Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Paradex against OKX+0.033%7-day average — · you sell dearer than you buy

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

Long on OKX Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.033% dearer against OKX than usual: you sell high and buy low, +$3 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PENDLE-USDT-SWAP	2.4800	0.0100	pay 0.0050% / 4h	1h 40m	$3.1M	$6.1M	50x
Short	Paradex PENDLE-USD-PERP	2.4808	0.0100	get 0.0100% / 8h	5h 40m	$35K	$15K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.033%Rate

Funding earned: $0
Price spread: +0.033% → 0.000%: $3.31
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$10.69
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 3 min ago; Paradex: 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 OKX live order book, 3 min ago	2.01 bp	13.3 bp −$13	82.0 bp −$820	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	−0.4938%	1h	2.4490	−1.250%	$2K	$54K	5.5x	as long as short
BloFin PENDLE-USDT	−0.0121%	8h	2.4784	−0.065%	$1.3M	$644K	75x	as long as short
Extended PENDLE-USD	−0.0120%	1h	2.4799	−0.005%	$163K	$568K	10x	as long as short
MEXC PENDLE_USDT	−0.0117%	8h	2.4810	+0.040%	$17.1M	$1.8M	125x	as long as short
Binance PENDLEUSDT	−0.0116%	8h	2.4814	+0.055%	$26.7M	$43.2M	75x	as long as short
Aster PENDLEUSDT	−0.0056%	8h	2.4820	+0.082%	$47K	$175K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0038%	8h	2.4821	+0.085%	$19K	$15K	10x	as long as short
GRVT PENDLE_USDT_Perp	−0.0034%	8h	2.4875	+0.302%	$417K	$1.7M	10x	as long as short
Variational Omni PENDLE	−0.0009%	8h	2.4780	−0.080%	$546K	$1.8M	—	as long as short
Gate PENDLE_USDT	−0.0006%	8h	2.4800	0.000%	$721K	$1.1M	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENDLE-USD	0.0000%	1h	2.4803	+0.011%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4820	+0.081%	$25K	$14K	10x	as long as short
Aevo PENDLE-PERP	+0.0048%	1h	2.4817	+0.069%	$26K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0059%	1h	2.4813	+0.050%	$4K	—	15x	as long as short
ApeX Omni PENDLEUSDT	+0.0073%	1h	2.4866	+0.266%	$76K	$235K	50x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4814	+0.056%	$530K	$418K	5x	as long as short
Paradex PENDLE-USD-PERPshort	+0.0100%	8h	2.4808	+0.033%	$35K	$15K	10x
Hyperliquid PENDLE	+0.0100%	1h	2.4850	+0.202%	$12.6M	$6.0M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4808	+0.032%	$14.9M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAPlong	+0.0100%	4h	2.4800	long leg	$3.1M	$6.1M	50x
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4812	+0.048%	$848K	$577K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4822	+0.089%	$3.7M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4810	+0.040%	—	$33.6M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4852	+0.211%	$25K	$377K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4836	+0.145%	$16K	$8K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4825	+0.101%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0192% / S −0.0316%	1h	2.4817	+0.070%	$7K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0488%	1h	2.4858	+0.234%	$352K	$483K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0552%	1h	2.4840	+0.161%	$149K	$491K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0754%	1h	2.4863	+0.253%	$116K	$283K	20x	as long as short