Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0105%/8h= +11.5% APRpaid last 24h +0.001%

Price spread now: Polymarket Perps against BloFin+0.100%7-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 Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.081%−$8 on $10k

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 +$3 a day on $10k at the current rate, and Polymarket Perps is 0.100% dearer against BloFin than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.081%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PENDLE-USDT	2.4887	−0.0005	get 0.0005% / 8h	1h 15m	$1.3M	$733K	75x
Short	Polymarket Perps PENDLE-USD	2.4912	0.0100	get 0.0013% / 1h	15m 09s	$16K	$20K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.100%Rate

Funding earned: $22.05
Price spread: +0.100% → 0.000%: $10.05
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $12.09
Costs to cover: 0.200%
Break-even: 3.2 days

Slippage unknown: BloFin: live order book, 2 min ago; Polymarket Perps: 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, 2 min ago	2.61 bp	14.3 bp −$14	24.3 bp −$243	doesn't fit	doesn't fit
Sell Polymarket Perps no order-book sample	—	—	—	—	—

Polymarket Perps: 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	−0.3656%	1h	2.4770	−0.470%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0272%	1h	2.4886	−0.004%	$29K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0070%	1h	2.4903	+0.064%	$76K	$239K	50x	as long as short
BloFin PENDLE-USDTlong	−0.0005%	8h	2.4887	long leg	$1.3M	$733K	75x
Binance PENDLEUSDT	−0.0002%	8h	2.4898	+0.044%	$26.8M	$40.9M	75x	as long as short
MEXC PENDLE_USDT	−0.0002%	8h	2.4879	−0.032%	$16.8M	$2.1M	125x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4916	+0.117%	$10K	—	5x	as long as short
Extended PENDLE-USD	0.0000%	1h	2.4861	−0.105%	$164K	$526K	10x	as long as short
Orderly PERP_PENDLE_USDC	+0.0017%	8h	2.4880	−0.028%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0041%	1h	2.4874	−0.051%	$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	+0.0062%	8h	2.4872	−0.061%	$550K	$2.0M	—	as long as short
GRVT PENDLE_USDT_Perp	+0.0071%	8h	2.4885	−0.010%	$413K	$1.6M	10x	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.4874	−0.054%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4891	+0.016%	$524K	$424K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4874	−0.051%	$35K	$20K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4923	+0.145%	$12.3M	$6.0M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4885	−0.008%	$44K	$176K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4873	−0.056%	$15.3M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4890	+0.012%	$3.2M	$5.9M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4870	−0.068%	$780K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4888	+0.004%	$888K	$613K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4892	+0.020%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4884	−0.012%	—	$36.2M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4872	−0.060%	$25K	$398K	10x	as long as short
Polymarket Perps PENDLE-USDshort	+0.0100%	1h	2.4912	+0.100%	$16K	$20K	5x
SunX PENDLE-USDT	+0.0100%	8h	2.4900	+0.052%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.4901	+0.055%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5020	+0.534%	$139K	$462K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0665%	1h	2.4935	+0.193%	$352K	$475K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0755%	1h	2.4949	+0.247%	$119K	$304K	20x	as long as short