Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.009%

Price spread now: Paradex against Gate−0.049%7-day average — · you buy dearer than you sell

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

Long on Gate 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 airdropParadex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.049% cheaper against Gate than usual: you would sell low and buy high, −$5 on $10k if it 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	Gate PENDLE_USDT	2.5240	0.0100	pay 0.0100% / 8h	26m 39s	$786K	$1.2M	75x
Short	Paradex PENDLE-USD-PERP	2.5228	0.0100	get 0.0100% / 8h	26m 39s	$35K	$18K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.049%Rate

Funding earned: $0
Price spread: −0.049% → 0.000%: −$4.91
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$23.91
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 1 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 Gate live order book, 1 min ago	1.98 bp	18.2 bp −$18	200.5 bp −$2,005	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	−0.5000%	1h	2.4940	−1.189%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0146%	1h	2.5246	+0.024%	$30K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0040%	1h	2.5239	−0.004%	$77K	$239K	50x	as long as short
Binance PENDLEUSDT	−0.0032%	8h	2.5234	−0.024%	$27.3M	$42.1M	75x	as long as short
Extended PENDLE-USD	−0.0032%	1h	2.5219	−0.083%	$166K	$528K	10x	as long as short
MEXC PENDLE_USDT	−0.0032%	8h	2.5236	−0.016%	$17.1M	$1.9M	125x	as long as short
BloFin PENDLE-USDT	−0.0028%	8h	2.5251	+0.044%	$1.3M	$739K	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0003%	8h	2.5237	−0.012%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5247	+0.028%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0040%	8h	2.5182	−0.229%	$594K	$1.9M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT PENDLE_USDT_Perp	+0.0044%	8h	2.5188	−0.207%	$417K	$1.6M	10x	as long as short
Reya PENDLERUSDPERP	+0.0045%	1h	2.5244	+0.016%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0072%	1h	2.5243	+0.012%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5240	0.000%	$532K	$416K	5x	as long as short
Paradex PENDLE-USD-PERPshort	+0.0100%	8h	2.5228	−0.049%	$35K	$18K	10x
Aster PENDLEUSDT	+0.0100%	8h	2.5261	+0.082%	$46K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5214	−0.103%	$15.5M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5210	−0.119%	$3.2M	$6.0M	50x	as long as short
Gate PENDLE_USDTlong	+0.0100%	8h	2.5240	long leg	$786K	$1.2M	75x
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5255	+0.059%	$895K	$605K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5249	+0.036%	$3.7M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5217	−0.091%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5231	−0.035%	$25K	$381K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5270	+0.119%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5229	−0.044%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5238	−0.007%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0320%	1h	2.5293	+0.210%	$12.8M	$6.2M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0594%	1h	2.5288	+0.190%	$120K	$299K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+0.396%	$141K	$453K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0803%	1h	2.5298	+0.230%	$334K	$491K	15x	as long as short