Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.003%

Price spread now: Aster against ApeX Omni−0.046%49s7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$3653.649% of the position

Long on ApeX Omni Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)+0.059%+$6 on $10k

Price spread, last 4 days (all we have)−0.322%−$32 · spread now −0.046%, 7d avg −0.033%

Together, before fees−0.262%+ Points / potential airdropAster: Stage 5 · farm board−$26 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.033%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PENDLEUSDT	2.4461	0.0023	pay 0.0003% / 1h	0m 44s	$74K	$233K	50x
Short	Aster PENDLEUSDT	2.4450	0.0055	get 0.0055% / 8h	3h 00m	$46K	$171K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against ApeX 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 ApeX OmnibpFee AsterbpOrdersPrice spread, now −0.046%Rate

Funding earned: $6.69
Price spread: −0.046% → −0.033%: −$1.29
Slippage, 4 orders: −$346.87
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$359.47
Costs to cover: 3.649%
Break-even: 383.2 days

Slippage from ApeX Omni: live order book, 51 min ago; Aster: live order book, 51 min ago.

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 ApeX Omni live order book, 51 min ago	5.49 bp	13.2 bp −$13	104.6 bp −$1,046	doesn't fit	doesn't fit
Sell Aster live order book, 51 min ago	36.29 bp	134.6 bp −$135	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	−0.4243%	1h	2.4300	−0.658%	$2K	$54K	5.5x	as long as short
Gate PENDLE_USDT	−0.0046%	8h	2.4440	−0.086%	$717K	$1.1M	75x	as long as short
Extended PENDLE-USD	−0.0040%	1h	2.4474	+0.053%	$157K	$579K	10x	as long as short
MEXC PENDLE_USDT	−0.0037%	8h	2.4449	−0.049%	$17.3M	$2.0M	125x	as long as short
Orderly PERP_PENDLE_USDC	−0.0037%	8h	2.4424	−0.151%	$19K	$15K	10x	as long as short
Binance PENDLEUSDT	−0.0036%	8h	2.4449	−0.049%	$25.8M	$44.4M	75x	as long as short
BloFin PENDLE-USDT	−0.0022%	8h	2.4437	−0.098%	$1.1M	$609K	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4469	+0.031%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4433	−0.114%	$24K	$15K	10x	as long as short
ApeX Omni PENDLEUSDTlong	+0.0023%	1h	2.4461	long leg	$74K	$233K	50x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENDLEUSDTshort	+0.0055%	8h	2.4450	−0.046%	$46K	$171K	10x
GRVT PENDLE_USDT_Perp	+0.0062%	8h	2.4502	+0.168%	$415K	$2.1M	10x	as long as short
Reya PENDLERUSDPERP	+0.0071%	1h	2.4432	−0.117%	$3K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0072%	1h	2.4416	−0.185%	$26K	—	3x	as long as short
Variational Omni PENDLE	+0.0089%	8h	2.4416	−0.185%	$548K	$1.4M	—	as long as short
Lighter PENDLE	+0.0096%	1h	2.4458	−0.012%	$516K	$432K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4450	−0.046%	$34K	$11K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4447	−0.057%	$14.3M	$12.0M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4470	+0.037%	$3.1M	$6.4M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4458	−0.012%	$860K	$554K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4469	+0.033%	$3.6M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4475	+0.057%	—	$8.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4464	+0.013%	$24K	$376K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4454	−0.029%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4433	−0.114%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4428	−0.133%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0302%	1h	2.4474	+0.053%	$12.6M	$6.1M	5x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0640%	1h	2.4460	−0.004%	$150K	$507K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0715%	1h	2.4480	+0.078%	$353K	$402K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1189%	1h	2.4491	+0.121%	$115K	$264K	20x	as long as short