Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0015%/8h= +1.6% APRpaid last 24h +0.013%

Price spread now: Paradex against ApeX Omni−0.089%7-day average — · you buy dearer than you sell

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

Long on ApeX Omni Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.089% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.089% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 20 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PENDLEUSDT	2.4504	0.0085	pay 0.0011% / 1h	46m 50s	$75K	$233K	50x
Short	Paradex PENDLE-USD-PERP	2.4482	0.0100	get 0.0100% / 8h	1h 46m	$34K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.089%Rate

Funding earned: $3.12
Price spread: −0.089% → 0.000%: −$8.93
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$19.8
Costs to cover: 0.140%
Break-even: 51.4 days

Slippage unknown: ApeX Omni: live order book, 59 min ago; Paradex: 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 ApeX Omni live order book, 59 min ago	6.34 bp	14.3 bp −$14	99.8 bp −$998	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	−0.4348%	1h	2.4250	−1.037%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0321%	1h	2.4489	−0.061%	$25K	$16K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0033%	8h	2.4482	−0.090%	$19K	$15K	10x	as long as short
Gate PENDLE_USDT	−0.0001%	8h	2.4500	−0.016%	$749K	$1.0M	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4550	+0.186%	$10K	—	5x	as long as short
BloFin PENDLE-USDT	+0.0019%	8h	2.4485	−0.078%	$1.1M	$487K	75x	as long as short
Extended PENDLE-USD	+0.0032%	1h	2.4486	−0.073%	$160K	$573K	10x	as long as short
MEXC PENDLE_USDT	+0.0033%	8h	2.4493	−0.045%	$17.5M	$2.0M	125x	as long as short
Binance PENDLEUSDT	+0.0034%	8h	2.4490	−0.058%	$25.8M	$45.0M	75x	as long as short
Reya PENDLERUSDPERP	+0.0077%	1h	2.4481	−0.093%	$3K	—	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni PENDLEUSDTlong	+0.0085%	1h	2.4504	long leg	$75K	$233K	50x
Aevo PENDLE-PERP	+0.0088%	1h	2.4484	−0.084%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4492	−0.049%	$518K	$415K	5x	as long as short
Paradex PENDLE-USD-PERPshort	+0.0100%	8h	2.4482	−0.089%	$34K	$7K	10x
Hyperliquid PENDLE	+0.0100%	1h	2.4531	+0.110%	$12.7M	$6.1M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4511	+0.027%	$47K	$170K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4480	−0.098%	$14.3M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4500	−0.016%	$3.1M	$6.6M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4507	+0.012%	$877K	$559K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4499	−0.020%	$3.8M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4499	−0.020%	—	$8.4M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4506	+0.008%	$565K	$1.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4497	−0.029%	$24K	$372K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.4512	+0.032%	$416K	$2.3M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4511	+0.029%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4511	+0.029%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4499	−0.020%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0501%	1h	2.4537	+0.135%	$348K	$434K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0688%	1h	2.4580	+0.310%	$161K	$527K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1660%	1h	2.4552	+0.197%	$115K	$262K	20x	as long as short