Funding arb · Price arb / Crypto
PENDLE
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| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 1.9503 | +0.0100 | pay 0.0100% / 8h | 3h 58m | $1.1M | $764K | 20x | Long Phemex | |
| SHORT | 1.9482 | +0.0040 | get 0.0005% / 1h | 58m 03s | $86K | $605K | 10x | Short Extended10% off |
Price gap−0.109%
Funding gap−0.0060% /8h
The gap pays +$6 on $10k if it goes back to its 7d average, but funding costs $2 a day and eats that in about 3.1 days.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$15−0.0060% /8h now · paid −0.155% over the last 7D
Price+$6spread −0.109% now, avg −0.164% → +0.056% if it goes back
Costs−$880.884% of $10k · taker + slippage, in and out
Result−$98−0.98%+ Points / potential airdropExtended: points · farm boardWhat the last 7D really paid, hour by hour → backtest
Price and funding
1h · historyEntry / Exit
Price spread
Prices
Fundingper 8h
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now−0.109%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hPENDLE on 31 exchanges
lowest funding firstBefore you open
2 ok · 4 to watch- Watch: Thin at this size33.8 / 13.4 bpAt $10k entering Phemex costs 33.8 bp, fee and slippage, 2.5× Extended’s.
- Note: Margin at max leverage$500 + $1,000Phemex 20x, Extended 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ8h / 1hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: −$1.80Long Phemex: 3 payments, −$3.00; short Extended: 24 payments, +$1.20.
- OK: Entry gap works for you−0.109% vs −0.164%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Short leg is thinner$86K vs $1.1M OIExtended sets your exit cost. Check its book before closing.
- OK: Points on a legExtended pointsVolume here counts toward the points program.
- Watch: KYCPhemex Yes · Extended NoKYC unlocks spot and futures trading; an unverified account cannot withdraw at all.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0074%/8h × 21 periods−$15.45
Price spread−0.109% → −0.164% (7d avg)+$5.57
Slippage, 4 orderslive order books−$71.36
Fee Phemex bp × 2 orders−$12.00
Fee Extended bp × 2 orders−$5.00
Net · 7 days · $10k−$98.24
Costs to cover0.884%Break-evennever at this rate
Slippage: Phemex: live order book, 2 min ago; Extended: live order book, 59 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhemex1.0233.8 bp−$34154.2 bp−$1,542doesn’t fitdoesn’t fit
SELL · SHORTExtended1.0313.4 bp−$1392.1 bp−$921doesn’t fitdoesn’t fit
Closing costs about the same again.
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| 09-24 09:36 | Phemex | Listing | new market PENDLEUSDT ($PENDLE) seen by our collector |