Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Paradex against KuCoin−0.088%7-day average — · you buy dearer than you sell

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

Long on KuCoin 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 0.088% cheaper against KuCoin than usual: you would sell low and buy high, −$9 on $10k if it 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	KuCoin PENDLEUSDTM	2.5338	0.0100	pay 0.0100% / 8h	7h 38m	$891K	$594K	50x
Short	Paradex PENDLE-USD-PERP	2.5316	0.0100	get 0.0100% / 8h	7h 38m	$35K	$18K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against KuCoin. 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 KuCoinbpFee ParadexbpOrdersPrice spread, now −0.088%Rate

Funding earned: $0
Price spread: −0.088% → 0.000%: −$8.78
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$24.78
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 16 min ago; 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 KuCoin live order book, 16 min ago	8.94 bp	59.3 bp −$59	doesn't fit	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	−0.4643%	1h	2.4970	−1.452%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0223%	1h	2.5342	+0.016%	$26K	$14K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0119%	1h	2.5269	−0.272%	$77K	$238K	50x	as long as short
BloFin PENDLE-USDT	−0.0080%	8h	2.5331	−0.028%	$1.3M	$707K	75x	as long as short
Extended PENDLE-USD	−0.0080%	1h	2.5309	−0.113%	$165K	$709K	10x	as long as short
Binance PENDLEUSDT	−0.0079%	8h	2.5339	+0.004%	$27.4M	$42.8M	75x	as long as short
MEXC PENDLE_USDT	−0.0078%	8h	2.5318	−0.079%	$17.1M	$1.9M	125x	as long as short
Gate PENDLE_USDT	−0.0045%	8h	2.5330	−0.032%	$782K	$1.2M	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0015%	8h	2.5356	+0.071%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5346	+0.032%	$11K	—	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT PENDLE_USDT_Perp	+0.0008%	8h	2.5291	−0.187%	$427K	$1.6M	10x	as long as short
Variational Omni PENDLE	+0.0013%	8h	2.5266	−0.284%	$610K	$1.9M	—	as long as short
Reya PENDLERUSDPERP	+0.0049%	1h	2.5342	+0.017%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.5349	+0.043%	$27K	—	3x	as long as short
Aster PENDLEUSDT	+0.0083%	8h	2.5319	−0.075%	$47K	$178K	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5319	−0.075%	$536K	$413K	5x	as long as short
Bybit PENDLEUSDT	+0.0097%	8h	2.5320	−0.071%	$15.6M	$12.1M	50x	as long as short
Paradex PENDLE-USD-PERPshort	+0.0100%	8h	2.5316	−0.088%	$35K	$18K	10x
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5330	−0.032%	$3.3M	$6.1M	50x	as long as short
KuCoin PENDLEUSDTMlong	+0.0100%	8h	2.5338	long leg	$891K	$594K	50x
Bitget PENDLEUSDT	+0.0100%	8h	2.5336	−0.008%	$3.8M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5307	−0.122%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5269	−0.273%	$25K	$380K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5360	+0.087%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5362	+0.095%	$2K	$1.8M	20x	as long as short
Hyperliquid PENDLE	+0.0199%	1h	2.5381	+0.169%	$12.9M	$6.3M	5x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0203% / S −0.0382%	1h	2.5362	+0.093%	$7K	—	100x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0613%	1h	2.5396	+0.228%	$118K	$294K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0728%	1h	2.5370	+0.126%	$141K	$442K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0884%	1h	2.5389	+0.201%	$334K	$487K	15x	as long as short