Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against BingX+0.040%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$127as in the Funding arb table

Net, price: spread back to 7d avg − costs−$127as in the Price arb table

costs, in and out, $10k−$1311.306% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.033%+$3 on $10k

Price spread, last 7 days−0.086%−$9 · spread now +0.040%, 7d avg +0.005%

Together, before fees−0.053%−$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.035% dearer against BingX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PENDLE-USDT	2.5045	0.0100	pay 0.0100% / 8h	5h 56m	—	$33.6M	—
Short	KuCoin PENDLEUSDTM	2.5055	0.0100	get 0.0100% / 8h	5h 56m	$861K	$585K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.040%Rate

Funding earned: $0
Price spread: +0.040% → +0.005%: $3.52
Slippage, 4 orders: −$108.55
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$127.03
Costs to cover: 1.306%
Break-even: never at this rate

Slippage from BingX: live order book, 12 min ago; KuCoin: live order book, 53 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	2.99 bp	13.2 bp −$13	22.1 bp −$221	252.7 bp −$25.3K	444.3 bp −$222.2K
Sell KuCoin live order book, 53 min ago	9.93 bp	45.3 bp −$45	176.7 bp −$1,767	doesn't fit	doesn't fit

PENDLE on 29 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	−0.4938%	1h	2.4720	−1.298%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0229%	1h	2.5059	+0.056%	$26K	$14K	10x	as long as short
Binance PENDLEUSDT	−0.0130%	8h	2.5041	−0.017%	$26.9M	$42.5M	75x	as long as short
MEXC PENDLE_USDT	−0.0130%	8h	2.5057	+0.048%	$17.3M	$1.8M	125x	as long as short
Extended PENDLE-USD	−0.0128%	1h	2.5015	−0.120%	$162K	$570K	10x	as long as short
GRVT PENDLE_USDT_Perp	−0.0090%	8h	2.5027	−0.072%	$413K	$1.7M	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0067%	1h	2.5028	−0.068%	$76K	$235K	50x	as long as short
Aster PENDLEUSDT	−0.0052%	8h	2.5038	−0.027%	$50K	$181K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0039%	8h	2.5036	−0.036%	$20K	$15K	10x	as long as short
Variational Omni PENDLE	−0.0037%	8h	2.5056	+0.042%	$612K	$1.8M	—	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENDLE_USDT	−0.0013%	8h	2.5040	−0.020%	$757K	$1.1M	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5036	−0.035%	$11K	—	5x	as long as short
Aevo PENDLE-PERP	+0.0048%	1h	2.5027	−0.070%	$26K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0057%	1h	2.5047	+0.008%	$4K	—	15x	as long as short
Bybit PENDLEUSDT	+0.0065%	8h	2.5030	−0.060%	$15.1M	$11.8M	50x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5030	−0.060%	$533K	$412K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5038	−0.027%	$35K	$15K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5089	+0.176%	$12.9M	$6.3M	5x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5030	−0.060%	$3.2M	$6.0M	50x	as long as short
KuCoin PENDLEUSDTMshort	+0.0100%	8h	2.5055	+0.040%	$861K	$585K	50x
Bitget PENDLEUSDT	+0.0100%	8h	2.5039	−0.024%	$3.8M	$2.3M	75x	as long as short
BingX PENDLE-USDTlong	+0.0100%	8h	2.5045	long leg	—	$33.6M	—
Backpack PENDLE_USDC_PERP	+0.0100%	1h	2.4994	−0.204%	$349K	$429K	15x	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5050	+0.022%	$25K	$380K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5061	+0.064%	$16K	$8K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5055	+0.040%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0185% / S −0.0304%	1h	2.5062	+0.067%	$7K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0552%	1h	2.5060	+0.060%	$143K	$470K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0747%	1h	2.5106	+0.244%	$117K	$284K	20x	as long as short