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% APRnext payment −$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Paradex against SunX−0.131%7-day average — · you buy dearer than you sell

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

Long on SunX 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 0.131% cheaper against SunX than usual: you would sell low and buy high, −$13 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	SunX PENDLE-USDT	2.4263	0.0100	pay 0.0100% / 8h	18m 38s	$2K	$1.8M	20x
Short	Paradex PENDLE-USD-PERP	2.4231	0.0100	get 0.0100% / 8h	18m 38s	$34K	$5K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against SunX. 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 SunXbpFee ParadexbpOrdersPrice spread, now −0.131%Rate

Funding earned: $0
Price spread: −0.131% → 0.000%: −$13.09
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$25.09
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 7 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 SunX live order book, 7 min ago	496.65 bp	doesn't fit	doesn't fit	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	−1.331%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0204%	1h	2.4244	−0.078%	$25K	$16K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0015%	8h	2.4236	−0.111%	$18K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4227	−0.149%	$10K	—	5x	as long as short
MEXC PENDLE_USDT	+0.0006%	8h	2.4228	−0.144%	$18.0M	$2.1M	125x	as long as short
Binance PENDLEUSDT	+0.0007%	8h	2.4229	−0.140%	$25.5M	$46.0M	75x	as long as short
Extended PENDLE-USD	+0.0008%	1h	2.4224	−0.159%	$157K	$927K	10x	as long as short
BloFin PENDLE-USDT	+0.0017%	8h	2.4232	−0.128%	$1.1M	$502K	75x	as long as short
ApeX Omni PENDLEUSDT	+0.0062%	1h	2.4193	−0.289%	$74K	$231K	50x	as long as short
Gate PENDLE_USDT	+0.0075%	8h	2.4230	−0.136%	$759K	$1.1M	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT PENDLE_USDT_Perp	+0.0076%	8h	2.4191	−0.298%	$404K	$2.5M	10x	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.4239	−0.101%	$25K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0084%	1h	2.4237	−0.107%	$3K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4242	−0.087%	$522K	$432K	5x	as long as short
Paradex PENDLE-USD-PERPshort	+0.0100%	8h	2.4231	−0.131%	$34K	$5K	10x
Hyperliquid PENDLE	+0.0100%	1h	2.4279	+0.066%	$12.7M	$6.1M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4238	−0.103%	$47K	$171K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4219	−0.181%	$14.1M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4250	−0.054%	$3.1M	$6.7M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4223	−0.165%	$719K	$617K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4235	−0.115%	$3.8M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4248	−0.062%	—	$8.2M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4181	−0.339%	$562K	$1.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4183	−0.330%	$24K	$369K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4260	−0.012%	$16K	$4K	5x	as long as short
SunX PENDLE-USDTlong	+0.0100%	8h	2.4263	long leg	$2K	$1.8M	20x
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4246	−0.071%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0626%	1h	2.4301	+0.157%	$351K	$435K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0672%	1h	2.4290	+0.111%	$156K	$507K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1526%	1h	2.4290	+0.110%	$115K	$263K	20x	as long as short