Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8hpaid last 24h 0.000%

Price spread now: ApeX Omni against Gate+0.012%7-day average +0.093% · you sell dearer than you buy

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$840.841% of the position

Long on Gate Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.089%−$9 on $10k

Price spread, last 3 days (all we have)+1.515%+$152 · spread now +0.012%, 7d avg +0.093%

Together, before fees+1.426%+$143 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.081% cheaper against Gate than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.093%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PENDLE_USDT	2.5440	0.0100	pay 0.0100% / 8h	4h 07m	$814K	$1.0M	75x
Short	ApeX Omni PENDLEUSDT	2.5443	0.0100	get 0.0013% / 1h	7m 01s	$78K	$239K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. 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 GatebpFee ApeX OmnibpOrdersPrice spread, now +0.012%Rate

Funding earned: $0
Price spread: +0.012% → +0.093%: −$8.11
Slippage, 4 orders: −$59.07
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$92.18
Costs to cover: 0.841%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; ApeX Omni: live order book, 23 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 Gate live order book, 5 min ago	1.96 bp	34.7 bp −$35	289.2 bp −$2,892	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 23 min ago	5.11 bp	12.5 bp −$12	101.3 bp −$1,013	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	−0.4300%	1h	2.5140	−1.179%	$2K	$7K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0624%	1h	2.5477	+0.144%	$158K	$248K	20x	as long as short
Variational Omni PENDLE	−0.0017%	8h	2.5445	+0.019%	$657K	$2.2M	—	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5465	+0.098%	$11K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.5468	+0.110%	$30K	$11K	10x	as long as short
Aster PENDLEUSDT	+0.0018%	8h	2.5458	+0.071%	$52K	$140K	10x	as long as short
Reya PENDLERUSDPERP	+0.0027%	1h	2.5468	+0.108%	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.0041%	8h	2.5464	+0.094%	$23K	$8K	10x	as long as short
MEXC PENDLE_USDT	+0.0078%	8h	2.5451	+0.043%	$17.1M	$2.2M	125x	as long as short
Binance PENDLEUSDT	+0.0078%	8h	2.5452	+0.046%	$27.9M	$37.0M	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended PENDLE-USD	+0.0080%	1h	2.5443	+0.010%	$167K	$519K	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5465	+0.098%	$556K	$380K	5x	as long as short
BloFin PENDLE-USDT	+0.0097%	8h	2.5452	+0.047%	$1.4M	$822K	75x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5440	−0.002%	$36K	$26K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5510	+0.275%	$12.4M	$5.3M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5450	+0.039%	$15.9M	$12.0M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5470	+0.118%	$3.3M	$5.4M	50x	as long as short
Gate PENDLE_USDTlong	+0.0100%	8h	2.5440	long leg	$814K	$1.0M	75x
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5478	+0.149%	$928K	$596K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5468	+0.110%	$3.8M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5453	+0.051%	—	$34.5M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5441	+0.005%	$25K	$414K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5456	+0.063%	$430K	$1.4M	10x	as long as short
ApeX Omni PENDLEUSDTshort	+0.0100%	1h	2.5443	+0.012%	$78K	$239K	50x
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5486	+0.181%	$16K	$30K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5474	+0.134%	$2K	$1.6M	20x	as long as short
Aevo PENDLE-PERP	+0.0104%	1h	2.5511	+0.280%	$27K	—	3x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0272%	1h	2.5477	+0.145%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0576%	1h	2.5520	+0.314%	$118K	$438K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0976%	1h	2.5514	+0.291%	$377K	$458K	15x	as long as short