Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.004%

Price spread now: BloFin against Aevo+0.010%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENDLE-PERP	2.5217	0.0072	pay 0.0009% / 1h	25m 00s	$26K	—	3x
Short	BloFin PENDLE-USDT	2.5219	−0.0032	pay 0.0032% / 8h	25m 00s	$1.3M	$713K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Aevo. 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 AevobpFee BloFinbpOrdersPrice spread, now +0.010%Rate

Funding earned: −$21.86
Price spread: +0.010% → 0.000%: $0.99
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$48.87
Costs to cover: 0.280%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; BloFin: live order book, 3 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 Aevo no order-book sample	—	—	—	—	—
Sell BloFin live order book, 3 min ago	3.96 bp	11.0 bp −$11	24.1 bp −$241	doesn't fit	doesn't fit

Aevo: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.5000%	1h	2.4940	−1.097%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0226%	1h	2.5221	+0.018%	$30K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0040%	1h	2.5239	+0.089%	$77K	$239K	50x	as long as short
Binance PENDLEUSDT	−0.0034%	8h	2.5219	+0.011%	$27.3M	$42.0M	75x	as long as short
BloFin PENDLE-USDTshort	−0.0032%	8h	2.5219	+0.010%	$1.3M	$713K	75x
Extended PENDLE-USD	−0.0032%	1h	2.5207	−0.037%	$166K	$528K	10x	as long as short
MEXC PENDLE_USDT	−0.0032%	8h	2.5217	+0.002%	$17.1M	$1.9M	125x	as long as short
Orderly PERP_PENDLE_USDC	−0.0003%	8h	2.5212	−0.018%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5221	+0.018%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0036%	8h	2.5202	−0.057%	$595K	$1.9M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT PENDLE_USDT_Perp	+0.0045%	8h	2.5244	+0.110%	$418K	$1.6M	10x	as long as short
Reya PENDLERUSDPERP	+0.0045%	1h	2.5216	−0.002%	$4K	—	15x	as long as short
Aevo PENDLE-PERPlong	+0.0072%	1h	2.5217	long leg	$26K	—	3x
Lighter PENDLE	+0.0096%	1h	2.5226	+0.038%	$532K	$416K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5207	−0.038%	$35K	$18K	10x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5237	+0.082%	$46K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5202	−0.058%	$15.5M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5190	−0.105%	$3.2M	$6.0M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5210	−0.026%	$785K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5232	+0.061%	$886K	$601K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5216	−0.002%	$3.8M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5215	−0.006%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5231	+0.058%	$25K	$381K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5230	+0.054%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5213	−0.014%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5225	+0.034%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0332%	1h	2.5273	+0.224%	$12.8M	$6.2M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0594%	1h	2.5263	+0.185%	$119K	$299K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+0.490%	$141K	$452K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0782%	1h	2.5257	+0.161%	$332K	$490K	15x	as long as short