Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0164%/8h= −18.0% APRpaid last 24h −0.005%

Price spread now: Extended against SunX−0.062%7-day average −0.101% · you buy dearer than you sell

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

Long on SunX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.066%−$7 on $10k

Price spread, last 3 days (all we have)−0.016%−$2 · spread now −0.062%, 7d avg −0.101%

Together, before fees−0.082%+ Points / potential airdropExtended: Active · farm board−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.039% dearer against SunX than usual: you sell high and buy low (spread −0.062% now, against its 7-day average of −0.101%): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 19 hours. At the pace of the last 7 days (−0.066% in total) that is about 4.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PENDLE-USDT	2.5120	0.0100	pay 0.0100% / 8h	10m 43s	$2K	$1.8M	20x
Short	Extended PENDLE-USD	2.5104	−0.0064	pay 0.0008% / 1h	10m 43s	$165K	$528K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.062%Rate

Funding earned: −$34.44
Price spread: −0.062% → −0.101%: $3.92
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$43.52
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 5 min ago; Extended: live order book, 2 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, 5 min ago	500.22 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 2 min ago	1.19 bp	14.9 bp −$15	93.7 bp −$937	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	−0.717%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0625%	1h	2.5116	−0.016%	$28K	$11K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0066%	1h	2.5150	+0.119%	$77K	$239K	50x	as long as short
Binance PENDLEUSDT	−0.0066%	8h	2.5133	+0.052%	$27.2M	$42.1M	75x	as long as short
Extended PENDLE-USDshort	−0.0064%	1h	2.5104	−0.062%	$165K	$528K	10x
MEXC PENDLE_USDT	−0.0063%	8h	2.5121	+0.004%	$17.0M	$1.9M	125x	as long as short
BloFin PENDLE-USDT	−0.0047%	8h	2.5102	−0.072%	$1.3M	$707K	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0008%	8h	2.5110	−0.040%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5173	+0.210%	$11K	—	5x	as long as short
GRVT PENDLE_USDT_Perp	+0.0016%	8h	2.5140	+0.080%	$416K	$1.6M	10x	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	+0.0022%	8h	2.5081	−0.154%	$596K	$1.9M	—	as long as short
Reya PENDLERUSDPERP	+0.0046%	1h	2.5108	−0.050%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.5101	−0.076%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5119	−0.004%	$529K	$416K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5130	+0.040%	$35K	$18K	10x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5142	+0.086%	$47K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5120	0.000%	$15.5M	$12.0M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5120	0.000%	$3.2M	$6.0M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5100	−0.080%	$780K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5115	−0.020%	$882K	$600K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5107	−0.052%	$3.7M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5137	+0.068%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5152	+0.129%	$25K	$380K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5135	+0.060%	$16K	$20K	5x	as long as short
SunX PENDLE-USDTlong	+0.0100%	8h	2.5120	long leg	$2K	$1.8M	20x
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5116	−0.017%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0337%	1h	2.5184	+0.255%	$12.8M	$6.2M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0597%	1h	2.5161	+0.165%	$119K	$298K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+0.876%	$141K	$450K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0669%	1h	2.5152	+0.127%	$330K	$489K	15x	as long as short