Funding arb · Price arb /

PENDLE

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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 +0.059%

Price spread now: SunX against Variational Omni−0.127%7-day average +0.064% · you buy dearer than you sell

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

Long on Variational Omni Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.111%+$11 on $10k

Price spread, last 4 days (all we have)+0.174%+$17 · spread now −0.127%, 7d avg +0.064%

Together, before fees+0.285%+ Points / potential airdropVariational Omni: Active · farm board+$29 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: SunX is 0.191% cheaper against Variational Omni than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of +0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni PENDLE	2.4411	0.0100	pay 0.0100% / 8h	2h 39m	$548K	$1.4M	—
Short	SunX PENDLE-USDT	2.4380	0.0100	get 0.0100% / 8h	2h 39m	$1K	$1.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.127%Rate

Funding earned: $0
Price spread: −0.127% → +0.064%: −$19.08
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$27.08
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; SunX: live order book, 6 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, 5 min ago	4.76 bp	doesn't fit	46.5 bp −$465	doesn't fit	doesn't fit
Sell SunX live order book, 6 min ago	500.27 bp	doesn't fit	doesn't fit	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	−0.700%	$2K	$54K	5.5x	as long as short
Gate PENDLE_USDT	−0.0048%	8h	2.4350	−0.250%	$714K	$1.1M	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0035%	8h	2.4377	−0.139%	$19K	$15K	10x	as long as short
Extended PENDLE-USD	−0.0008%	1h	2.4370	−0.170%	$157K	$581K	10x	as long as short
MEXC PENDLE_USDT	−0.0006%	8h	2.4372	−0.160%	$17.3M	$2.0M	125x	as long as short
Binance PENDLEUSDT	−0.0005%	8h	2.4378	−0.137%	$25.7M	$44.3M	75x	as long as short
BloFin PENDLE-USDT	−0.0003%	8h	2.4420	+0.037%	$1.1M	$599K	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4376	−0.142%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4391	−0.082%	$24K	$15K	10x	as long as short
Reya PENDLERUSDPERP	+0.0073%	1h	2.4374	−0.153%	$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	2.4366	−0.182%	$25K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4390	−0.086%	$514K	$415K	5x	as long as short
Aster PENDLEUSDT	+0.0097%	8h	2.4377	−0.138%	$46K	$171K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0097%	8h	2.4410	−0.002%	$407K	$2.1M	10x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4356	−0.224%	$34K	$9K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4408	−0.012%	$12.6M	$6.1M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4377	−0.139%	$14.2M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4400	−0.045%	$3.1M	$6.4M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4374	−0.151%	$858K	$552K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4352	−0.242%	$3.6M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4383	−0.115%	—	$8.4M	—	as long as short
Variational Omni PENDLElong	+0.0100%	8h	2.4411	long leg	$548K	$1.4M	—
edgeX PENDLEUSDC	+0.0100%	4h	2.4457	+0.188%	$24K	$373K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4435	+0.098%	$74K	$233K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4398	−0.053%	$16K	$7K	5x	as long as short
SunX PENDLE-USDTshort	+0.0100%	8h	2.4380	−0.127%	$1K	$1.8M	20x
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4378	−0.136%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0523%	1h	2.4437	+0.107%	$352K	$402K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.4400	−0.045%	$153K	$518K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1194%	1h	2.4437	+0.109%	$114K	$263K	20x	as long as short