Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0151%/8h= +16.5% APRpaid last 24h +0.017%

Price spread now: edgeX against MEXC+0.047%7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$250.249% of the position

Long on MEXC Short on edgeX

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)+0.387%+$39 · spread now +0.047%, 7d avg −0.015%

Together, before fees+0.472%+ Points / potential airdropedgeX: Active · farm board+$47 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and edgeX is 0.062% dearer against MEXC than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PENDLE_USDT	2.4697	−0.0051	get 0.0051% / 8h	4h 01m	$17.4M	$2.0M	125x
Short	edgeX PENDLEUSDC	2.4709	0.0100	get 0.0050% / 4h	1m 04s	$24K	$378K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.047%Rate

Funding earned: $31.71
Price spread: +0.047% → −0.015%: $6.25
Slippage, 4 orders: −$11.87
Fee MEXC: 2 bp × 2 orders: −$4
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $13.09
Costs to cover: 0.249%
Break-even: 4.1 days

Slippage from MEXC: live order book, 3 min ago; edgeX: live order book, 57 min ago.

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, 3 min ago	1.21 bp	5.0 bp −$5	28.4 bp −$284	96.6 bp −$9,660	doesn't fit
Sell edgeX live order book, 57 min ago	2.03 bp	7.1 bp −$7	52.9 bp −$529	doesn't fit	doesn't fit

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	−0.4334%	1h	2.4350	−1.405%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0236%	1h	2.4704	+0.028%	$25K	$14K	10x	as long as short
BloFin PENDLE-USDT	−0.0060%	8h	2.4684	−0.053%	$1.2M	$593K	75x	as long as short
MEXC PENDLE_USDTlong	−0.0051%	8h	2.4697	long leg	$17.4M	$2.0M	125x
Binance PENDLEUSDT	−0.0048%	8h	2.4694	−0.012%	$26.2M	$43.6M	75x	as long as short
Extended PENDLE-USD	−0.0048%	1h	2.4675	−0.089%	$159K	$578K	10x	as long as short
Aster PENDLEUSDT	−0.0042%	8h	2.4729	+0.130%	$47K	$179K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0039%	8h	2.4692	−0.020%	$19K	$15K	10x	as long as short
Gate PENDLE_USDT	−0.0034%	8h	2.4720	+0.093%	$720K	$1.1M	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4750	+0.216%	$10K	—	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PENDLE-PERP	+0.0064%	1h	2.4677	−0.080%	$26K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0067%	1h	2.4709	+0.051%	$3K	—	15x	as long as short
Variational Omni PENDLE	+0.0074%	8h	2.4726	+0.116%	$555K	$1.4M	—	as long as short
GRVT PENDLE_USDT_Perp	+0.0077%	8h	2.4709	+0.049%	$417K	$1.9M	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4710	+0.053%	$518K	$429K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4752	+0.224%	$35K	$13K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4695	−0.008%	$14.6M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4710	+0.053%	$3.1M	$6.3M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4742	+0.182%	$870K	$556K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4710	+0.053%	$3.7M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4734	+0.150%	—	$8.5M	—	as long as short
edgeX PENDLEUSDCshort	+0.0100%	4h	2.4709	+0.047%	$24K	$378K	10x
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4730	+0.134%	$75K	$235K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4754	+0.231%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4789	+0.373%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4718	+0.083%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0339%	1h	2.4746	+0.198%	$12.8M	$6.0M	5x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0608%	1h	2.4740	+0.174%	$147K	$497K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0688%	1h	2.4756	+0.239%	$360K	$421K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1175%	1h	2.4750	+0.217%	$115K	$268K	20x	as long as short