Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.012%

Price spread now: Paradex against ApeX Omni−0.450%50s7-day average — · you buy dearer than you sell

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

Long on ApeX Omni 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 0.450% cheaper against ApeX Omni than usual: you would sell low and buy high, −$45 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 50 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	ApeX Omni PENDLEUSDT	2.4869	0.0100	pay 0.0013% / 1h	6m 09s	$76K	$235K	50x
Short	Paradex PENDLE-USD-PERP	2.4757	0.0100	get 0.0100% / 8h	5h 06m	$35K	$15K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.450%Rate

Funding earned: $0
Price spread: −0.450% → 0.000%: −$45.01
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$59.01
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 55 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 ApeX Omni live order book, 55 min ago	6.78 bp	14.0 bp −$14	116.0 bp −$1,160	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	−0.4938%	1h	2.4720	−0.599%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0275%	1h	2.4762	−0.430%	$25K	$14K	10x	as long as short
Binance PENDLEUSDT	−0.0073%	8h	2.4737	−0.531%	$26.4M	$43.7M	75x	as long as short
Extended PENDLE-USD	−0.0072%	1h	2.4743	−0.508%	$162K	$570K	10x	as long as short
MEXC PENDLE_USDT	−0.0071%	8h	2.4747	−0.491%	$17.3M	$1.9M	125x	as long as short
BloFin PENDLE-USDT	−0.0068%	8h	2.4803	−0.265%	$1.3M	$653K	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0035%	8h	2.4761	−0.434%	$19K	$15K	10x	as long as short
Aster PENDLEUSDT	−0.0032%	8h	2.4757	−0.450%	$47K	$177K	10x	as long as short
Gate PENDLE_USDT	−0.0005%	8h	2.4760	−0.438%	$720K	$1.1M	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4798	−0.284%	$10K	—	5x	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	+0.0027%	8h	2.4745	−0.498%	$562K	$1.8M	—	as long as short
Reya PENDLERUSDPERP	+0.0061%	1h	2.4758	−0.445%	$3K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4753	−0.466%	$26K	—	3x	as long as short
GRVT PENDLE_USDT_Perp	+0.0083%	8h	2.4872	+0.012%	$411K	$1.8M	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4762	−0.430%	$528K	$418K	5x	as long as short
Paradex PENDLE-USD-PERPshort	+0.0100%	8h	2.4757	−0.450%	$35K	$15K	10x
Hyperliquid PENDLE	+0.0100%	1h	2.4798	−0.285%	$12.6M	$6.0M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4739	−0.523%	$14.7M	$12.3M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4750	−0.479%	$3.1M	$6.1M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4787	−0.330%	$838K	$574K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4754	−0.462%	$3.7M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4759	−0.442%	—	$33.5M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4874	+0.020%	$25K	$377K	10x	as long as short
ApeX Omni PENDLEUSDTlong	+0.0100%	1h	2.4869	long leg	$76K	$235K	50x
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4778	−0.366%	$16K	$8K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4750	−0.479%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0158% / S −0.0257%	1h	2.4768	−0.404%	$7K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0552%	1h	2.4890	+0.084%	$148K	$494K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0755%	1h	2.4823	−0.187%	$115K	$278K	20x	as long as short
Backpack PENDLE_USDC_PERP	+0.0758%	1h	2.4807	−0.249%	$355K	$488K	15x	as long as short