Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Paradex−0.204%48s7-day average — · you buy dearer than you sell

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

Long on Paradex Short on BingX

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: BingX is 0.204% cheaper against Paradex than usual: you would sell low and buy high, −$20 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex PENDLE-USD-PERP	2.4488	0.0100	pay 0.0100% / 8h	6h 54m	$34K	$1K	10x
Short	BingX PENDLE-USDT	2.4438	0.0100	get 0.0100% / 8h	6h 54m	—	$8.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Paradex. 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 ParadexbpFee BingXbpOrdersPrice spread, now −0.204%Rate

Funding earned: $0
Price spread: −0.204% → 0.000%: −$20.44
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$34.44
Costs to cover: 0.140%
Break-even: 882961126.0 days

Slippage unknown: Paradex: no order-book sample; BingX: live order book, 8 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell BingX live order book, 8 min ago	4.28 bp	12.7 bp −$13	23.6 bp −$236	157.3 bp −$15.7K	435.1 bp −$217.6K

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	−0.5000%	1h	2.3930	−2.279%	$2K	$55K	5.5x	as long as short
ApeX Omni PENDLEUSDT	−0.0485%	1h	2.4621	+0.543%	$75K	$230K	50x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0118%	1h	2.4477	−0.045%	$25K	$13K	10x	as long as short
BloFin PENDLE-USDT	−0.0093%	8h	2.4470	−0.074%	$1.1M	$518K	75x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0077%	1h	2.4459	−0.118%	$115K	$252K	20x	as long as short
Extended PENDLE-USD	−0.0072%	1h	2.4445	−0.174%	$163K	$938K	10x	as long as short
Binance PENDLEUSDT	−0.0072%	8h	2.4444	−0.180%	$25.6M	$47.1M	75x	as long as short
MEXC PENDLE_USDT	−0.0071%	8h	2.4465	−0.094%	$18.6M	$2.1M	125x	as long as short
GRVT PENDLE_USDT_Perp	−0.0051%	8h	2.4560	+0.295%	$414K	$2.8M	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0003%	8h	2.4474	−0.057%	$19K	$15K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENDLE-USD	0.0000%	1h	2.4556	+0.278%	$10K	—	5x	as long as short
Aster PENDLEUSDT	+0.0033%	8h	2.4491	+0.011%	$50K	$176K	10x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4490	+0.008%	$26K	—	3x	as long as short
Variational Omni PENDLE	+0.0086%	8h	2.4555	+0.274%	$585K	$1.2M	—	as long as short
Reya PENDLERUSDPERP	+0.0091%	1h	2.4476	−0.051%	$3K	—	15x	as long as short
Bybit PENDLEUSDT	+0.0094%	8h	2.4430	−0.237%	$14.2M	$11.9M	50x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4435	−0.217%	$528K	$376K	5x	as long as short
Paradex PENDLE-USD-PERPlong	+0.0100%	8h	2.4488	long leg	$34K	$1K	10x
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4450	−0.155%	$3.1M	$6.8M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4450	−0.155%	$774K	$956K	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4497	+0.037%	$681K	$598K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4448	−0.164%	$3.8M	$2.5M	75x	as long as short
BingX PENDLE-USDTshort	+0.0100%	8h	2.4438	−0.204%	—	$8.3M	—
edgeX PENDLEUSDC	+0.0100%	4h	2.4602	+0.465%	$23K	$369K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4496	+0.032%	$16K	$4K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4481	−0.029%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0151% / S −0.0168%	1h	2.4480	−0.035%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0484%	1h	2.4502	+0.057%	$13.0M	$6.0M	5x	as long as short
Backpack PENDLE_USDC_PERP	+0.0686%	1h	2.4512	+0.098%	$364K	$433K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0728%	1h	2.4520	+0.131%	$169K	$539K	25x	as long as short