Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: edgeX against Bitget+0.213%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

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

Long on Bitget Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.048%+$5 on $10k

Price spread, last 3 days (all we have)+0.179%+$18 · spread now +0.213%, 7d avg +0.034%

Together, before fees+0.228%+ Points / potential airdropedgeX: Active · farm board+$23 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: edgeX is 0.180% dearer against Bitget than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENDLEUSDT	2.4882	0.0100	pay 0.0100% / 8h	1h 31m	$3.7M	$2.7M	75x
Short	edgeX PENDLEUSDC	2.4935	0.0100	get 0.0050% / 4h	1h 31m	$25K	$412K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Bitget. 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 BitgetbpFee edgeXbpOrdersPrice spread, now +0.213%Rate

Funding earned: $0
Price spread: +0.213% → +0.034%: $17.99
Slippage, 4 orders: −$34.16
Fee Bitget: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$37.17
Costs to cover: 0.552%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; edgeX: live order book, 52 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 Bitget live order book, 2 min ago	3.82 bp	23.6 bp −$24	55.7 bp −$557	doesn't fit	doesn't fit
Sell edgeX live order book, 52 min ago	1.19 bp	6.1 bp −$6	62.8 bp −$628	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	−0.3656%	1h	2.4770	−0.450%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0271%	1h	2.4924	+0.169%	$29K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0109%	1h	2.4948	+0.265%	$76K	$240K	50x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4929	+0.188%	$10K	—	5x	as long as short
Extended PENDLE-USD	+0.0008%	1h	2.4903	+0.086%	$164K	$526K	10x	as long as short
Binance PENDLEUSDT	+0.0011%	8h	2.4898	+0.065%	$27.0M	$40.4M	75x	as long as short
MEXC PENDLE_USDT	+0.0014%	8h	2.4894	+0.048%	$16.8M	$2.1M	125x	as long as short
BloFin PENDLE-USDT	+0.0014%	8h	2.4895	+0.052%	$1.3M	$733K	75x	as long as short
Orderly PERP_PENDLE_USDC	+0.0023%	8h	2.4919	+0.149%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0040%	1h	2.4917	+0.140%	$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	+0.0057%	8h	2.4947	+0.262%	$552K	$2.0M	—	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.4922	+0.162%	$26K	—	3x	as long as short
GRVT PENDLE_USDT_Perp	+0.0092%	8h	2.4914	+0.128%	$419K	$1.6M	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4909	+0.109%	$524K	$423K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4912	+0.120%	$35K	$20K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4940	+0.233%	$12.4M	$5.9M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4928	+0.184%	$43K	$173K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4890	+0.032%	$15.3M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4900	+0.072%	$3.2M	$5.8M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4890	+0.032%	$780K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4935	+0.213%	$891K	$613K	50x	as long as short
Bitget PENDLEUSDTlong	+0.0100%	8h	2.4882	long leg	$3.7M	$2.7M	75x
BingX PENDLE-USDT	+0.0100%	8h	2.4909	+0.109%	—	$36.3M	—	as long as short
edgeX PENDLEUSDCshort	+0.0100%	4h	2.4935	+0.213%	$25K	$412K	10x
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4945	+0.253%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4945	+0.253%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.4934	+0.210%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5010	+0.514%	$139K	$461K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0674%	1h	2.4958	+0.305%	$354K	$471K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0754%	1h	2.4975	+0.374%	$134K	$290K	20x	as long as short