Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.3756%/8h= +411.3% APRpaid last 24h +0.400%

Price spread now: Aster against Injective+1.157%7-day average — · you sell dearer than you buy

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

Long on Injective Short on Aster

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 airdropAster: Stage 5 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$113 a day on $10k at the current rate, and Aster is 1.157% dearer against Injective than usual: you sell high and buy low: +$116 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective PENDLE/USDC PERP	2.4770	−0.3656	get 0.0457% / 1h	39m 07s	$2K	$53K	5.5x
Short	Aster PENDLEUSDT	2.5057	0.0100	get 0.0100% / 8h	1h 39m	$42K	$175K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Injective. 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 InjectivebpFee AsterbpOrdersPrice spread, now +1.157%Rate

Funding earned: $788.76
Price spread: +1.157% → 0.000%: $115.73
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: $896.47
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Aster: live order book, 42 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 Injective no order-book sample	—	—	—	—	—
Sell Aster live order book, 42 min ago	11.09 bp	131.5 bp −$132	doesn't fit	doesn't fit	doesn't fit

Injective: 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 PERPlong	−0.3656%	1h	2.4770	long leg	$2K	$53K	5.5x
Deribit PENDLE_USDC-PERPETUAL	−0.0468%	1h	2.5044	+1.106%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5043	+1.104%	$11K	—	5x	as long as short
BloFin PENDLE-USDT	+0.0023%	8h	2.5012	+0.977%	$1.3M	$731K	75x	as long as short
Extended PENDLE-USD	+0.0024%	1h	2.5006	+0.953%	$164K	$526K	10x	as long as short
MEXC PENDLE_USDT	+0.0025%	8h	2.5030	+1.050%	$16.9M	$2.1M	125x	as long as short
Binance PENDLEUSDT	+0.0026%	8h	2.5033	+1.062%	$27.2M	$40.2M	75x	as long as short
Orderly PERP_PENDLE_USDC	+0.0026%	8h	2.5037	+1.078%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0039%	1h	2.5036	+1.073%	$4K	—	15x	as long as short
ApeX Omni PENDLEUSDT	+0.0060%	1h	2.5020	+1.009%	$76K	$240K	50x	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	+0.0065%	8h	2.5012	+0.977%	$553K	$2.0M	—	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5040	+1.091%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5037	+1.078%	$526K	$422K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5033	+1.062%	$35K	$20K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5067	+1.199%	$12.3M	$5.8M	5x	as long as short
Aster PENDLEUSDTshort	+0.0100%	8h	2.5057	+1.157%	$42K	$175K	10x
Bybit PENDLEUSDT	+0.0100%	8h	2.5030	+1.050%	$15.4M	$11.8M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5050	+1.130%	$3.2M	$5.8M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5040	+1.090%	$786K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5052	+1.138%	$894K	$623K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5028	+1.042%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5030	+1.050%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5004	+0.945%	$25K	$410K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.4989	+0.886%	$412K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5065	+1.191%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5053	+1.143%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5056	+1.154%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5040	+1.090%	$139K	$461K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0751%	1h	2.5068	+1.203%	$147K	$278K	20x	as long as short
Backpack PENDLE_USDC_PERP	+0.0763%	1h	2.5079	+1.247%	$356K	$461K	15x	as long as short