Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0004%/8hnext payment −$0.00 per $10,000 · paid last 24h −0.004%

Price spread now: Polymarket Perps against Aevo+0.079%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 Polymarket Perps

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.079% dearer against Aevo than usual: you sell high and buy low, +$8 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENDLE-PERP	2.5430	0.0104	pay 0.0013% / 1h	6m 05s	$27K	—	3x
Short	Polymarket Perps PENDLE-USD	2.5450	0.0100	get 0.0013% / 1h	6m 05s	$16K	$30K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.079%Rate

Funding earned: −$0.84
Price spread: +0.079% → 0.000%: $7.85
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$16.99
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Polymarket Perps: no order-book sample. 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 Polymarket Perps no order-book sample	—	—	—	—	—

Aevo and Polymarket Perps: 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	−0.4300%	1h	2.5140	−1.141%	$2K	$7K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0625%	1h	2.5440	+0.039%	$158K	$248K	20x	as long as short
Variational Omni PENDLE	−0.0017%	8h	2.5445	+0.058%	$657K	$2.2M	—	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5465	+0.138%	$11K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.5430	0.000%	$30K	$11K	10x	as long as short
Aster PENDLEUSDT	+0.0019%	8h	2.5453	+0.090%	$51K	$140K	10x	as long as short
Reya PENDLERUSDPERP	+0.0028%	1h	2.5425	−0.020%	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.0041%	8h	2.5429	−0.004%	$23K	$8K	10x	as long as short
MEXC PENDLE_USDT	+0.0078%	8h	2.5416	−0.055%	$17.0M	$2.2M	125x	as long as short
Binance PENDLEUSDT	+0.0078%	8h	2.5418	−0.047%	$27.9M	$37.0M	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended PENDLE-USD	+0.0080%	1h	2.5410	−0.078%	$167K	$519K	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5431	+0.004%	$555K	$380K	5x	as long as short
BloFin PENDLE-USDT	+0.0097%	8h	2.5452	+0.086%	$1.4M	$822K	75x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5418	−0.047%	$36K	$26K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5473	+0.169%	$12.4M	$5.3M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5400	−0.118%	$15.8M	$12.0M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5430	0.000%	$3.3M	$5.4M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5420	−0.039%	$814K	$1.0M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5450	+0.079%	$927K	$599K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5438	+0.031%	$3.8M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5410	−0.079%	—	$34.9M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5441	+0.045%	$25K	$414K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5456	+0.102%	$430K	$1.4M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.5443	+0.051%	$78K	$239K	50x	as long as short
Polymarket Perps PENDLE-USDshort	+0.0100%	1h	2.5450	+0.079%	$16K	$30K	5x
SunX PENDLE-USDT	+0.0100%	8h	2.5433	+0.012%	$2K	$1.6M	20x	as long as short
Aevo PENDLE-PERPlong	+0.0104%	1h	2.5430	long leg	$27K	—	3x
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0272%	1h	2.5435	+0.021%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0576%	1h	2.5520	+0.354%	$118K	$438K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0972%	1h	2.5476	+0.181%	$376K	$458K	15x	as long as short