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% APRpaid last 24h +0.059%

Price spread now: edgeX against Variational Omni+0.073%7-day average +0.013% · you sell dearer than you buy

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

Long on Variational Omni Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.116%+$12 on $10k

Price spread, last 4 days (all we have)−0.030%−$3 · spread now +0.073%, 7d avg +0.013%

Together, before fees+0.086%+ Points / potential airdropVariational Omni: Active · edgeX: Active · farm board+$9 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: edgeX is 0.060% dearer against Variational Omni than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni PENDLE	2.4451	0.0100	pay 0.0100% / 8h	2h 43m	$549K	$1.4M	—
Short	edgeX PENDLEUSDC	2.4469	0.0100	get 0.0050% / 4h	2h 43m	$24K	$376K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Variational Omni. 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 Variational OmnibpFee edgeXbpOrdersPrice spread, now +0.073%Rate

Funding earned: $0
Price spread: +0.073% → +0.013%: $6.01
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$2.99
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; edgeX: live order book, 5 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 Variational Omni RFQ quote, 1 min ago	4.76 bp	doesn't fit	46.5 bp −$465	doesn't fit	doesn't fit
Sell edgeX live order book, 5 min ago	1.63 bp	6.3 bp −$6	65.9 bp −$659	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	−0.862%	$2K	$54K	5.5x	as long as short
Gate PENDLE_USDT	−0.0050%	8h	2.4470	+0.079%	$719K	$1.1M	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0036%	8h	2.4483	+0.132%	$19K	$15K	10x	as long as short
MEXC PENDLE_USDT	−0.0011%	8h	2.4462	+0.046%	$17.4M	$2.0M	125x	as long as short
Binance PENDLEUSDT	−0.0008%	8h	2.4455	+0.016%	$25.8M	$44.2M	75x	as long as short
Extended PENDLE-USD	−0.0008%	1h	2.4451	0.000%	$158K	$579K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4505	+0.222%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4487	+0.148%	$24K	$15K	10x	as long as short
BloFin PENDLE-USDT	+0.0004%	8h	2.4465	+0.058%	$1.1M	$600K	75x	as long as short
ApeX Omni PENDLEUSDT	+0.0068%	1h	2.4489	+0.157%	$74K	$233K	50x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya PENDLERUSDPERP	+0.0073%	1h	2.4457	+0.026%	$3K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.4476	+0.103%	$26K	—	3x	as long as short
Aster PENDLEUSDT	+0.0088%	8h	2.4467	+0.066%	$46K	$171K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0094%	8h	2.4470	+0.079%	$405K	$2.1M	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4475	+0.099%	$516K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4454	+0.015%	$34K	$9K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4500	+0.200%	$12.6M	$6.1M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4460	+0.038%	$14.3M	$12.0M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4470	+0.079%	$3.1M	$6.4M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4486	+0.144%	$862K	$555K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4457	+0.026%	$3.6M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4470	+0.079%	—	$8.4M	—	as long as short
Variational Omni PENDLElong	+0.0100%	8h	2.4451	long leg	$549K	$1.4M	—
edgeX PENDLEUSDCshort	+0.0100%	4h	2.4469	+0.073%	$24K	$376K	10x
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4482	+0.128%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4486	+0.144%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4457	+0.024%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0566%	1h	2.4527	+0.312%	$354K	$402K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.4530	+0.324%	$154K	$520K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1190%	1h	2.4527	+0.312%	$115K	$263K	20x	as long as short