Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0022%/8h= +2.4% APRpaid last 24h +0.006%

Price spread now: Polymarket Perps against GRVT+0.304%7-day average — · you sell dearer than you buy

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

Long on GRVT Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.085%−$8 on $10k

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

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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Polymarket Perps is 0.304% dearer against GRVT than usual: you sell high and buy low: +$30 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 −0.085%, 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	GRVT PENDLE_USDT_Perp	2.4230	0.0078	pay 0.0078% / 8h	14m 41s	$405K	$2.5M	10x
Short	Polymarket Perps PENDLE-USD	2.4304	0.0100	get 0.0013% / 1h	14m 41s	$16K	$4K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against GRVT. 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 GRVTbpFee Polymarket PerpsbpOrdersPrice spread, now +0.304%Rate

Funding earned: $4.62
Price spread: +0.304% → 0.000%: $30.45
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $18.07
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: GRVT: live order book, 4 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 GRVT live order book, 4 min ago	1.86 bp	14.4 bp −$14	27.5 bp −$275	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	−0.4810%	1h	2.3940	−1.198%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0285%	1h	2.4277	+0.193%	$25K	$16K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0014%	8h	2.4268	+0.156%	$18K	$15K	10x	as long as short
BloFin PENDLE-USDT	−0.0006%	8h	2.4262	+0.131%	$1.1M	$502K	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4306	+0.311%	$10K	—	5x	as long as short
Extended PENDLE-USD	+0.0008%	1h	2.4273	+0.175%	$158K	$927K	10x	as long as short
MEXC PENDLE_USDT	+0.0009%	8h	2.4283	+0.218%	$18.0M	$2.1M	125x	as long as short
Binance PENDLEUSDT	+0.0012%	8h	2.4283	+0.218%	$25.5M	$46.2M	75x	as long as short
GRVT PENDLE_USDT_Perplong	+0.0078%	8h	2.4230	long leg	$405K	$2.5M	10x
Aevo PENDLE-PERP	+0.0080%	1h	2.4265	+0.142%	$25K	—	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENDLE_USDT	+0.0082%	8h	2.4270	+0.164%	$760K	$1.1M	75x	as long as short
Reya PENDLERUSDPERP	+0.0085%	1h	2.4275	+0.185%	$3K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4288	+0.238%	$523K	$432K	5x	as long as short
ApeX Omni PENDLEUSDT	+0.0097%	1h	2.4241	+0.044%	$74K	$232K	50x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4281	+0.209%	$34K	$5K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4320	+0.371%	$12.7M	$6.1M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4274	+0.182%	$47K	$171K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4270	+0.164%	$14.1M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4300	+0.288%	$3.1M	$6.7M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4278	+0.197%	$721K	$617K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4296	+0.271%	$3.8M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4278	+0.197%	—	$8.2M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4266	+0.149%	$565K	$1.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4263	+0.136%	$24K	$370K	10x	as long as short
Polymarket Perps PENDLE-USDshort	+0.0100%	1h	2.4304	+0.304%	$16K	$4K	5x
SunX PENDLE-USDT	+0.0100%	8h	2.4301	+0.292%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4282	+0.213%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0628%	1h	2.4323	+0.383%	$351K	$435K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0672%	1h	2.4320	+0.371%	$157K	$509K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1525%	1h	2.4313	+0.340%	$115K	$262K	20x	as long as short