Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.006%

Price spread now: ApeX Omni against SunX−0.365%73s7-day average +0.022% · you buy dearer than you sell

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

Long on SunX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.146%−$15 on $10k

Price spread, last 3 days (all we have)+0.047%+$5 · spread now −0.365%, 7d avg +0.022%

Together, before fees−0.098%−$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.387% cheaper against SunX than usual: you would sell low and buy high, −$39 on $10k if it goes back to its 7-day average of +0.022%. The two prices were read 73 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	SunX PENDLE-USDT	2.5192	0.0100	pay 0.0100% / 8h	2h 52m	$2K	$1.7M	20x
Short	ApeX Omni PENDLEUSDT	2.5100	0.0100	get 0.0013% / 1h	52m 11s	$77K	$239K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against SunX. 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 SunXbpFee ApeX OmnibpOrdersPrice spread, now −0.365%Rate

Funding earned: $0
Price spread: −0.365% → +0.022%: −$38.71
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$56.71
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 3 min ago; ApeX Omni: live order book, 34 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 SunX live order book, 3 min ago	500.21 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 34 min ago	4.71 bp	12.2 bp −$12	91.4 bp −$914	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	−0.4806%	1h	2.4860	−1.318%	$2K	$7K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0430%	1h	2.5180	−0.046%	$158K	$259K	20x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0107%	1h	2.5181	−0.044%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5190	−0.009%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0010%	8h	2.5125	−0.266%	$607K	$2.3M	—	as long as short
Reya PENDLERUSDPERP	+0.0034%	1h	2.5170	−0.086%	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.0035%	8h	2.5177	−0.060%	$23K	$8K	10x	as long as short
Binance PENDLEUSDT	+0.0037%	8h	2.5169	−0.092%	$27.5M	$38.9M	75x	as long as short
MEXC PENDLE_USDT	+0.0037%	8h	2.5174	−0.071%	$16.9M	$2.2M	125x	as long as short
Extended PENDLE-USD	+0.0040%	1h	2.5162	−0.118%	$165K	$524K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin PENDLE-USDT	+0.0041%	8h	2.5191	−0.004%	$1.3M	$799K	75x	as long as short
Aster PENDLEUSDT	+0.0078%	8h	2.5181	−0.044%	$41K	$177K	10x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5177	−0.058%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5173	−0.075%	$551K	$376K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5165	−0.105%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5201	+0.036%	$12.4M	$5.5M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5153	−0.155%	$15.6M	$12.3M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5170	−0.087%	$3.2M	$5.6M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5170	−0.087%	$847K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5185	−0.028%	$908K	$607K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5190	−0.008%	$3.8M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5172	−0.079%	—	$36.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5194	+0.008%	$25K	$411K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5218	+0.103%	$416K	$1.6M	10x	as long as short
ApeX Omni PENDLEUSDTshort	+0.0100%	1h	2.5100	−0.365%	$77K	$239K	50x
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5192	0.000%	$16K	$19K	5x	as long as short
SunX PENDLE-USDTlong	+0.0100%	8h	2.5192	long leg	$2K	$1.7M	20x
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5183	−0.037%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5270	+0.310%	$118K	$440K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0823%	1h	2.5227	+0.139%	$365K	$466K	15x	as long as short