Settings8H · net · $10k
Funding arb · Price arb /

PENDLE

all PENDLE markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.011%
Price spread now: Hyperliquid against SunX+0.083%7-day average +0.086% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
What this pair did over the last
the charts below follow
Funding, last 7 days+0.014%+$1 on $10k
Price spread, last 3 days (all we have)−0.028%−$3 · spread now +0.083%, 7d avg +0.086%
Together, before fees−0.015%+ Points / potential airdropHyperliquid: Season 2 · farm board−$1 on $10k · with fees, hour by hour
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongSunX PENDLE-USDT2.52060.0100pay 0.0100% / 8h2h 41m$2K$1.7M20x
ShortHyperliquid PENDLE2.52270.0100get 0.0013% / 1h41m 58s$12.4M$5.6M5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid 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

Funding earned
$0
Price spread: +0.083% → +0.086%
−$0.23
Slippage, 4 orders
no order book: not counted
Fee SunX: 4 bp × 2 orders
−$8
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$17.23
Costs to cover
0.170%
Break-even
never at this rate
Slippage unknown: SunX: live order book, 3 min ago; Hyperliquid: live order book, 11 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy SunX live order book, 3 min ago499.49 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit
Sell Hyperliquid live order book, 11 min ago0.20 bp12.0 bp −$12doesn't fitdoesn't fitdoesn't fit

PENDLE on 30 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective PENDLE/USDC PERP−0.4806%1h2.4860−1.373%$2K$7K5.5xas long as short
Kraken Futures PF_PENDLEUSD−0.0429%1h2.5251+0.179%$150K$280K20xas long as short
Deribit PENDLE_USDC-PERPETUAL−0.0107%1h2.5205−0.004%$30K$10K10xas long as short
dYdX PENDLE-USD0.0000%1h2.5214+0.033%$11K5xas long as short
Variational Omni PENDLE+0.0015%8h2.5150−0.222%$608K$2.3Mas long as short
Reya PENDLERUSDPERP+0.0034%1h2.5191−0.059%$4K15xas long as short
Orderly PERP_PENDLE_USDC+0.0036%8h2.5193−0.052%$23K$8K10xas long as short
MEXC PENDLE_USDT+0.0039%8h2.5193−0.052%$16.9M$2.2M125xas long as short
Extended PENDLE-USD+0.0040%1h2.5184−0.086%$165K$524K10xas long as short
Binance PENDLEUSDT+0.0042%8h2.5191−0.060%$27.5M$39.1M75xas long as short
Show all 30 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BloFin PENDLE-USDT+0.0064%8h2.5193−0.052%$1.3M$769K75xas long as short
Aevo PENDLE-PERP+0.0088%1h2.5191−0.060%$26K3xas long as short
Lighter PENDLE+0.0096%1h2.5201−0.020%$552K$376K5xas long as short
Aster PENDLEUSDT+0.0100%8h2.5205−0.004%$41K$177K10xas long as short
Paradex PENDLE-USD-PERP+0.0100%8h2.5191−0.058%$35K$22K10xas long as short
Hyperliquid PENDLEshort+0.0100%1h2.5227+0.083%$12.4M$5.6M5x
Bybit PENDLEUSDT+0.0100%8h2.5180−0.103%$15.6M$12.2M50xas long as short
OKX PENDLE-USDT-SWAP+0.0100%4h2.5210+0.016%$3.3M$5.7M50xas long as short
Gate PENDLE_USDT+0.0100%8h2.5190−0.063%$847K$1.1M75xas long as short
KuCoin PENDLEUSDTM+0.0100%8h2.5202−0.016%$913K$609K50xas long as short
Bitget PENDLEUSDT+0.0100%8h2.5178−0.111%$3.7M$2.6M75xas long as short
BingX PENDLE-USDT+0.0100%8h2.5204−0.008%$36.3Mas long as short
edgeX PENDLEUSDC+0.0100%4h2.5181−0.099%$25K$414K10xas long as short
GRVT PENDLE_USDT_Perp+0.0100%8h2.5123−0.331%$422K$1.6M10xas long as short
ApeX Omni PENDLEUSDT+0.0100%1h2.5196−0.040%$77K$239K50xas long as short
Polymarket Perps PENDLE-USD+0.0100%1h2.5210+0.016%$16K$19K5xas long as short
SunX PENDLE-USDTlong+0.0100%8h2.5206long leg$2K$1.7M20x
GMX PENDLE/USD [PENDLE-USDC]L +0.0200% / S −0.0277%1h2.5203−0.012%$5K100xas long as short
Coinbase International PENDLE-PERP-INTX+0.0560%1h2.5270+0.254%$118K$439K25xas long as short
Backpack PENDLE_USDC_PERP+0.0874%1h2.5250+0.175%$366K$467K15xas long as short