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% APRpaid last 24h 0.000%

Price spread now: SunX against OKX+0.080%7-day average +0.071% · you sell dearer than you buy

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

Long on OKX Short on SunX

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)−0.083%−$8 · spread now +0.080%, 7d avg +0.071%

Together, before fees−0.059%−$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PENDLE-USDT-SWAP	2.5020	0.0100	pay 0.0050% / 4h	1h 43m	$3.2M	$5.8M	50x
Short	SunX PENDLE-USDT	2.5040	0.0100	get 0.0100% / 8h	1h 43m	$2K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.080%Rate

Funding earned: $0
Price spread: +0.080% → +0.071%: $0.94
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$17.06
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 5 min ago; SunX: live order book, 12 min ago. 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, 5 min ago	3.99 bp	17.4 bp −$17	100.8 bp −$1,008	doesn't fit	doesn't fit
Sell SunX live order book, 12 min ago	500.17 bp	doesn't fit	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	−0.3656%	1h	2.4770	−0.999%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0787%	1h	2.5036	+0.064%	$29K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5018	−0.007%	$11K	—	5x	as long as short
ApeX Omni PENDLEUSDT	+0.0019%	1h	2.4955	−0.260%	$76K	$240K	50x	as long as short
MEXC PENDLE_USDT	+0.0028%	8h	2.5015	−0.020%	$16.9M	$2.1M	125x	as long as short
Orderly PERP_PENDLE_USDC	+0.0028%	8h	2.5022	+0.008%	$20K	$16K	10x	as long as short
BloFin PENDLE-USDT	+0.0029%	8h	2.5013	−0.028%	$1.3M	$731K	75x	as long as short
Binance PENDLEUSDT	+0.0029%	8h	2.5015	−0.020%	$27.2M	$40.1M	75x	as long as short
Extended PENDLE-USD	+0.0032%	1h	2.5009	−0.045%	$164K	$526K	10x	as long as short
Reya PENDLERUSDPERP	+0.0039%	1h	2.5031	+0.044%	$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	+0.0064%	8h	2.5033	+0.051%	$603K	$2.0M	—	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5007	−0.052%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5026	+0.024%	$525K	$422K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4986	−0.137%	$35K	$20K	10x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5006	−0.057%	$42K	$175K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5002	−0.072%	$15.4M	$11.8M	50x	as long as short
OKX PENDLE-USDT-SWAPlong	+0.0100%	4h	2.5020	long leg	$3.2M	$5.8M	50x
Gate PENDLE_USDT	+0.0100%	8h	2.5020	0.000%	$788K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5030	+0.040%	$892K	$624K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5010	−0.040%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5027	+0.028%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4938	−0.327%	$25K	$413K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.4964	−0.222%	$412K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5052	+0.128%	$16K	$19K	5x	as long as short
SunX PENDLE-USDTshort	+0.0100%	8h	2.5040	+0.080%	$2K	$1.7M	20x
Hyperliquid PENDLE	+0.0107%	1h	2.5071	+0.204%	$12.3M	$5.9M	5x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5039	+0.076%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5050	+0.120%	$139K	$461K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0751%	1h	2.5067	+0.189%	$146K	$276K	20x	as long as short
Backpack PENDLE_USDC_PERP	+0.0797%	1h	2.5072	+0.208%	$356K	$461K	15x	as long as short