Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0617%/8h= −67.6% APRpaid last 24h −0.047%

Price spread now: Deribit against MEXC0.000%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on Deribit

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$19 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PENDLE_USDT	2.5096	−0.0009	get 0.0009% / 8h	57m 02s	$16.9M	$1.9M	125x
Short	Deribit PENDLE_USDC-PERPETUAL	2.5096	−0.0626	pay 0.0078% / 1h	57m 02s	$30K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$129.55
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$140.55
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 7 min ago; Deribit: 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, 7 min ago	1.60 bp	7.7 bp −$8	29.6 bp −$296	73.9 bp −$7,395	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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	−0.5000%	1h	2.4740	−1.419%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUALshort	−0.0626%	1h	2.5096	0.000%	$30K	$10K	10x
ApeX Omni PENDLEUSDT	−0.0049%	1h	2.5046	−0.199%	$76K	$239K	50x	as long as short
MEXC PENDLE_USDTlong	−0.0009%	8h	2.5096	long leg	$16.9M	$1.9M	125x
Binance PENDLEUSDT	−0.0009%	8h	2.5096	−0.002%	$27.1M	$41.5M	75x	as long as short
Extended PENDLE-USD	−0.0008%	1h	2.5086	−0.038%	$165K	$526K	10x	as long as short
BloFin PENDLE-USDT	−0.0007%	8h	2.5102	+0.024%	$1.3M	$755K	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5106	+0.041%	$11K	—	5x	as long as short
Orderly PERP_PENDLE_USDC	+0.0010%	8h	2.5103	+0.028%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0043%	1h	2.5116	+0.079%	$4K	—	15x	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	+0.0061%	8h	2.4982	−0.456%	$552K	$2.0M	—	as long as short
GRVT PENDLE_USDT_Perp	+0.0065%	8h	2.5031	−0.259%	$416K	$1.6M	10x	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.5111	+0.061%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5104	+0.032%	$529K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5108	+0.049%	$35K	$18K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5143	+0.187%	$12.4M	$6.1M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5096	0.000%	$44K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5070	−0.104%	$15.4M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5100	+0.016%	$3.3M	$6.0M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5100	+0.016%	$783K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5111	+0.060%	$893K	$597K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5089	−0.028%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5102	+0.024%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5027	−0.275%	$25K	$395K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5141	+0.179%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5108	+0.048%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5118	+0.088%	$5K	—	100x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0597%	1h	2.5149	+0.210%	$119K	$304K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5140	+0.175%	$140K	$457K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.1271%	1h	2.5141	+0.179%	$324K	$493K	15x	as long as short