Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h 0.000%

Price spread now: Aevo against BingX+0.426%7-day average — · you sell dearer than you buy

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

Long on BingX Short on Aevo

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 pays, funding is against you. Aevo is 0.426% dearer against BingX than usual: you sell high and buy low (spread +0.426% now, against zero (this spread has no 7-day history yet)): +$43 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PENDLE-USDT	2.5256	0.0100	pay 0.0100% / 8h	48m 30s	—	$35.7M	—
Short	Aevo PENDLE-PERP	2.5364	0.0080	get 0.0010% / 1h	48m 30s	$27K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against BingX. 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 BingXbpFee AevobpOrdersPrice spread, now +0.426%Rate

Funding earned: −$4.2
Price spread: +0.426% → 0.000%: $42.63
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: $12.43
Costs to cover: 0.260%
Break-even: from the start

Slippage unknown: BingX: live order book, 5 min ago; Aevo: 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 BingX live order book, 5 min ago	4.36 bp	12.8 bp −$13	24.7 bp −$247	207.8 bp −$20.8K	383.2 bp −$191.6K
Sell Aevo no order-book sample	—	—	—	—	—

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	2.4860	−1.568%	$2K	$54K	5.5x	as long as short
ApeX Omni PENDLEUSDT	−0.0078%	1h	2.5207	−0.194%	$77K	$239K	50x	as long as short
BloFin PENDLE-USDT	−0.0036%	8h	2.5349	+0.368%	$1.3M	$763K	75x	as long as short
Extended PENDLE-USD	−0.0008%	1h	2.5238	−0.069%	$167K	$528K	10x	as long as short
Binance PENDLEUSDT	−0.0007%	8h	2.5256	+0.002%	$27.3M	$41.7M	75x	as long as short
MEXC PENDLE_USDT	−0.0006%	8h	2.5277	+0.083%	$17.1M	$1.9M	125x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5278	+0.087%	$11K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.5382	+0.499%	$30K	$10K	10x	as long as short
Orderly PERP_PENDLE_USDC	+0.0006%	8h	2.5373	+0.463%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0043%	1h	2.5269	+0.053%	$4K	—	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PENDLE	+0.0050%	8h	2.5212	−0.175%	$557K	$1.8M	—	as long as short
GRVT PENDLE_USDT_Perp	+0.0068%	8h	2.5230	−0.105%	$418K	$1.6M	10x	as long as short
Aevo PENDLE-PERPshort	+0.0080%	1h	2.5364	+0.426%	$27K	—	3x
Lighter PENDLE	+0.0096%	1h	2.5268	+0.048%	$532K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5241	−0.058%	$35K	$18K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5371	+0.454%	$12.6M	$6.0M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5306	+0.198%	$45K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5240	−0.063%	$15.6M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5240	−0.063%	$3.3M	$6.0M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5270	+0.055%	$789K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5350	+0.372%	$904K	$595K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5238	−0.071%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDTlong	+0.0100%	8h	2.5256	long leg	—	$35.7M	—
edgeX PENDLEUSDC	+0.0100%	4h	2.5205	−0.204%	$25K	$397K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5294	+0.150%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5380	+0.491%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5388	+0.522%	$5K	—	100x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0591%	1h	2.5418	+0.643%	$120K	$301K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5360	+0.412%	$141K	$459K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.1202%	1h	2.5384	+0.507%	$329K	$492K	15x	as long as short