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: SunX against Paradex+0.028%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on SunX

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: SunX is 0.028% dearer against Paradex than usual: you sell high and buy low, +$3 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	Paradex PENDLE-USD-PERP	2.4585	0.0100	pay 0.0100% / 8h	3h 20m	$34K	$11K	10x
Short	SunX PENDLE-USDT	2.4592	0.0100	get 0.0100% / 8h	3h 20m	$2K	$1.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.028%Rate

Funding earned: $0
Price spread: +0.028% → 0.000%: $2.77
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee SunX: 4 bp × 2 orders: −$8
Net: −$9.23
Costs to cover: 0.120%
Break-even: 236544582.7 days

Slippage unknown: Paradex: no order-book sample; SunX: live order book, 5 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 SunX live order book, 5 min ago	500.21 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

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	−0.4243%	1h	2.4280	−1.241%	$2K	$54K	5.5x	as long as short
ApeX Omni PENDLEUSDT	−0.0149%	1h	2.4526	−0.241%	$75K	$234K	50x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0075%	1h	2.4580	−0.021%	$25K	$14K	10x	as long as short
Gate PENDLE_USDT	−0.0070%	8h	2.4550	−0.143%	$718K	$1.1M	75x	as long as short
Extended PENDLE-USD	−0.0064%	1h	2.4583	−0.008%	$158K	$576K	10x	as long as short
MEXC PENDLE_USDT	−0.0062%	8h	2.4587	+0.007%	$17.4M	$2.0M	125x	as long as short
Binance PENDLEUSDT	−0.0060%	8h	2.4584	−0.006%	$26.0M	$44.3M	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0040%	8h	2.4568	−0.070%	$19K	$15K	10x	as long as short
BloFin PENDLE-USDT	−0.0038%	8h	2.4562	−0.094%	$1.1M	$596K	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4560	−0.102%	$10K	—	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENDLEUSDT	+0.0017%	8h	2.4613	+0.113%	$47K	$172K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0033%	8h	2.4530	−0.224%	$415K	$2.0M	10x	as long as short
Variational Omni PENDLE	+0.0063%	8h	2.4551	−0.140%	$551K	$1.4M	—	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4567	−0.072%	$26K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0070%	1h	2.4576	−0.039%	$3K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4570	−0.062%	$516K	$428K	5x	as long as short
Paradex PENDLE-USD-PERPlong	+0.0100%	8h	2.4585	long leg	$34K	$11K	10x
Bybit PENDLEUSDT	+0.0100%	8h	2.4580	−0.021%	$14.4M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4600	+0.060%	$3.1M	$6.4M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4563	−0.090%	$886K	$556K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4583	−0.009%	$3.7M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4589	+0.016%	—	$8.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4508	−0.314%	$24K	$376K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4588	+0.011%	$16K	$7K	5x	as long as short
SunX PENDLE-USDTshort	+0.0100%	8h	2.4592	+0.028%	$2K	$1.8M	20x
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4579	−0.025%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0233%	1h	2.4617	+0.129%	$12.8M	$6.1M	5x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0640%	1h	2.4610	+0.101%	$152K	$508K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0670%	1h	2.4618	+0.134%	$358K	$400K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1182%	1h	2.4627	+0.169%	$115K	$269K	20x	as long as short