Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: OKX against KuCoin+0.065%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$1061.056% of the position

Long on KuCoin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 7 days+0.044%+$4 · spread now +0.065%, 7d avg −0.009%

Together, before fees+0.020%+$2 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: OKX is 0.073% dearer against KuCoin than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PENDLEUSDTM	2.4664	0.0100	pay 0.0100% / 8h	4h 13m	$867K	$559K	50x
Short	OKX PENDLE-USDT-SWAP	2.4680	0.0100	get 0.0050% / 4h	13m 16s	$3.1M	$6.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against KuCoin. 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 KuCoinbpFee OKXbpOrdersPrice spread, now +0.065%Rate

Funding earned: $0
Price spread: +0.065% → −0.009%: $7.35
Slippage, 4 orders: −$83.6
Fee KuCoin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$98.25
Costs to cover: 1.056%
Break-even: never at this rate

Slippage from KuCoin: live order book, 26 min ago; OKX: live order book, 5 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 KuCoin live order book, 26 min ago	9.52 bp	47.4 bp −$47	149.0 bp −$1,490	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	4.06 bp	12.4 bp −$12	57.8 bp −$578	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	−0.4334%	1h	2.4340	−1.314%	$2K	$54K	5.5x	as long as short
Extended PENDLE-USD	−0.0064%	1h	2.4667	+0.014%	$159K	$574K	10x	as long as short
Binance PENDLEUSDT	−0.0061%	8h	2.4674	+0.041%	$26.1M	$43.5M	75x	as long as short
MEXC PENDLE_USDT	−0.0060%	8h	2.4674	+0.041%	$17.4M	$2.0M	125x	as long as short
Gate PENDLE_USDT	−0.0056%	8h	2.4630	−0.138%	$718K	$1.1M	75x	as long as short
BloFin PENDLE-USDT	−0.0052%	8h	2.4676	+0.049%	$1.2M	$606K	75x	as long as short
Aster PENDLEUSDT	−0.0049%	8h	2.4673	+0.036%	$47K	$179K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0037%	8h	2.4679	+0.061%	$19K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4677	+0.052%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4695	+0.126%	$25K	$14K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PENDLE	+0.0054%	8h	2.4606	−0.236%	$553K	$1.4M	—	as long as short
GRVT PENDLE_USDT_Perp	+0.0063%	8h	2.4631	−0.135%	$410K	$1.9M	10x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4676	+0.047%	$26K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0066%	1h	2.4669	+0.022%	$3K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4676	+0.049%	$517K	$424K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4663	−0.003%	$34K	$13K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4676	+0.049%	$14.6M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAPshort	+0.0100%	4h	2.4680	+0.065%	$3.1M	$6.1M	50x
KuCoin PENDLEUSDTMlong	+0.0100%	8h	2.4664	long leg	$867K	$559K	50x
Bitget PENDLEUSDT	+0.0100%	8h	2.4677	+0.053%	$3.7M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4652	−0.049%	—	$8.5M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4622	−0.172%	$24K	$379K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4625	−0.158%	$75K	$235K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4692	+0.114%	$16K	$8K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4698	+0.138%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4677	+0.053%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0340%	1h	2.4721	+0.231%	$12.8M	$6.0M	5x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0608%	1h	2.4820	+0.633%	$148K	$497K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0724%	1h	2.4690	+0.105%	$357K	$465K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1175%	1h	2.4742	+0.315%	$115K	$268K	20x	as long as short