Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0164%/8h= +18.0% APRpaid last 24h +0.016%

Price spread now: Paradex against Extended+0.244%7-day average — · you sell dearer than you buy

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

Long on Extended Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropExtended: Active · Paradex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Paradex is 0.244% dearer against Extended than usual: you sell high and buy low: +$24 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENDLE-USD	2.4464	−0.0064	get 0.0008% / 1h	24m 19s	$158K	$576K	10x
Short	Paradex PENDLE-USD-PERP	2.4524	0.0100	get 0.0100% / 8h	3h 24m	$34K	$11K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Extended. 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 ExtendedbpFee ParadexbpOrdersPrice spread, now +0.244%Rate

Funding earned: $34.44
Price spread: +0.244% → 0.000%: $24.39
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Paradex: 2 bp × 2 orders: −$4
Net: $49.83
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Extended: live order book, 28 min ago; Paradex: 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 Extended live order book, 28 min ago	1.22 bp	14.7 bp −$15	101.5 bp −$1,015	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	−0.4243%	1h	2.4320	−0.590%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0648%	1h	2.4480	+0.064%	$25K	$14K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0155%	1h	2.4544	+0.325%	$75K	$233K	50x	as long as short
Gate PENDLE_USDT	−0.0080%	8h	2.4490	+0.105%	$716K	$1.1M	75x	as long as short
Extended PENDLE-USDlong	−0.0064%	1h	2.4464	long leg	$158K	$576K	10x
Binance PENDLEUSDT	−0.0061%	8h	2.4488	+0.096%	$25.9M	$44.2M	75x	as long as short
MEXC PENDLE_USDT	−0.0059%	8h	2.4493	+0.117%	$17.4M	$2.0M	125x	as long as short
BloFin PENDLE-USDT	−0.0059%	8h	2.4524	+0.244%	$1.1M	$594K	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0041%	8h	2.4470	+0.023%	$19K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4540	+0.309%	$10K	—	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENDLEUSDT	+0.0008%	8h	2.4557	+0.380%	$46K	$172K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0040%	8h	2.4548	+0.342%	$405K	$2.0M	10x	as long as short
Variational Omni PENDLE	+0.0060%	8h	2.4510	+0.188%	$551K	$1.4M	—	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4458	−0.026%	$26K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0070%	1h	2.4484	+0.079%	$3K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4538	+0.301%	$515K	$428K	5x	as long as short
Paradex PENDLE-USD-PERPshort	+0.0100%	8h	2.4524	+0.244%	$34K	$11K	10x
Bybit PENDLEUSDT	+0.0100%	8h	2.4451	−0.055%	$14.4M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4470	+0.023%	$3.1M	$6.3M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4518	+0.219%	$885K	$552K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4488	+0.096%	$3.6M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4485	+0.084%	—	$8.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4528	+0.259%	$24K	$375K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4545	+0.329%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4511	+0.190%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4493	+0.116%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0205%	1h	2.4539	+0.305%	$12.7M	$6.1M	5x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0640%	1h	2.4530	+0.268%	$146K	$498K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0666%	1h	2.4582	+0.481%	$357K	$400K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1187%	1h	2.4536	+0.294%	$115K	$269K	20x	as long as short