Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0158%/8h= +17.3% APRpaid last 24h +0.014%

Price spread now: edgeX against ApeX Omni+0.007%7-day average −0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$420.423% of the position

Long on ApeX Omni Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.145%+$14 on $10k

Price spread, last 4 days (all we have)+0.027%+$3 · spread now +0.007%, 7d avg −0.065%

Together, before fees+0.171%+ Points / potential airdropedgeX: Active · farm board+$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and edgeX is 0.072% dearer against ApeX Omni than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PENDLEUSDT	2.4386	−0.0058	get 0.0007% / 1h	18m 29s	$74K	$231K	50x
Short	edgeX PENDLEUSDC	2.4388	0.0100	get 0.0050% / 4h	2h 18m	$23K	$369K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against ApeX Omni. 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 ApeX OmnibpFee edgeXbpOrdersPrice spread, now +0.007%Rate

Funding earned: $33.15
Price spread: +0.007% → −0.065%: $7.22
Slippage, 4 orders: −$23.3
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$1.94
Costs to cover: 0.423%
Break-even: 7.4 days

Slippage from ApeX Omni: live order book, 31 min ago; edgeX: live order book, 33 min ago.

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 ApeX Omni live order book, 31 min ago	6.78 bp	14.3 bp −$14	101.7 bp −$1,017	doesn't fit	doesn't fit
Sell edgeX live order book, 33 min ago	1.64 bp	6.6 bp −$7	47.0 bp −$470	doesn't fit	doesn't fit

PENDLE on 30 exchanges

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	2.4660	+1.124%	$2K	$55K	5.5x	as long as short
BloFin PENDLE-USDT	−0.0096%	8h	2.4381	−0.021%	$1.1M	$517K	75x	as long as short
Extended PENDLE-USD	−0.0080%	1h	2.4370	−0.067%	$162K	$936K	10x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0077%	1h	2.4405	+0.078%	$121K	$252K	20x	as long as short
Binance PENDLEUSDT	−0.0076%	8h	2.4373	−0.053%	$25.5M	$46.6M	75x	as long as short
MEXC PENDLE_USDT	−0.0076%	8h	2.4378	−0.033%	$18.5M	$2.2M	125x	as long as short
ApeX Omni PENDLEUSDTlong	−0.0058%	1h	2.4386	long leg	$74K	$231K	50x
GRVT PENDLE_USDT_Perp	−0.0001%	8h	2.4406	+0.081%	$403K	$2.9M	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4400	+0.058%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4389	+0.012%	$25K	$12K	10x	as long as short

Show all 30 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PENDLE_USDC	+0.0009%	8h	2.4374	−0.049%	$18K	$14K	10x	as long as short
Aster PENDLEUSDT	+0.0015%	8h	2.4403	+0.071%	$50K	$167K	10x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4371	−0.064%	$25K	—	3x	as long as short
Variational Omni PENDLE	+0.0076%	8h	2.4355	−0.127%	$573K	$1.1M	—	as long as short
Reya PENDLERUSDPERP	+0.0094%	1h	2.4382	−0.016%	$3K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4402	+0.066%	$656K	$512K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4359	−0.112%	$34K	$1K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4352	−0.139%	$14.2M	$11.6M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4370	−0.066%	$3.1M	$6.8M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4380	−0.025%	$771K	$967K	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4407	+0.086%	$685K	$502K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4385	−0.004%	$3.8M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4373	−0.053%	—	$8.3M	—	as long as short
edgeX PENDLEUSDCshort	+0.0100%	4h	2.4388	+0.007%	$23K	$369K	10x
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4412	+0.107%	$16K	$4K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4385	−0.004%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0184% / S −0.0207%	1h	2.4380	−0.023%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0436%	1h	2.4436	+0.205%	$13.0M	$6.0M	5x	as long as short
Backpack PENDLE_USDC_PERP	+0.0629%	1h	2.4426	+0.164%	$365K	$420K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0728%	1h	2.4400	+0.057%	$166K	$538K	25x	as long as short