Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: KuCoin against Bitget+0.059%7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$134as in the Funding arb table

Net, price: spread back to 7d avg − costs−$138as in the Price arb table

costs, in and out, $10k−$1391.389% of the position

Long on Bitget Short on KuCoin

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−0.002%$0 · spread now +0.059%, 7d avg +0.052%

Together, before fees+0.047%+$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENDLEUSDT	2.5216	0.0100	pay 0.0100% / 8h	24m 30s	$3.8M	$2.5M	75x
Short	KuCoin PENDLEUSDTM	2.5231	0.0100	get 0.0100% / 8h	24m 30s	$886K	$600K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.059%Rate

Funding earned: $0
Price spread: +0.059% → +0.052%: $0.73
Slippage, 4 orders: −$114.94
Fee Bitget: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$138.21
Costs to cover: 1.389%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; KuCoin: live order book, 40 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, 3 min ago	4.16 bp	21.8 bp −$22	43.1 bp −$431	doesn't fit	doesn't fit
Sell KuCoin live order book, 40 min ago	8.40 bp	35.6 bp −$36	221.6 bp −$2,216	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	−1.095%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0226%	1h	2.5221	+0.020%	$30K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0040%	1h	2.5239	+0.091%	$77K	$239K	50x	as long as short
Binance PENDLEUSDT	−0.0034%	8h	2.5213	−0.012%	$27.3M	$41.9M	75x	as long as short
BloFin PENDLE-USDT	−0.0032%	8h	2.5219	+0.012%	$1.3M	$713K	75x	as long as short
Extended PENDLE-USD	−0.0032%	1h	2.5189	−0.107%	$166K	$528K	10x	as long as short
MEXC PENDLE_USDT	−0.0032%	8h	2.5222	+0.024%	$17.1M	$1.9M	125x	as long as short
Orderly PERP_PENDLE_USDC	−0.0003%	8h	2.5212	−0.016%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5221	+0.020%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0036%	8h	2.5202	−0.055%	$595K	$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	+0.0045%	8h	2.5244	+0.112%	$418K	$1.6M	10x	as long as short
Reya PENDLERUSDPERP	+0.0045%	1h	2.5211	−0.020%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0072%	1h	2.5217	+0.002%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5225	+0.036%	$532K	$416K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5195	−0.084%	$35K	$18K	10x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5236	+0.080%	$46K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5194	−0.087%	$15.5M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5190	−0.103%	$3.2M	$6.0M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5210	−0.024%	$785K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTMshort	+0.0100%	8h	2.5231	+0.059%	$886K	$600K	50x
Bitget PENDLEUSDTlong	+0.0100%	8h	2.5216	long leg	$3.8M	$2.5M	75x
BingX PENDLE-USDT	+0.0100%	8h	2.5199	−0.067%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5231	+0.060%	$25K	$381K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5238	+0.087%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5213	−0.012%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5225	+0.036%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0336%	1h	2.5265	+0.194%	$12.8M	$6.2M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0594%	1h	2.5263	+0.187%	$119K	$299K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+0.492%	$141K	$452K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0782%	1h	2.5257	+0.163%	$332K	$490K	15x	as long as short