Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0140%/8h= −15.4% APRpaid last 24h −0.006%

Price spread now: ApeX Omni against BingX+0.087%53s7-day average +0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

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

costs, in and out, $10k−$550.552% of the position

Long on BingX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.109%−$11 on $10k

Price spread, last 3 days (all we have)+0.166%+$17 · spread now +0.087%, 7d avg +0.077%

Together, before fees+0.057%+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.077%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate. The two prices were read 53 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	BingX PENDLE-USDT	2.5217	0.0100	pay 0.0100% / 8h	26m 36s	—	$35.7M	—
Short	ApeX Omni PENDLEUSDT	2.5239	−0.0040	pay 0.0005% / 1h	26m 36s	$77K	$239K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now +0.087%Rate

Funding earned: −$29.47
Price spread: +0.087% → +0.077%: $1
Slippage, 4 orders: −$35.19
Fee BingX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$83.65
Costs to cover: 0.552%
Break-even: never at this rate

Slippage from BingX: live order book, 12 min ago; ApeX Omni: live order book, 50 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 BingX live order book, 12 min ago	4.36 bp	12.4 bp −$12	25.1 bp −$251	240.6 bp −$24.1K	442.8 bp −$221.4K
Sell ApeX Omni live order book, 50 min ago	6.83 bp	14.6 bp −$15	104.6 bp −$1,046	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	−0.5000%	1h	2.4940	−1.098%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0146%	1h	2.5246	+0.115%	$30K	$10K	10x	as long as short
ApeX Omni PENDLEUSDTshort	−0.0040%	1h	2.5239	+0.087%	$77K	$239K	50x
Binance PENDLEUSDT	−0.0032%	8h	2.5234	+0.067%	$27.3M	$42.1M	75x	as long as short
Extended PENDLE-USD	−0.0032%	1h	2.5219	+0.008%	$166K	$528K	10x	as long as short
MEXC PENDLE_USDT	−0.0032%	8h	2.5236	+0.075%	$17.1M	$1.9M	125x	as long as short
BloFin PENDLE-USDT	−0.0028%	8h	2.5251	+0.135%	$1.3M	$739K	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0003%	8h	2.5237	+0.079%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5247	+0.119%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0040%	8h	2.5182	−0.138%	$594K	$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	+0.0044%	8h	2.5188	−0.116%	$417K	$1.6M	10x	as long as short
Reya PENDLERUSDPERP	+0.0045%	1h	2.5244	+0.107%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0072%	1h	2.5243	+0.103%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5240	+0.091%	$532K	$416K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5228	+0.042%	$35K	$18K	10x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5261	+0.174%	$46K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5214	−0.012%	$15.5M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5210	−0.028%	$3.2M	$6.0M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5240	+0.091%	$786K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5255	+0.151%	$895K	$605K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5249	+0.127%	$3.7M	$2.5M	75x	as long as short
BingX PENDLE-USDTlong	+0.0100%	8h	2.5217	long leg	—	$35.7M	—
edgeX PENDLEUSDC	+0.0100%	4h	2.5231	+0.056%	$25K	$381K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5270	+0.210%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5229	+0.048%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5238	+0.084%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0320%	1h	2.5293	+0.301%	$12.8M	$6.2M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0594%	1h	2.5288	+0.281%	$120K	$299K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+0.488%	$141K	$453K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0803%	1h	2.5298	+0.321%	$334K	$491K	15x	as long as short