Funding arb · Price arb /

PENDLE

all PENDLE markets

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 0.000%

Price spread now: BingX against SunX−0.250%55s7-day average −0.044% · you buy dearer than you sell

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

Long on SunX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.037%−$4 on $10k

Price spread, last 3 days (all we have)+0.350%+$35 · spread now −0.250%, 7d avg −0.044%

Together, before fees+0.312%+$31 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: BingX is 0.206% cheaper against SunX than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of −0.044%. The two prices were read 55 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	2.5161	0.0100	pay 0.0100% / 8h	1h 56m	$2K	$1.7M	20x
Short	BingX PENDLE-USDT	2.5098	0.0100	get 0.0100% / 8h	1h 56m	—	$36.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.250%Rate

Funding earned: $0
Price spread: −0.250% → −0.044%: −$20.63
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$38.63
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 9 min ago; BingX: live order book, 12 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, 9 min ago	255.15 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 12 min ago	3.19 bp	11.7 bp −$12	20.0 bp −$200	87.4 bp −$8,736	322.4 bp −$161.2K

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	−1.554%	$2K	$53K	5.5x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5119	−0.167%	$11K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.5163	+0.008%	$30K	$10K	10x	as long as short
Orderly PERP_PENDLE_USDC	+0.0032%	8h	2.5108	−0.211%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0038%	1h	2.5109	−0.206%	$4K	—	15x	as long as short
Extended PENDLE-USD	+0.0040%	1h	2.5112	−0.195%	$165K	$524K	10x	as long as short
MEXC PENDLE_USDT	+0.0043%	8h	2.5110	−0.203%	$16.9M	$2.1M	125x	as long as short
Binance PENDLEUSDT	+0.0043%	8h	2.5108	−0.211%	$27.2M	$39.6M	75x	as long as short
Variational Omni PENDLE	+0.0053%	8h	2.5054	−0.426%	$615K	$2.1M	—	as long as short
BloFin PENDLE-USDT	+0.0068%	8h	2.5140	−0.083%	$1.3M	$732K	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni PENDLEUSDT	+0.0077%	1h	2.5038	−0.489%	$76K	$240K	50x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5101	−0.240%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5163	+0.008%	$528K	$421K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5109	−0.208%	$35K	$20K	10x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5117	−0.176%	$41K	$172K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5100	−0.242%	$15.5M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5120	−0.163%	$3.2M	$5.8M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5110	−0.203%	$857K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5120	−0.163%	$895K	$608K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5100	−0.242%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDTshort	+0.0100%	8h	2.5098	−0.250%	—	$36.3M	—
edgeX PENDLEUSDC	+0.0100%	4h	2.5048	−0.450%	$25K	$409K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5032	−0.514%	$422K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5127	−0.135%	$16K	$19K	5x	as long as short
SunX PENDLE-USDTlong	+0.0100%	8h	2.5161	long leg	$2K	$1.7M	20x
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5112	−0.194%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0255%	1h	2.5152	−0.036%	$12.4M	$5.7M	5x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5170	+0.036%	$117K	$416K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0747%	1h	2.5205	+0.176%	$150K	$274K	20x	as long as short
Backpack PENDLE_USDC_PERP	+0.1354%	1h	2.5206	+0.179%	$359K	$460K	15x	as long as short