Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0151%/8h= +16.5% APRpaid last 24h +0.017%

Price spread now: Aevo against BloFin+0.119%353s7-day average — · you sell dearer than you buy

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

Long on BloFin 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

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Aevo is 0.119% dearer against BloFin than usual: you sell high and buy low: +$12 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 353 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	BloFin PENDLE-USDT	2.5143	−0.0095	get 0.0095% / 8h	6h 43m	$1.3M	$654K	75x
Short	Aevo PENDLE-PERP	2.5173	0.0056	get 0.0007% / 1h	43m 07s	$26K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against BloFin. 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 BloFinbpFee AevobpOrdersPrice spread, now +0.119%Rate

Funding earned: $31.72
Price spread: +0.119% → 0.000%: $11.86
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: $15.57
Costs to cover: 0.280%
Break-even: 3.6 days

Slippage unknown: BloFin: live order book, 9 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 BloFin live order book, 9 min ago	0.99 bp	12.5 bp −$12	23.8 bp −$238	doesn't fit	doesn't fit
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	−0.4742%	1h	2.4750	−1.563%	$2K	$54K	5.5x	as long as short
ApeX Omni PENDLEUSDT	−0.0271%	1h	2.5129	−0.056%	$77K	$237K	50x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0187%	1h	2.5186	+0.171%	$26K	$14K	10x	as long as short
MEXC PENDLE_USDT	−0.0110%	8h	2.5173	+0.119%	$17.4M	$1.8M	125x	as long as short
Binance PENDLEUSDT	−0.0108%	8h	2.5111	−0.129%	$27.1M	$43.3M	75x	as long as short
Extended PENDLE-USD	−0.0104%	1h	2.5156	+0.054%	$167K	$569K	10x	as long as short
GRVT PENDLE_USDT_Perp	−0.0097%	8h	2.5096	−0.187%	$421K	$1.7M	10x	as long as short
Bybit PENDLEUSDT	−0.0095%	8h	2.5070	−0.290%	$15.3M	$12.1M	50x	as long as short
BloFin PENDLE-USDTlong	−0.0095%	8h	2.5143	long leg	$1.3M	$654K	75x
Variational Omni PENDLE	−0.0038%	8h	2.5076	−0.266%	$598K	$1.8M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PENDLE_USDC	−0.0031%	8h	2.5177	+0.135%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5212	+0.275%	$11K	—	5x	as long as short
Aster PENDLEUSDT	+0.0007%	8h	2.5185	+0.166%	$50K	$180K	10x	as long as short
Gate PENDLE_USDT	+0.0019%	8h	2.5170	+0.107%	$785K	$1.2M	75x	as long as short
Reya PENDLERUSDPERP	+0.0054%	1h	2.5179	+0.142%	$4K	—	15x	as long as short
Aevo PENDLE-PERPshort	+0.0056%	1h	2.5173	+0.119%	$26K	—	3x
Lighter PENDLE	+0.0096%	1h	2.5178	+0.139%	$536K	$414K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5192	+0.195%	$35K	$16K	10x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5080	−0.251%	$3.2M	$6.2M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5190	+0.187%	$856K	$593K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5143	0.000%	$3.8M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5149	+0.024%	—	$33.8M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5121	−0.089%	$25K	$382K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5195	+0.207%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5189	+0.183%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0158% / S −0.0256%	1h	2.5206	+0.251%	$7K	—	100x	as long as short
Hyperliquid PENDLE	+0.0306%	1h	2.5177	+0.135%	$13.0M	$6.4M	5x	as long as short
Backpack PENDLE_USDC_PERP	+0.0391%	1h	2.5201	+0.231%	$353K	$485K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0632%	1h	2.5150	+0.028%	$146K	$469K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0864%	1h	2.5224	+0.321%	$117K	$291K	20x	as long as short