Funding arb · Price arb / Crypto
PENDLE
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| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 1.7377 | +0.0100 | pay 0.0013% / 1h | 2m 37s | $25K | $227K | 25x | Long TxFlow5% off | |
| SHORT | 1.7449 | −0.0369 | pay 0.0369% / 8h | 2m 37s | $10.0M | $5.7M | 50x | Short Bybit |
Price gap+0.414%
Funding gap−0.0469% /8h
The gap pays +$31 on $10k if it goes back to its 7d average, but funding costs $14 a day and eats that in about 2.2 days. At the last 7 days' pace that is about 24 days.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$9−0.0469% /8h now · paid −0.090% over the last 7D
Price+$31spread +0.414% now, avg +0.106% → +0.308% if it goes back
Costs−$630.625% of $10k · taker + slippage, in and out
Result−$41−0.41%+ Points / potential airdropTxFlow: points · farm boardWhat the last 7D really paid, hour by hour → backtest
The current funding rate is far below what this pair has been paying: over the last 7 days it paid −0.090% in total, about −0.0043%/8h on average.
Price and funding
1h · historyEntry / Exit
Price spread
Prices
Fundingper 8h
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now+0.414%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hPENDLE on 31 exchanges
lowest funding firstBefore you open
2 ok · 4 to watch- Watch: Thin at this size13.2 / 19.7 bpAt $10k entering Bybit costs 19.7 bp, fee and slippage, 1.5× TxFlow’s.
- Note: Margin at max leverage$400 + $200TxFlow 25x, Bybit 50x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ1h / 8hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: −$14.07Long TxFlow: 24 payments, −$3.00; short Bybit: 3 payments, −$11.07.
- OK: Entry gap works for you+0.414% vs +0.106%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Long leg is thinner$25K vs $10.0M OITxFlow sets your exit cost. Check its book before closing.
- OK: Points on a legTxFlow pointsVolume here counts toward the points program.
- Watch: KYCTxFlow No · Bybit YesStandard verification is mandatory for every product.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0043%/8h × 21 periods−$8.98
Price spread+0.414% → +0.106% (7d avg)+$30.82
Slippage, 4 orderslive order books−$42.51
Fee TxFlow bp × 2 orders−$9.00
Fee Bybit bp × 2 orders−$11.00
Net · 7 days · $10k−$40.67
Costs to cover0.625%Break-evennever at this rate
Slippage: TxFlow: live order book, 27 min ago; Bybit: live order book, 4 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGTxFlow0.2813.2 bp−$1370.8 bp−$708doesn’t fitdoesn’t fit
SELL · SHORTBybit2.5919.7 bp−$2050.8 bp−$508doesn’t fitdoesn’t fit
Closing costs about the same again.
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