Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against MEXC+0.003%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$370.371% of the position

Long on MEXC Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 7 days+0.042%+$4 · spread now +0.003%, 7d avg +0.007%

Together, before fees+0.043%+$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PENDLE_USDT	2.5130	−0.0111	get 0.0111% / 8h	6h 47m	$17.4M	$1.8M	125x
Short	Binance PENDLEUSDT	2.5131	−0.0111	pay 0.0111% / 8h	6h 47m	$27.1M	$43.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.003%Rate

Funding earned: $0.05
Price spread: +0.003% → +0.007%: −$0.33
Slippage, 4 orders: −$23.13
Fee MEXC: 2 bp × 2 orders: −$4
Fee Binance: 5 bp × 2 orders: −$10
Net: −$37.41
Costs to cover: 0.371%
Break-even: 5429.0 days

Slippage from MEXC: live order book, 6 min ago; Binance: live order book, 10 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 MEXC live order book, 6 min ago	0.99 bp	7.1 bp −$7	31.5 bp −$315	99.7 bp −$9,971	doesn't fit
Sell Binance live order book, 10 min ago	0.60 bp	11.6 bp −$12	28.0 bp −$280	163.4 bp −$16.3K	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	−0.4742%	1h	2.4750	−1.512%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0545%	1h	2.5149	+0.076%	$26K	$14K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0377%	1h	2.5149	+0.076%	$77K	$237K	50x	as long as short
Bybit PENDLEUSDT	−0.0132%	8h	2.5107	−0.092%	$15.4M	$12.1M	50x	as long as short
Extended PENDLE-USD	−0.0112%	1h	2.5111	−0.074%	$163K	$565K	10x	as long as short
GRVT PENDLE_USDT_Perp	−0.0112%	8h	2.5146	+0.064%	$420K	$1.7M	10x	as long as short
MEXC PENDLE_USDTlong	−0.0111%	8h	2.5130	long leg	$17.4M	$1.8M	125x
Binance PENDLEUSDTshort	−0.0111%	8h	2.5131	+0.003%	$27.1M	$43.2M	75x
BloFin PENDLE-USDT	−0.0095%	8h	2.5143	+0.052%	$1.3M	$654K	75x	as long as short
Variational Omni PENDLE	−0.0040%	8h	2.5116	−0.055%	$599K	$1.8M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PENDLE_USDC	−0.0031%	8h	2.5115	−0.060%	$20K	$16K	10x	as long as short
Gate PENDLE_USDT	−0.0028%	8h	2.5130	0.000%	$784K	$1.2M	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5166	+0.143%	$11K	—	5x	as long as short
Aster PENDLEUSDT	+0.0009%	8h	2.5124	−0.024%	$50K	$180K	10x	as long as short
Reya PENDLERUSDPERP	+0.0053%	1h	2.5127	−0.012%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0056%	1h	2.5132	+0.008%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5138	+0.032%	$535K	$414K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5125	−0.021%	$35K	$16K	10x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5100	−0.119%	$3.2M	$6.2M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5141	+0.044%	$854K	$593K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5150	+0.080%	$3.8M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5124	−0.024%	—	$33.8M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5139	+0.036%	$25K	$381K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5145	+0.060%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5141	+0.044%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0158% / S −0.0256%	1h	2.5146	+0.065%	$7K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0297%	1h	2.5187	+0.227%	$353K	$485K	15x	as long as short
Hyperliquid PENDLE	+0.0319%	1h	2.5185	+0.219%	$13.0M	$6.4M	5x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0632%	1h	2.5210	+0.318%	$146K	$470K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0865%	1h	2.5197	+0.266%	$117K	$291K	20x	as long as short