Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0019%/8h= +2.1% APRpaid last 24h +0.003%

Price spread now: MEXC against ApeX Omni+0.012%7-day average −0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$420.424% of the position

Long on ApeX Omni Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.077%+$8 on $10k

Price spread, last 3 days (all we have)−0.251%−$25 · spread now +0.012%, 7d avg −0.048%

Together, before fees−0.174%−$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and MEXC is 0.059% dearer against ApeX Omni than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PENDLEUSDT	2.5215	−0.0054	get 0.0007% / 1h	19m 04s	$77K	$239K	50x
Short	MEXC PENDLE_USDT	2.5218	−0.0035	pay 0.0035% / 8h	19m 04s	$17.1M	$1.9M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.012%Rate

Funding earned: $4.06
Price spread: +0.012% → −0.048%: $5.95
Slippage, 4 orders: −$28.41
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$32.4
Costs to cover: 0.424%
Break-even: 62.9 days

Slippage from ApeX Omni: live order book, 57 min ago; MEXC: live order book, 5 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, 57 min ago	6.83 bp	14.2 bp −$14	91.2 bp −$912	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	0.79 bp	5.9 bp −$6	31.1 bp −$311	102.8 bp −$10.3K	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	−0.5000%	1h	2.4940	−1.091%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0304%	1h	2.5239	+0.095%	$30K	$10K	10x	as long as short
ApeX Omni PENDLEUSDTlong	−0.0054%	1h	2.5215	long leg	$77K	$239K	50x
Binance PENDLEUSDT	−0.0040%	8h	2.5222	+0.028%	$27.3M	$42.0M	75x	as long as short
Extended PENDLE-USD	−0.0040%	1h	2.5212	−0.014%	$166K	$528K	10x	as long as short
MEXC PENDLE_USDTshort	−0.0035%	8h	2.5218	+0.012%	$17.1M	$1.9M	125x
BloFin PENDLE-USDT	−0.0023%	8h	2.5215	0.000%	$1.3M	$711K	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0004%	8h	2.5230	+0.059%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5236	+0.084%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0031%	8h	2.5247	+0.125%	$596K	$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	+0.0042%	8h	2.5230	+0.058%	$418K	$1.6M	10x	as long as short
Reya PENDLERUSDPERP	+0.0046%	1h	2.5235	+0.080%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0072%	1h	2.5232	+0.066%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5237	+0.087%	$532K	$416K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5203	−0.046%	$35K	$18K	10x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5267	+0.207%	$48K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5210	−0.020%	$15.6M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5210	−0.020%	$3.2M	$6.0M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5220	+0.020%	$784K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5255	+0.159%	$887K	$600K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5219	+0.016%	$3.8M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5225	+0.040%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5212	−0.012%	$25K	$382K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5258	+0.171%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5242	+0.107%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5247	+0.125%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0343%	1h	2.5265	+0.198%	$12.8M	$6.2M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0594%	1h	2.5279	+0.253%	$119K	$298K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+0.496%	$141K	$451K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0769%	1h	2.5268	+0.210%	$332K	$490K	15x	as long as short