Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: edgeX against Polymarket Perps+0.086%64s7-day average — · you sell dearer than you buy

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

Long on Polymarket Perps Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.154%+$15 on $10k

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

Together, before fees—+ Points / potential airdropedgeX: 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: edgeX is 0.086% dearer against Polymarket Perps than usual: you sell high and buy low, +$9 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 64 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	Polymarket Perps PENDLE-USD	2.4932	0.0100	pay 0.0013% / 1h	18m 00s	$16K	$20K	5x
Short	edgeX PENDLEUSDC	2.4953	0.0100	get 0.0050% / 4h	1h 18m	$25K	$397K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Polymarket Perps. 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 Polymarket PerpsbpFee edgeXbpOrdersPrice spread, now +0.086%Rate

Funding earned: $0
Price spread: +0.086% → 0.000%: $8.57
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$8.43
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Polymarket Perps: no order-book sample; edgeX: live order book, 65 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 Polymarket Perps no order-book sample	—	—	—	—	—
Sell edgeX live order book, 65 min ago	1.19 bp	6.1 bp −$6	62.8 bp −$628	doesn't fit	doesn't fit

Polymarket Perps: 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	−0.3656%	1h	2.4770	−0.650%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0191%	1h	2.4925	−0.028%	$29K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0050%	1h	2.4960	+0.112%	$76K	$239K	50x	as long as short
BloFin PENDLE-USDT	−0.0009%	8h	2.4911	−0.084%	$1.3M	$736K	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4943	+0.044%	$10K	—	5x	as long as short
Binance PENDLEUSDT	+0.0005%	8h	2.4896	−0.144%	$26.8M	$40.8M	75x	as long as short
MEXC PENDLE_USDT	+0.0005%	8h	2.4896	−0.144%	$16.8M	$2.1M	125x	as long as short
Extended PENDLE-USD	+0.0008%	1h	2.4872	−0.240%	$164K	$526K	10x	as long as short
Orderly PERP_PENDLE_USDC	+0.0019%	8h	2.4916	−0.064%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0041%	1h	2.4912	−0.081%	$4K	—	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PENDLE	+0.0065%	8h	2.4937	+0.020%	$551K	$2.0M	—	as long as short
GRVT PENDLE_USDT_Perp	+0.0080%	8h	2.4959	+0.108%	$415K	$1.6M	10x	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.4905	−0.106%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4916	−0.064%	$524K	$424K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4893	−0.157%	$35K	$20K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4928	−0.016%	$12.3M	$6.0M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4910	−0.087%	$44K	$176K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4880	−0.209%	$15.3M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4910	−0.088%	$3.2M	$5.9M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4900	−0.128%	$781K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4908	−0.096%	$889K	$614K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4881	−0.205%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4896	−0.144%	—	$36.2M	—	as long as short
edgeX PENDLEUSDCshort	+0.0100%	4h	2.4953	+0.086%	$25K	$397K	10x
Polymarket Perps PENDLE-USDlong	+0.0100%	1h	2.4932	long leg	$16K	$20K	5x
SunX PENDLE-USDT	+0.0100%	8h	2.4936	+0.016%	$1K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.4929	−0.013%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5020	+0.353%	$139K	$462K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0676%	1h	2.4952	+0.080%	$352K	$474K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0754%	1h	2.4967	+0.140%	$120K	$304K	20x	as long as short