data as of
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Funding arb /

PENDLE

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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding spread now, next payment 19:00 UTC+0.0552%/8h
next payment, per $10,000+$0.69paid, last 24h+0.082%paid, last 7 days+0.613%to open and close $10k−$48
Long on HyperliquidShort on Backpack
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHyperliquid PENDLE2.56270.0100pay 0.0013% / 1h39m 18s$12.3M$5.4M5x
ShortBackpack PENDLE_USDC_PERP2.56350.0652get 0.0081% / 1h39m 18s$377K$461K15x

Funding history

latest
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Funding on every exchange

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latest

Profit calculator

Funding earned
$115.86
Slippage, 4 orders
−$28.8
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Fee Backpack: 5 bp × 2 orders
−$10
Net
$68.06
Break-even
2.9 days
Slippage from Hyperliquid: live order book, 5 min ago; Backpack: live order book, 61 min ago.

Price risk

price view
Price gap now
+0.031%
Avg gap 7d
+0.009%
A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Hyperliquid live order book, 5 min ago1.56 bp19.2 bp −$19doesn't fitdoesn't fitdoesn't fit
Sell Backpack live order book, 61 min ago2.36 bp7.6 bp −$831.3 bp −$313doesn't fitdoesn't fit

PENDLE on 29 venues

lowest funding first. Swap a leg.
ExchangeFunding /8hEveryOIVol 24hMax lev
Injective PENDLE/USDC PERP−0.4421%1h$2K$7K5.5xas long as short
Variational Omni PENDLE−0.0127%8h$660K$2.2M—as long as short
Aster PENDLEUSDT−0.0010%8h$52K$139K10xas long as short
dYdX PENDLE-USD0.0000%1h$11K—5xas long as short
Deribit PENDLE_USDC-PERPETUAL0.0000%1h$30K$11K10xas long as short
Reya PENDLERUSDPERP+0.0020%1h$4K—15xas long as short
Orderly PERP_PENDLE_USDC+0.0043%8h$20K$4K10xas long as short
Binance PENDLEUSDT+0.0069%8h$28.1M$36.1M75xas long as short
MEXC PENDLE_USDT+0.0071%8h$17.1M$2.1M125xas long as short
Extended PENDLE-USD+0.0072%1h$169K$519K10xas long as short
Show all 29 venues
ExchangeFunding /8hEveryOIVol 24hMax lev
BloFin PENDLE-USDT+0.0075%8h$1.4M$823K75xas long as short
Lighter PENDLE+0.0096%1h$559K$358K5xas long as short
Aevo PENDLE-PERP+0.0096%1h$27K—3xas long as short
Paradex PENDLE-USD-PERP+0.0100%8h$36K$28K10xas long as short
Hyperliquid PENDLElong+0.0100%1h$12.3M$5.4M5x
Bybit PENDLEUSDT+0.0100%8h$16.0M$12.0M50xas long as short
OKX PENDLE-USDT-SWAP+0.0100%4h$3.4M$5.4M50xas long as short
Gate PENDLE_USDT+0.0100%8h$822K$1.0M75xas long as short
KuCoin PENDLEUSDTM+0.0100%8h$942K$604K50xas long as short
Bitget PENDLEUSDT+0.0100%8h$3.9M$2.7M75xas long as short
BingX PENDLE-USDT+0.0100%8h—$34.3M—as long as short
edgeX PENDLEUSDC+0.0100%4h$25K$414K10xas long as short
ApeX Omni PENDLEUSDT+0.0100%1h$78K$237K50xas long as short
Polymarket Perps PENDLE-USD+0.0100%1h$16K$30K5xas long as short
SunX PENDLE-USDT+0.0100%8h$2K$1.6M20xas long as short
GMX PENDLE/USD [PENDLE-USDC]L +0.0200% / S −0.0272%1h$5K—100xas long as short
Coinbase International PENDLE-PERP-INTX+0.0624%1h$117K$466K25xas long as short
Backpack PENDLE_USDC_PERPshort+0.0652%1h$377K$461K15x
Kraken Futures PF_PENDLEUSD+0.1427%1h$159K$257K20xas long as short