Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: edgeX against OKX−0.075%7-day average +0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$470.470% of the position

Long on OKX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.024%+$2 on $10k

Price spread, last 3 days (all we have)+0.589%+$59 · spread now −0.075%, 7d avg +0.041%

Together, before fees+0.613%+ Points / potential airdropedgeX: Active · farm board+$61 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: edgeX is 0.116% cheaper against OKX than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PENDLE-USDT-SWAP	2.5190	0.0100	pay 0.0050% / 4h	2h 45m	$3.3M	$5.6M	50x
Short	edgeX PENDLEUSDC	2.5171	0.0100	get 0.0050% / 4h	2h 45m	$25K	$413K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against OKX. 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 OKXbpFee edgeXbpOrdersPrice spread, now −0.075%Rate

Funding earned: $0
Price spread: −0.075% → +0.041%: −$11.61
Slippage, 4 orders: −$27.96
Fee OKX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$58.57
Costs to cover: 0.470%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; edgeX: live order book, 43 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 OKX live order book, 3 min ago	3.97 bp	14.2 bp −$14	129.2 bp −$1,292	doesn't fit	doesn't fit
Sell edgeX live order book, 43 min ago	1.96 bp	7.4 bp −$7	doesn't fit	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	−0.4806%	1h	2.4860	−1.310%	$2K	$7K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0429%	1h	2.5243	+0.209%	$150K	$279K	20x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0067%	1h	2.5193	+0.012%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5210	+0.079%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0015%	8h	2.5150	−0.158%	$608K	$2.3M	—	as long as short
BloFin PENDLE-USDT	+0.0023%	8h	2.5153	−0.147%	$1.3M	$768K	75x	as long as short
Reya PENDLERUSDPERP	+0.0034%	1h	2.5185	−0.021%	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.0035%	8h	2.5192	+0.008%	$23K	$8K	10x	as long as short
Extended PENDLE-USD	+0.0040%	1h	2.5171	−0.074%	$165K	$524K	10x	as long as short
MEXC PENDLE_USDT	+0.0040%	8h	2.5188	−0.008%	$16.9M	$2.2M	125x	as long as short

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	−0.021%	$27.5M	$39.0M	75x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5197	+0.027%	$26K	—	3x	as long as short
Aster PENDLEUSDT	+0.0092%	8h	2.5206	+0.063%	$41K	$177K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0096%	1h	2.5178	−0.048%	$77K	$239K	50x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5195	+0.020%	$552K	$376K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5185	−0.021%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5218	+0.111%	$12.4M	$5.6M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5177	−0.052%	$15.6M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAPlong	+0.0100%	4h	2.5190	long leg	$3.3M	$5.6M	50x
Gate PENDLE_USDT	+0.0100%	8h	2.5180	−0.040%	$848K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5198	+0.032%	$909K	$608K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5161	−0.115%	$3.7M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5181	−0.036%	—	$36.4M	—	as long as short
edgeX PENDLEUSDCshort	+0.0100%	4h	2.5171	−0.075%	$25K	$413K	10x
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5162	−0.112%	$415K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5218	+0.111%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5195	+0.020%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5194	+0.016%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5240	+0.198%	$118K	$438K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0896%	1h	2.5240	+0.198%	$365K	$466K	15x	as long as short