Settings8H · net · $10k
Funding arb · Price arb /

PENDLE

all PENDLE markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 05:00 UTC−0.0096%/8h= −10.5% APRnext payment $0.12 per $10,000 · paid last 24h −0.027%
Price spread now: Polymarket Perps against GMX+0.047%7-day average · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)no history yet
Price spread, last 7 daysno price history on both exchanges yet
Together, before feesneeds both histories
The price spread pays, funding is against you. Polymarket Perps is 0.047% dearer against GMX than usual: you sell high and buy low (spread +0.047% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 39 hours.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGMX PENDLE/USD [PENDLE-USDC]2.4544L +0.0196% / S −0.0222%pay 0.0024% / 1h27m 09s$5K100x
ShortPolymarket Perps PENDLE-USD2.45560.0100get 0.0013% / 1h27m 09s$16K$7K5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Polymarket Perps against GMX. 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

Funding earned
−$20.09
Price spread: +0.047% → 0.000%
$4.71
Slippage, 4 orders
no order book: not counted
Fee GMX: 6 bp × 2 orders
−$12
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Net
−$35.39
Costs to cover
0.200%
Break-even
never at this rate
Slippage unknown: GMX: no order-book sample; 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
LegHalf-spread$10k$100k$1M$5M
Buy GMX no order-book sample
Sell Polymarket Perps no order-book sample
GMX and 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective PENDLE/USDC PERP−0.4243%1h2.4320−0.914%$2K$54K5.5xas long as short
Deribit PENDLE_USDC-PERPETUAL−0.0402%1h2.4538−0.026%$25K$14K10xas long as short
ApeX Omni PENDLEUSDT−0.0129%1h2.4570+0.104%$75K$234K50xas long as short
Gate PENDLE_USDT−0.0066%8h2.4550+0.023%$718K$1.1M75xas long as short
Binance PENDLEUSDT−0.0058%8h2.4531−0.053%$26.0M$44.2M75xas long as short
MEXC PENDLE_USDT−0.0057%8h2.4535−0.039%$17.4M$2.0M125xas long as short
Extended PENDLE-USD−0.0056%1h2.4521−0.097%$158K$581K10xas long as short
BloFin PENDLE-USDT−0.0055%8h2.4519−0.104%$1.1M$595K75xas long as short
Orderly PERP_PENDLE_USDC−0.0041%8h2.4530−0.059%$19K$15K10xas long as short
dYdX PENDLE-USD0.0000%1h2.4563+0.074%$10K5xas long as short
Show all 30 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster PENDLEUSDT+0.0004%8h2.4608+0.257%$47K$172K10xas long as short
GRVT PENDLE_USDT_Perp+0.0040%8h2.4548+0.014%$405K$2.0M10xas long as short
Variational Omni PENDLE+0.0063%8h2.4581+0.148%$551K$1.4Mas long as short
Aevo PENDLE-PERP+0.0064%1h2.4524−0.081%$26K3xas long as short
Reya PENDLERUSDPERP+0.0069%1h2.4534−0.043%$3K15xas long as short
Lighter PENDLE+0.0096%1h2.4540−0.018%$515K$428K5xas long as short
Paradex PENDLE-USD-PERP+0.0100%8h2.4528−0.065%$34K$11K10xas long as short
Bybit PENDLEUSDT+0.0100%8h2.4523−0.087%$14.4M$12.1M50xas long as short
OKX PENDLE-USDT-SWAP+0.0100%4h2.4530−0.059%$3.1M$6.4M50xas long as short
KuCoin PENDLEUSDTM+0.0100%8h2.4570+0.104%$886K$552K50xas long as short
Bitget PENDLEUSDT+0.0100%8h2.4539−0.022%$3.7M$2.3M75xas long as short
BingX PENDLE-USDT+0.0100%8h2.4544−0.002%$8.4Mas long as short
edgeX PENDLEUSDC+0.0100%4h2.4536−0.034%$24K$374K10xas long as short
Polymarket Perps PENDLE-USDshort+0.0100%1h2.4556+0.047%$16K$7K5x
SunX PENDLE-USDT+0.0100%8h2.4549+0.019%$2K$1.8M20xas long as short
Hyperliquid PENDLE+0.0174%1h2.4587+0.173%$12.7M$6.1M5xas long as short
GMX PENDLE/USD [PENDLE-USDC]longL +0.0196% / S −0.0222%1h2.4544long leg$5K100x
Coinbase International PENDLE-PERP-INTX+0.0640%1h2.4600+0.226%$146K$500K25xas long as short
Backpack PENDLE_USDC_PERP+0.0703%1h2.4591+0.190%$357K$400K15xas long as short
Kraken Futures PF_PENDLEUSD+0.1184%1h2.4590+0.187%$115K$269K20xas long as short