Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against SunX−0.008%7-day average −0.024% · you buy dearer than you sell

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

Long on SunX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.048%+$5 · spread now −0.008%, 7d avg −0.024%

Together, before fees+0.048%+$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PENDLE-USDT	2.4403	0.0100	pay 0.0100% / 8h	2h 38m	$2K	$1.8M	20x
Short	KuCoin PENDLEUSDTM	2.4401	0.0100	get 0.0100% / 8h	2h 38m	$859K	$553K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.008%Rate

Funding earned: $0
Price spread: −0.008% → −0.024%: $1.53
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$18.47
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 8 min ago; KuCoin: live order book, 56 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	500.27 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 56 min ago	6.50 bp	59.9 bp −$60	127.8 bp −$1,278	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	−0.3926%	1h	2.4240	−0.668%	$2K	$54K	5.5x	as long as short
Gate PENDLE_USDT	−0.0045%	8h	2.4390	−0.053%	$715K	$1.1M	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0035%	8h	2.4402	−0.004%	$19K	$15K	10x	as long as short
BloFin PENDLE-USDT	−0.0012%	8h	2.4366	−0.152%	$1.1M	$598K	75x	as long as short
Extended PENDLE-USD	−0.0008%	1h	2.4391	−0.049%	$157K	$581K	10x	as long as short
Binance PENDLEUSDT	−0.0005%	8h	2.4417	+0.057%	$25.8M	$44.3M	75x	as long as short
MEXC PENDLE_USDT	−0.0005%	8h	2.4394	−0.037%	$17.3M	$2.0M	125x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4376	−0.109%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4405	+0.008%	$24K	$15K	10x	as long as short
Reya PENDLERUSDPERP	+0.0073%	1h	2.4419	+0.064%	$3K	—	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PENDLE-PERP	+0.0080%	1h	2.4386	−0.068%	$25K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4410	+0.029%	$514K	$415K	5x	as long as short
GRVT PENDLE_USDT_Perp	+0.0097%	8h	2.4410	+0.031%	$407K	$2.1M	10x	as long as short
Aster PENDLEUSDT	+0.0099%	8h	2.4411	+0.032%	$46K	$171K	10x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4382	−0.086%	$34K	$9K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4449	+0.189%	$12.6M	$6.1M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4405	+0.008%	$14.3M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4420	+0.070%	$3.1M	$6.4M	50x	as long as short
KuCoin PENDLEUSDTMshort	+0.0100%	8h	2.4401	−0.008%	$859K	$553K	50x
Bitget PENDLEUSDT	+0.0100%	8h	2.4380	−0.094%	$3.6M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4391	−0.049%	—	$8.4M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4411	+0.033%	$548K	$1.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4457	+0.221%	$24K	$373K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4435	+0.131%	$74K	$233K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4444	+0.168%	$16K	$7K	5x	as long as short
SunX PENDLE-USDTlong	+0.0100%	8h	2.4403	long leg	$2K	$1.8M	20x
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4400	−0.012%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0574%	1h	2.4459	+0.229%	$355K	$402K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.4440	+0.152%	$153K	$519K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1192%	1h	2.4487	+0.344%	$115K	$263K	20x	as long as short