Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0674%/8h= +73.8% APRpaid last 24h +0.005%

Price spread now: Polymarket Perps against Gate+0.147%7-day average — · you sell dearer than you buy

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

Long on Gate Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.097%−$10 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 +$20 a day on $10k at the current rate, and Polymarket Perps is 0.147% dearer against Gate than usual: you sell high and buy low: +$15 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 −0.097%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.097% in total (about -5.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PENDLE_USDT	2.5220	−0.0574	get 0.0574% / 8h	7h 58m	$779K	$1.2M	75x
Short	Polymarket Perps PENDLE-USD	2.5257	0.0100	get 0.0013% / 1h	58m 09s	$16K	$20K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.147%Rate

Funding earned: $141.54
Price spread: +0.147% → 0.000%: $14.67
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $133.21
Costs to cover: 0.230%
Break-even: 0.4 days

Slippage unknown: Gate: live order book, 4 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 Gate live order book, 4 min ago	3.98 bp	20.4 bp −$20	203.6 bp −$2,036	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	−0.4643%	1h	2.4940	−1.110%	$2K	$54K	5.5x	as long as short
Bybit PENDLEUSDT	−0.1206%	8h	2.5220	0.000%	$15.6M	$12.0M	50x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.1175%	1h	2.5224	+0.016%	$28K	$11K	10x	as long as short
Gate PENDLE_USDTlong	−0.0574%	8h	2.5220	long leg	$779K	$1.2M	75x
ApeX Omni PENDLEUSDT	−0.0085%	1h	2.5129	−0.361%	$77K	$239K	50x	as long as short
Extended PENDLE-USD	−0.0072%	1h	2.5206	−0.056%	$166K	$524K	10x	as long as short
MEXC PENDLE_USDT	−0.0072%	8h	2.5229	+0.036%	$17.1M	$1.8M	125x	as long as short
Binance PENDLEUSDT	−0.0070%	8h	2.5221	+0.005%	$27.3M	$42.4M	75x	as long as short
BloFin PENDLE-USDT	−0.0057%	8h	2.5275	+0.218%	$1.3M	$712K	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0011%	8h	2.5221	+0.004%	$20K	$16K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENDLE-USD	0.0000%	1h	2.5256	+0.145%	$11K	—	5x	as long as short
GRVT PENDLE_USDT_Perp	+0.0015%	8h	2.5166	−0.214%	$426K	$1.6M	10x	as long as short
Variational Omni PENDLE	+0.0019%	8h	2.5102	−0.469%	$598K	$1.9M	—	as long as short
Reya PENDLERUSDPERP	+0.0047%	1h	2.5239	+0.075%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.5202	−0.071%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5234	+0.056%	$532K	$407K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5237	+0.069%	$35K	$18K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5264	+0.174%	$12.8M	$6.2M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5247	+0.107%	$47K	$178K	10x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5220	0.000%	$3.2M	$6.0M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5246	+0.103%	$887K	$600K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5226	+0.024%	$3.8M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5211	−0.036%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5126	−0.373%	$25K	$383K	10x	as long as short
Polymarket Perps PENDLE-USDshort	+0.0100%	1h	2.5257	+0.147%	$16K	$20K	5x
SunX PENDLE-USDT	+0.0100%	8h	2.5217	−0.012%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5236	+0.065%	$5K	—	100x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0616%	1h	2.5271	+0.203%	$119K	$298K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0728%	1h	2.5270	+0.198%	$141K	$449K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.1147%	1h	2.5273	+0.210%	$332K	$488K	15x	as long as short