Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0110%/8h= +12.1% APRpaid last 24h +0.018%

Price spread now: edgeX against BloFin−0.028%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$410.412% of the position

Long on BloFin Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.086%+$9 on $10k

Price spread, last 4 days (all we have)−0.092%−$9 · spread now −0.028%, 7d avg −0.025%

Together, before fees−0.007%+ Points / potential airdropedgeX: Active · farm board−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.025%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PENDLE-USDT	2.4399	−0.0010	get 0.0010% / 8h	2h 30m	$1.1M	$599K	75x
Short	edgeX PENDLEUSDC	2.4392	0.0100	get 0.0050% / 4h	2h 30m	$24K	$375K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.028%Rate

Funding earned: $23.18
Price spread: −0.028% → −0.025%: −$0.32
Slippage, 4 orders: −$20.2
Fee BloFin: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$18.35
Costs to cover: 0.412%
Break-even: 12.5 days

Slippage from BloFin: live order book, 2 min ago; edgeX: live order book, 18 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 BloFin live order book, 2 min ago	0.82 bp	14.3 bp −$14	27.0 bp −$270	doesn't fit	doesn't fit
Sell edgeX live order book, 18 min ago	1.63 bp	6.3 bp −$6	65.9 bp −$659	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	−0.3926%	1h	2.4150	−1.021%	$2K	$54K	5.5x	as long as short
Gate PENDLE_USDT	−0.0037%	8h	2.4450	+0.209%	$717K	$1.1M	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0035%	8h	2.4468	+0.283%	$19K	$15K	10x	as long as short
BloFin PENDLE-USDTlong	−0.0010%	8h	2.4399	long leg	$1.1M	$599K	75x
dYdX PENDLE-USD	0.0000%	1h	2.4416	+0.068%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4474	+0.307%	$24K	$15K	10x	as long as short
Extended PENDLE-USD	+0.0008%	1h	2.4454	+0.227%	$157K	$582K	10x	as long as short
MEXC PENDLE_USDT	+0.0008%	8h	2.4471	+0.295%	$17.3M	$2.0M	125x	as long as short
Binance PENDLEUSDT	+0.0010%	8h	2.4463	+0.263%	$25.8M	$44.3M	75x	as long as short
Reya PENDLERUSDPERP	+0.0074%	1h	2.4468	+0.281%	$3K	—	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PENDLE-PERP	+0.0080%	1h	2.4460	+0.250%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4480	+0.332%	$516K	$416K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4420	+0.086%	$34K	$9K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4504	+0.430%	$12.6M	$6.1M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4454	+0.227%	$46K	$171K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4473	+0.303%	$14.3M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4500	+0.414%	$3.1M	$6.4M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4464	+0.266%	$860K	$554K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4448	+0.201%	$3.6M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4459	+0.246%	—	$8.4M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4386	−0.052%	$548K	$1.4M	—	as long as short
edgeX PENDLEUSDCshort	+0.0100%	4h	2.4392	−0.028%	$24K	$375K	10x
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.4410	+0.045%	$408K	$2.2M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4389	−0.041%	$74K	$234K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4476	+0.316%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4427	+0.115%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4473	+0.301%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.4540	+0.578%	$155K	$522K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0654%	1h	2.4444	+0.184%	$354K	$401K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1189%	1h	2.4539	+0.575%	$115K	$263K	20x	as long as short