Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Paradex against OKX−0.081%7-day average — · you buy dearer than you sell

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

Long on OKX Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.081% cheaper against OKX than usual: you would sell low and buy high, −$8 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PENDLE-USDT-SWAP	2.4290	0.0100	pay 0.0050% / 4h	13m 00s	$3.1M	$6.7M	50x
Short	Paradex PENDLE-USD-PERP	2.4270	0.0100	get 0.0100% / 8h	13m 00s	$34K	$5K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against OKX. 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 OKXbpFee ParadexbpOrdersPrice spread, now −0.081%Rate

Funding earned: $0
Price spread: −0.081% → 0.000%: −$8.14
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$22.14
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 5 min ago; Paradex: 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 OKX live order book, 5 min ago	2.06 bp	17.3 bp −$17	84.6 bp −$846	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	−0.4810%	1h	2.3940	−1.441%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0285%	1h	2.4287	−0.012%	$25K	$16K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0013%	8h	2.4283	−0.029%	$18K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4306	+0.064%	$10K	—	5x	as long as short
MEXC PENDLE_USDT	+0.0011%	8h	2.4273	−0.070%	$18.0M	$2.1M	125x	as long as short
Binance PENDLEUSDT	+0.0013%	8h	2.4275	−0.062%	$25.5M	$46.1M	75x	as long as short
Extended PENDLE-USD	+0.0016%	1h	2.4266	−0.098%	$158K	$927K	10x	as long as short
BloFin PENDLE-USDT	+0.0038%	8h	2.4270	−0.082%	$1.1M	$502K	75x	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.4277	−0.055%	$25K	—	3x	as long as short
GRVT PENDLE_USDT_Perp	+0.0083%	8h	2.4273	−0.069%	$407K	$2.5M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENDLE_USDT	+0.0084%	8h	2.4280	−0.041%	$760K	$1.1M	75x	as long as short
Reya PENDLERUSDPERP	+0.0085%	1h	2.4285	−0.021%	$3K	—	15x	as long as short
ApeX Omni PENDLEUSDT	+0.0085%	1h	2.4281	−0.037%	$74K	$232K	50x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4288	−0.008%	$523K	$432K	5x	as long as short
Paradex PENDLE-USD-PERPshort	+0.0100%	8h	2.4270	−0.081%	$34K	$5K	10x
Hyperliquid PENDLE	+0.0100%	1h	2.4311	+0.086%	$12.7M	$6.1M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4283	−0.029%	$47K	$171K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4278	−0.049%	$14.1M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAPlong	+0.0100%	4h	2.4290	long leg	$3.1M	$6.7M	50x
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4289	−0.004%	$721K	$617K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4281	−0.037%	$3.8M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4296	+0.025%	—	$8.2M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4266	−0.098%	$565K	$1.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4265	−0.104%	$24K	$371K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4314	+0.099%	$16K	$4K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4306	+0.066%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4282	−0.034%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0620%	1h	2.4333	+0.177%	$351K	$435K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0672%	1h	2.4320	+0.124%	$157K	$509K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1524%	1h	2.4327	+0.154%	$115K	$261K	20x	as long as short