Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0655%/8h= +71.7% APRpaid last 24h +0.345%

Price spread now: Kraken Futures against Paradex+0.095%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Kraken Futures

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

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Kraken Futures is 0.095% dearer against Paradex than usual: you sell high and buy low: +$9 more if the spread 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	Paradex PENDLE-USD-PERP	2.4927	0.0100	pay 0.0100% / 8h	1h 34m	$35K	$20K	10x
Short	Kraken Futures PF_PENDLEUSD	2.4951	0.0755	get 0.0094% / 1h	34m 16s	$136K	$289K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Paradex. 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 ParadexbpFee Kraken FuturesbpOrdersPrice spread, now +0.095%Rate

Funding earned: $137.54
Price spread: +0.095% → 0.000%: $9.46
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $133
Costs to cover: 0.140%
Break-even: 0.2 days

Slippage unknown: Paradex: no order-book sample; Kraken Futures: live order book, 48 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 Paradex no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 48 min ago	15.82 bp	45.8 bp −$46	doesn't fit	doesn't fit	doesn't fit

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	−0.3656%	1h	2.4770	−0.632%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0511%	1h	2.4939	+0.046%	$29K	$10K	10x	as long as short
BloFin PENDLE-USDT	−0.0009%	8h	2.4925	−0.010%	$1.3M	$739K	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4951	+0.096%	$10K	—	5x	as long as short
Binance PENDLEUSDT	+0.0015%	8h	2.4925	−0.010%	$27.0M	$40.3M	75x	as long as short
Extended PENDLE-USD	+0.0016%	1h	2.4925	−0.011%	$164K	$526K	10x	as long as short
MEXC PENDLE_USDT	+0.0018%	8h	2.4925	−0.010%	$16.8M	$2.1M	125x	as long as short
Orderly PERP_PENDLE_USDC	+0.0024%	8h	2.4931	+0.014%	$20K	$16K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0029%	1h	2.5044	+0.468%	$76K	$240K	50x	as long as short
Reya PENDLERUSDPERP	+0.0040%	1h	2.4912	−0.061%	$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	+0.0057%	8h	2.4947	+0.079%	$552K	$2.0M	—	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.4924	−0.016%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4939	+0.046%	$524K	$422K	5x	as long as short
Paradex PENDLE-USD-PERPlong	+0.0100%	8h	2.4927	long leg	$35K	$20K	10x
Hyperliquid PENDLE	+0.0100%	1h	2.4963	+0.143%	$12.3M	$5.8M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4936	+0.034%	$42K	$173K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4917	−0.042%	$15.3M	$11.8M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4940	+0.050%	$3.2M	$5.8M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4900	−0.110%	$782K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4925	−0.010%	$889K	$612K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4914	−0.054%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4921	−0.026%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4978	+0.203%	$25K	$411K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.4990	+0.251%	$421K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4944	+0.066%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4949	+0.087%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.4947	+0.079%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5010	+0.331%	$139K	$462K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0705%	1h	2.4966	+0.155%	$359K	$468K	15x	as long as short
Kraken Futures PF_PENDLEUSDshort	+0.0755%	1h	2.4951	+0.095%	$136K	$289K	20x