Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.005%

Price spread now: Gate against Aevo+0.079%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Gate

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Gate is 0.079% dearer against Aevo than usual: you sell high and buy low (spread +0.079% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENDLE-PERP	2.4751	0.0088	pay 0.0011% / 1h	19m 08s	$26K	—	3x
Short	Gate PENDLE_USDT	2.4770	−0.0016	pay 0.0016% / 8h	2h 19m	$732K	$1.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Aevo. 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 AevobpFee GatebpOrdersPrice spread, now +0.079%Rate

Funding earned: −$21.84
Price spread: +0.079% → 0.000%: $7.86
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$44.98
Costs to cover: 0.310%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Gate: live order book, 3 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 Aevo no order-book sample	—	—	—	—	—
Sell Gate live order book, 3 min ago	4.08 bp	25.8 bp −$26	112.4 bp −$1,124	doesn't fit	doesn't fit

Aevo: 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	−0.3926%	1h	2.4200	−2.224%	$2K	$54K	5.5x	as long as short
Orderly PERP_PENDLE_USDC	−0.0035%	8h	2.4761	+0.042%	$19K	$15K	10x	as long as short
Gate PENDLE_USDTshort	−0.0016%	8h	2.4770	+0.079%	$732K	$1.1M	75x
dYdX PENDLE-USD	0.0000%	1h	2.4701	−0.202%	$10K	—	5x	as long as short
BloFin PENDLE-USDT	+0.0011%	8h	2.4787	+0.147%	$1.1M	$609K	75x	as long as short
MEXC PENDLE_USDT	+0.0030%	8h	2.4791	+0.163%	$17.6M	$2.0M	125x	as long as short
Extended PENDLE-USD	+0.0032%	1h	2.4756	+0.024%	$158K	$577K	10x	as long as short
Binance PENDLEUSDT	+0.0035%	8h	2.4788	+0.150%	$26.1M	$44.4M	75x	as long as short
Reya PENDLERUSDPERP	+0.0075%	1h	2.4757	+0.025%	$3K	—	15x	as long as short
Aevo PENDLE-PERPlong	+0.0088%	1h	2.4751	long leg	$26K	—	3x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PENDLE	+0.0096%	1h	2.4770	+0.079%	$525K	$426K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4689	−0.249%	$35K	$9K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4830	+0.321%	$12.8M	$6.1M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4759	+0.036%	$47K	$171K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4760	+0.038%	$14.5M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4800	+0.200%	$3.2M	$6.6M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4772	+0.087%	$873K	$558K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4788	+0.151%	$3.7M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4774	+0.095%	—	$8.4M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4491	−1.050%	$551K	$1.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4507	−0.982%	$24K	$373K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.4500	−1.012%	$410K	$2.2M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4490	−1.053%	$74K	$234K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4777	+0.107%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4777	+0.107%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4755	+0.018%	$5K	—	100x	as long as short
Deribit PENDLE_USDC-PERPETUAL	+0.0356%	1h	2.4772	+0.087%	$24K	$15K	10x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.4820	+0.281%	$158K	$530K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0805%	1h	2.4849	+0.398%	$360K	$402K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1175%	1h	2.4840	+0.363%	$116K	$262K	20x	as long as short