Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0105%/8h= +11.5% APRpaid last 24h +0.003%

Price spread now: Aevo against MEXC+0.016%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PENDLE_USDT	2.5218	−0.0033	get 0.0033% / 8h	23m 11s	$17.1M	$1.9M	125x
Short	Aevo PENDLE-PERP	2.5222	0.0072	get 0.0009% / 1h	23m 11s	$26K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against MEXC. 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 MEXCbpFee AevobpOrdersPrice spread, now +0.016%Rate

Funding earned: $22.05
Price spread: +0.016% → 0.000%: $1.59
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Aevo: 8 bp × 2 orders: −$16
Net: $3.64
Costs to cover: 0.200%
Break-even: 5.8 days

Slippage unknown: MEXC: live order book, just now; Aevo: 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 MEXC live order book, just now	0.79 bp	7.7 bp −$8	29.3 bp −$293	96.3 bp −$9,628	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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	−1.102%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0305%	1h	2.5230	+0.048%	$30K	$10K	10x	as long as short
BloFin PENDLE-USDT	−0.0058%	8h	2.5235	+0.067%	$1.3M	$714K	75x	as long as short
Binance PENDLEUSDT	−0.0035%	8h	2.5242	+0.095%	$27.3M	$41.9M	75x	as long as short
MEXC PENDLE_USDTlong	−0.0033%	8h	2.5218	long leg	$17.1M	$1.9M	125x
Extended PENDLE-USD	−0.0032%	1h	2.5209	−0.034%	$166K	$528K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0027%	1h	2.5215	−0.012%	$77K	$239K	50x	as long as short
Orderly PERP_PENDLE_USDC	−0.0004%	8h	2.5227	+0.036%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5221	+0.012%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0036%	8h	2.5202	−0.063%	$595K	$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	+0.0045%	8h	2.5244	+0.104%	$418K	$1.6M	10x	as long as short
Reya PENDLERUSDPERP	+0.0045%	1h	2.5218	0.000%	$4K	—	15x	as long as short
Aevo PENDLE-PERPshort	+0.0072%	1h	2.5222	+0.016%	$26K	—	3x
Lighter PENDLE	+0.0096%	1h	2.5241	+0.091%	$532K	$416K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5207	−0.045%	$35K	$18K	10x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5243	+0.100%	$46K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5229	+0.044%	$15.6M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5230	+0.048%	$3.2M	$6.0M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5220	+0.008%	$785K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5231	+0.052%	$886K	$600K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5201	−0.067%	$3.8M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5217	−0.004%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5208	−0.038%	$25K	$382K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5241	+0.091%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5230	+0.048%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5240	+0.088%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0343%	1h	2.5270	+0.206%	$12.8M	$6.2M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0594%	1h	2.5289	+0.281%	$119K	$299K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+0.484%	$141K	$451K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0781%	1h	2.5263	+0.178%	$332K	$490K	15x	as long as short