Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Polymarket Perps against Paradex+0.090%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 Polymarket Perps

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: Polymarket Perps is 0.090% dearer against Paradex than usual: you sell high and buy low, +$9 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	Paradex PENDLE-USD-PERP	2.5072	0.0100	pay 0.0100% / 8h	1h 53m	$35K	$20K	10x
Short	Polymarket Perps PENDLE-USD	2.5094	0.0100	get 0.0013% / 1h	53m 12s	$16K	$19K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.090%Rate

Funding earned: $0
Price spread: +0.090% → 0.000%: $8.95
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$3.05
Costs to cover: 0.120%
Break-even: 7828510.3 days

Slippage unknown: Paradex: no order-book sample; 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 Paradex no order-book sample	—	—	—	—	—
Sell Polymarket Perps no order-book sample	—	—	—	—	—

Paradex and 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	−0.3656%	1h	2.4770	−1.203%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0668%	1h	2.5045	−0.106%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5139	+0.268%	$11K	—	5x	as long as short
Orderly PERP_PENDLE_USDC	+0.0031%	8h	2.5051	−0.082%	$20K	$16K	10x	as long as short
BloFin PENDLE-USDT	+0.0036%	8h	2.5026	−0.182%	$1.3M	$728K	75x	as long as short
Reya PENDLERUSDPERP	+0.0038%	1h	2.5065	−0.027%	$4K	—	15x	as long as short
Binance PENDLEUSDT	+0.0045%	8h	2.5036	−0.141%	$27.2M	$39.6M	75x	as long as short
MEXC PENDLE_USDT	+0.0047%	8h	2.5036	−0.142%	$16.9M	$2.1M	125x	as long as short
Extended PENDLE-USD	+0.0048%	1h	2.5025	−0.187%	$165K	$524K	10x	as long as short
Variational Omni PENDLE	+0.0060%	8h	2.5103	+0.125%	$618K	$2.0M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PENDLE	+0.0096%	1h	2.5050	−0.086%	$525K	$421K	5x	as long as short
Aevo PENDLE-PERP	+0.0096%	1h	2.5058	−0.055%	$26K	—	3x	as long as short
Paradex PENDLE-USD-PERPlong	+0.0100%	8h	2.5072	long leg	$35K	$20K	10x
Aster PENDLEUSDT	+0.0100%	8h	2.5082	+0.042%	$41K	$172K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5040	−0.126%	$15.5M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5040	−0.126%	$3.2M	$5.7M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5110	+0.153%	$857K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5110	+0.153%	$896K	$605K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5062	−0.038%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5071	−0.002%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5144	+0.290%	$25K	$410K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5164	+0.368%	$424K	$1.6M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.5166	+0.377%	$77K	$240K	50x	as long as short
Polymarket Perps PENDLE-USDshort	+0.0100%	1h	2.5094	+0.090%	$16K	$19K	5x
SunX PENDLE-USDT	+0.0100%	8h	2.5040	−0.126%	$2K	$1.7M	20x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5082	+0.042%	$12.4M	$5.6M	5x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5062	−0.040%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5180	+0.433%	$117K	$417K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0752%	1h	2.5054	−0.069%	$149K	$274K	20x	as long as short
Backpack PENDLE_USDC_PERP	+0.0997%	1h	2.5091	+0.078%	$357K	$460K	15x	as long as short