Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.003%

Price spread now: Aevo against MEXC−0.029%7-day average — · you buy dearer than you sell

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

Long on MEXC Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. Aevo is 0.029% cheaper against MEXC than usual: you would sell low and buy high (spread −0.029% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 47 hours of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PENDLE_USDT	2.5187	0.0038	pay 0.0038% / 8h	2h 46m	$16.9M	$2.2M	125x
Short	Aevo PENDLE-PERP	2.5180	0.0088	get 0.0011% / 1h	46m 16s	$26K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against MEXC. 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 MEXCbpFee AevobpOrdersPrice spread, now −0.029%Rate

Funding earned: $10.5
Price spread: −0.029% → 0.000%: −$2.94
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$12.44
Costs to cover: 0.200%
Break-even: 15.3 days

Slippage unknown: MEXC: live order book, 2 min ago; Aevo: 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 MEXC live order book, 2 min ago	0.20 bp	6.0 bp −$6	29.4 bp −$294	87.7 bp −$8,772	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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	−0.4806%	1h	2.4860	−1.298%	$2K	$7K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0429%	1h	2.5231	+0.177%	$150K	$279K	20x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0028%	1h	2.5190	+0.012%	$30K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0001%	1h	2.5150	−0.147%	$77K	$239K	50x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5210	+0.091%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0011%	8h	2.5135	−0.206%	$608K	$2.3M	—	as long as short
BloFin PENDLE-USDT	+0.0023%	8h	2.5153	−0.135%	$1.3M	$768K	75x	as long as short
Reya PENDLERUSDPERP	+0.0034%	1h	2.5189	+0.008%	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.0036%	8h	2.5192	+0.020%	$23K	$8K	10x	as long as short
MEXC PENDLE_USDTlong	+0.0038%	8h	2.5187	long leg	$16.9M	$2.2M	125x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended PENDLE-USD	+0.0040%	1h	2.5169	−0.073%	$165K	$524K	10x	as long as short
Binance PENDLEUSDT	+0.0040%	8h	2.5184	−0.012%	$27.5M	$38.9M	75x	as long as short
Aevo PENDLE-PERPshort	+0.0088%	1h	2.5180	−0.029%	$26K	—	3x
Aster PENDLEUSDT	+0.0090%	8h	2.5190	+0.010%	$41K	$177K	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5184	−0.012%	$552K	$376K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5156	−0.124%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5225	+0.151%	$12.4M	$5.6M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5168	−0.075%	$15.6M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5200	+0.052%	$3.3M	$5.6M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5190	+0.012%	$848K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5187	0.000%	$908K	$608K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5190	+0.012%	$3.8M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5176	−0.044%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5184	−0.012%	$25K	$413K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5182	−0.021%	$416K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5202	+0.060%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5170	−0.067%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5195	+0.034%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5220	+0.131%	$118K	$437K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0909%	1h	2.5219	+0.127%	$365K	$466K	15x	as long as short