Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: edgeX against Polymarket Perps+0.449%64s7-day average — · you sell dearer than you buy

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

Long on Polymarket Perps Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.154%+$15 on $10k

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

Together, before fees—+ Points / potential airdropedgeX: 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: edgeX is 0.449% dearer against Polymarket Perps than usual: you sell high and buy low, +$45 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 64 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps PENDLE-USD	2.5024	0.0100	pay 0.0013% / 1h	53m 50s	$16K	$20K	5x
Short	edgeX PENDLEUSDC	2.5136	0.0100	get 0.0050% / 4h	2h 53m	$25K	$380K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Polymarket Perps. 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 Polymarket PerpsbpFee edgeXbpOrdersPrice spread, now +0.449%Rate

Funding earned: $0
Price spread: +0.449% → 0.000%: $44.92
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $27.92
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Polymarket Perps: no order-book sample; edgeX: live order book, 15 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 Polymarket Perps no order-book sample	—	—	—	—	—
Sell edgeX live order book, 15 min ago	2.56 bp	7.4 bp −$7	doesn't fit	doesn't fit	doesn't fit

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	−0.4742%	1h	2.4850	−0.695%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.1028%	1h	2.5010	−0.056%	$26K	$14K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0934%	1h	2.5163	+0.555%	$77K	$237K	50x	as long as short
Bybit PENDLEUSDT	−0.0170%	8h	2.5061	+0.148%	$15.3M	$12.0M	50x	as long as short
GRVT PENDLE_USDT_Perp	−0.0147%	8h	2.5089	+0.260%	$420K	$1.6M	10x	as long as short
Binance PENDLEUSDT	−0.0114%	8h	2.5087	+0.252%	$27.1M	$43.1M	75x	as long as short
MEXC PENDLE_USDT	−0.0113%	8h	2.5086	+0.248%	$17.3M	$1.8M	125x	as long as short
Extended PENDLE-USD	−0.0112%	1h	2.5072	+0.190%	$163K	$565K	10x	as long as short
BloFin PENDLE-USDT	−0.0093%	8h	2.5041	+0.068%	$1.3M	$652K	75x	as long as short
Variational Omni PENDLE	−0.0035%	8h	2.5006	−0.071%	$596K	$1.8M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PENDLE_USDC	−0.0030%	8h	2.5016	−0.032%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5060	+0.144%	$11K	—	5x	as long as short
Aster PENDLEUSDT	+0.0007%	8h	2.5041	+0.069%	$50K	$180K	10x	as long as short
Gate PENDLE_USDT	+0.0014%	8h	2.5070	+0.184%	$784K	$1.2M	75x	as long as short
Reya PENDLERUSDPERP	+0.0053%	1h	2.5004	−0.080%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0056%	1h	2.5019	−0.020%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5069	+0.180%	$534K	$414K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4997	−0.106%	$35K	$16K	10x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5070	+0.184%	$3.2M	$6.1M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5056	+0.128%	$851K	$592K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5048	+0.096%	$3.8M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5070	+0.184%	—	$33.8M	—	as long as short
Backpack PENDLE_USDC_PERP	+0.0100%	1h	2.5105	+0.324%	$352K	$485K	15x	as long as short
edgeX PENDLEUSDCshort	+0.0100%	4h	2.5136	+0.449%	$25K	$380K	10x
Polymarket Perps PENDLE-USDlong	+0.0100%	1h	2.5024	long leg	$16K	$20K	5x
SunX PENDLE-USDT	+0.0100%	8h	2.5035	+0.044%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0158% / S −0.0256%	1h	2.5028	+0.016%	$7K	—	100x	as long as short
Hyperliquid PENDLE	+0.0242%	1h	2.5116	+0.368%	$12.9M	$6.4M	5x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0632%	1h	2.5030	+0.024%	$144K	$465K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0868%	1h	2.5098	+0.294%	$117K	$290K	20x	as long as short