Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.013%

Price spread now: Aster against SunX+0.059%56s7-day average −0.001% · you sell dearer than you buy

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

Long on SunX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.046%−$5 on $10k

Price spread, last 3 days (all we have)−0.090%−$9 · spread now +0.059%, 7d avg −0.001%

Together, before fees−0.136%+ Points / potential airdropAster: Stage 5 · farm board−$14 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: Aster is 0.060% dearer against SunX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.001%. The two prices were read 56 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	2.5219	0.0100	pay 0.0100% / 8h	37m 26s	$2K	$1.8M	20x
Short	Aster PENDLEUSDT	2.5234	0.0100	get 0.0100% / 8h	37m 26s	$46K	$177K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now +0.059%Rate

Funding earned: $0
Price spread: +0.059% → −0.001%: $5.97
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Aster: 4 bp × 2 orders: −$8
Net: −$10.03
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 8 min ago; Aster: live order book, 39 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, 8 min ago	500.18 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 39 min ago	8.44 bp	100.5 bp −$101	doesn't fit	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	−0.5000%	1h	2.4940	−1.106%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0344%	1h	2.5219	0.000%	$30K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0123%	1h	2.5202	−0.067%	$77K	$239K	50x	as long as short
BloFin PENDLE-USDT	−0.0026%	8h	2.5192	−0.107%	$1.3M	$762K	75x	as long as short
Extended PENDLE-USD	−0.0024%	1h	2.5185	−0.136%	$166K	$528K	10x	as long as short
Binance PENDLEUSDT	−0.0023%	8h	2.5211	−0.032%	$27.3M	$41.9M	75x	as long as short
MEXC PENDLE_USDT	−0.0021%	8h	2.5199	−0.079%	$17.1M	$1.9M	125x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5218	−0.003%	$11K	—	5x	as long as short
Orderly PERP_PENDLE_USDC	+0.0002%	8h	2.5217	−0.008%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0044%	1h	2.5217	−0.008%	$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	+0.0045%	8h	2.5177	−0.167%	$590K	$1.9M	—	as long as short
GRVT PENDLE_USDT_Perp	+0.0054%	8h	2.5216	−0.014%	$418K	$1.6M	10x	as long as short
Aevo PENDLE-PERP	+0.0072%	1h	2.5211	−0.032%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5213	−0.024%	$531K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5191	−0.113%	$35K	$18K	10x	as long as short
Aster PENDLEUSDTshort	+0.0100%	8h	2.5234	+0.059%	$46K	$177K	10x
Bybit PENDLEUSDT	+0.0100%	8h	2.5210	−0.036%	$15.5M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5200	−0.075%	$3.2M	$6.0M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5200	−0.075%	$783K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5237	+0.071%	$894K	$597K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5191	−0.111%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5214	−0.020%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5196	−0.090%	$25K	$396K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5246	+0.107%	$16K	$20K	5x	as long as short
SunX PENDLE-USDTlong	+0.0100%	8h	2.5219	long leg	$2K	$1.8M	20x
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5227	+0.034%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0203%	1h	2.5267	+0.192%	$12.7M	$6.1M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0594%	1h	2.5256	+0.148%	$120K	$299K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+0.480%	$141K	$458K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0888%	1h	2.5258	+0.155%	$329K	$491K	15x	as long as short