps PENDLE-USD	2.4988	0.0100	get 0.0013% / 1h	21m 04s	$16K	$8K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.152%Rate

Funding earned: $16.17
Price spread: +0.152% → 0.000%: $15.23
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $8.4
Costs to cover: 0.230%
Break-even: 3.4 days

Slippage unknown: Gate: live order book, 1 min ago; Polymarket Perps: 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, 1 min ago	4.02 bp	22.3 bp −$22	172.9 bp −$1,729	doesn't fit	doesn't fit
Sell Polymarket Perps no order-book sample	—	—	—	—	—

Polymarket Perps: 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	−0.4938%	1h	2.4520	−1.723%	$2K	$54K	5.5x	as long as short
BloFin PENDLE-USDT	−0.0102%	8h	2.4951	+0.004%	$1.3M	$650K	75x	as long as short
Extended PENDLE-USD	−0.0088%	1h	2.4932	−0.073%	$162K	$570K	10x	as long as short
Binance PENDLEUSDT	−0.0084%	8h	2.4950	0.000%	$26.7M	$43.5M	75x	as long as short
MEXC PENDLE_USDT	−0.0084%	8h	2.4942	−0.032%	$17.4M	$1.9M	125x	as long as short
Orderly PERP_PENDLE_USDC	−0.0035%	8h	2.4963	+0.052%	$19K	$15K	10x	as long as short
Aster PENDLEUSDT	−0.0030%	8h	2.4958	+0.032%	$47K	$177K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4933	−0.068%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4967	+0.068%	$26K	$14K	10x	as long as short
Variational Omni PENDLE	+0.0011%	8h	2.4945	−0.018%	$561K	$1.8M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENDLE_USDTlong	+0.0023%	8h	2.4950	long leg	$722K	$1.1M	75x
Aevo PENDLE-PERP	+0.0056%	1h	2.4951	+0.006%	$26K	—	3x	as long as short
GRVT PENDLE_USDT_Perp	+0.0059%	8h	2.4892	−0.232%	$416K	$1.8M	10x	as long as short
Reya PENDLERUSDPERP	+0.0060%	1h	2.4974	+0.095%	$4K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4955	+0.020%	$533K	$418K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4952	+0.007%	$35K	$15K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4989	+0.156%	$12.7M	$6.0M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4940	−0.040%	$14.9M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4960	+0.040%	$3.2M	$6.2M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4966	+0.064%	$852K	$573K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4954	+0.016%	$3.7M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4947	−0.012%	—	$33.6M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4819	−0.524%	$25K	$377K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4856	−0.377%	$76K	$235K	50x	as long as short
Polymarket Perps PENDLE-USDshort	+0.0100%	1h	2.4988	+0.152%	$16K	$8K	5x
SunX PENDLE-USDT	+0.0100%	8h	2.4964	+0.056%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0158% / S −0.0257%	1h	2.4967	+0.070%	$7K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0552%	1h	2.4990	+0.160%	$148K	$493K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0715%	1h	2.5002	+0.208%	$361K	$488K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0749%	1h	2.5017	+0.271%	$116K	$280K	20x	as long as short