Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h −0.001%

Price spread now: Polymarket Perps against MEXC+0.119%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 Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.084%−$8 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Polymarket Perps is 0.119% dearer against MEXC than usual: you sell high and buy low: +$12 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.084%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PENDLE_USDT	2.5188	0.0040	pay 0.0040% / 8h	2h 45m	$16.9M	$2.2M	125x
Short	Polymarket Perps PENDLE-USD	2.5218	0.0100	get 0.0013% / 1h	45m 19s	$16K	$19K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.119%Rate

Funding earned: $12.6
Price spread: +0.119% → 0.000%: $11.91
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $12.51
Costs to cover: 0.120%
Break-even: 0.0 days

Slippage unknown: MEXC: live order book, 3 min ago; Polymarket Perps: 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, 3 min ago	0.20 bp	6.0 bp −$6	29.4 bp −$294	87.7 bp −$8,772	doesn't fit
Sell Polymarket Perps no order-book sample	—	—	—	—	—

Polymarket Perps: 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	−1.302%	$2K	$7K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0429%	1h	2.5243	+0.217%	$150K	$279K	20x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0067%	1h	2.5193	+0.020%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5210	+0.087%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0015%	8h	2.5150	−0.150%	$608K	$2.3M	—	as long as short
BloFin PENDLE-USDT	+0.0023%	8h	2.5153	−0.139%	$1.3M	$768K	75x	as long as short
Reya PENDLERUSDPERP	+0.0034%	1h	2.5185	−0.013%	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.0035%	8h	2.5192	+0.016%	$23K	$8K	10x	as long as short
Extended PENDLE-USD	+0.0040%	1h	2.5171	−0.066%	$165K	$524K	10x	as long as short
MEXC PENDLE_USDTlong	+0.0040%	8h	2.5188	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
Binance PENDLEUSDT	+0.0040%	8h	2.5185	−0.013%	$27.5M	$39.0M	75x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5197	+0.035%	$26K	—	3x	as long as short
Aster PENDLEUSDT	+0.0092%	8h	2.5206	+0.071%	$41K	$177K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0096%	1h	2.5178	−0.040%	$77K	$239K	50x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5195	+0.028%	$552K	$376K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5185	−0.013%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5218	+0.119%	$12.4M	$5.6M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5177	−0.044%	$15.6M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5190	+0.008%	$3.3M	$5.6M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5180	−0.032%	$848K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5198	+0.040%	$909K	$608K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5161	−0.107%	$3.7M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5181	−0.028%	—	$36.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5171	−0.067%	$25K	$413K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5162	−0.104%	$415K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USDshort	+0.0100%	1h	2.5218	+0.119%	$16K	$19K	5x
SunX PENDLE-USDT	+0.0100%	8h	2.5195	+0.028%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5194	+0.024%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5240	+0.206%	$118K	$438K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0896%	1h	2.5240	+0.206%	$365K	$466K	15x	as long as short