Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0209%/8h= −22.9% APRpaid last 24h +0.008%

Price spread now: ApeX Omni against Aster+0.075%89s7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$3363.364% of the position

Long on Aster Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.048%−$5 on $10k

Price spread, last 3 days (all we have)+0.293%+$29 · spread now +0.075%, 7d avg +0.035%

Together, before fees+0.245%+ Points / potential airdropAster: Stage 5 · farm board+$25 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.040% dearer against Aster than usual: you sell high and buy low (spread +0.075% now, against its 7-day average of +0.035%): +$4 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 15 hours. At the pace of the last 5 days (−0.048% in total) that is about 4.4 days. The two prices were read 89 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid -0.048% in total (about -3.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENDLEUSDT	2.4929	0.0100	pay 0.0100% / 8h	1h 30m	$43K	$173K	10x
Short	ApeX Omni PENDLEUSDT	2.4948	−0.0109	pay 0.0014% / 1h	30m 07s	$76K	$240K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Aster. 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 AsterbpFee ApeX OmnibpOrdersPrice spread, now +0.075%Rate

Funding earned: −$43.83
Price spread: +0.075% → +0.035%: $4
Slippage, 4 orders: −$318.35
Fee Aster: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$376.18
Costs to cover: 3.364%
Break-even: never at this rate

Slippage from Aster: live order book, 51 min ago; ApeX Omni: live order book, 51 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 Aster live order book, 51 min ago	11.09 bp	181.2 bp −$181	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 51 min ago	3.37 bp	11.6 bp −$12	97.6 bp −$976	doesn't fit	doesn't fit

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	−0.639%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0151%	1h	2.4919	−0.041%	$29K	$10K	10x	as long as short
ApeX Omni PENDLEUSDTshort	−0.0109%	1h	2.4948	+0.075%	$76K	$240K	50x
dYdX PENDLE-USD	0.0000%	1h	2.4929	−0.002%	$10K	—	5x	as long as short
Extended PENDLE-USD	+0.0008%	1h	2.4917	−0.048%	$164K	$526K	10x	as long as short
Binance PENDLEUSDT	+0.0011%	8h	2.4917	−0.051%	$27.0M	$40.4M	75x	as long as short
MEXC PENDLE_USDT	+0.0011%	8h	2.4917	−0.049%	$16.8M	$2.1M	125x	as long as short
BloFin PENDLE-USDT	+0.0014%	8h	2.4895	−0.137%	$1.3M	$733K	75x	as long as short
Orderly PERP_PENDLE_USDC	+0.0022%	8h	2.4919	−0.041%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0040%	1h	2.4911	−0.072%	$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	+0.0062%	8h	2.4902	−0.110%	$550K	$2.0M	—	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.4898	−0.125%	$26K	—	3x	as long as short
GRVT PENDLE_USDT_Perp	+0.0092%	8h	2.4914	−0.062%	$419K	$1.6M	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4912	−0.069%	$524K	$423K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4892	−0.149%	$35K	$20K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4956	+0.107%	$12.4M	$5.9M	5x	as long as short
Aster PENDLEUSDTlong	+0.0100%	8h	2.4929	long leg	$43K	$173K	10x
Bybit PENDLEUSDT	+0.0100%	8h	2.4900	−0.117%	$15.3M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4910	−0.077%	$3.2M	$5.8M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4890	−0.158%	$781K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4913	−0.065%	$891K	$613K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4908	−0.085%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4913	−0.065%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4935	+0.023%	$25K	$412K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4933	+0.015%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4939	+0.039%	$1K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.4926	−0.014%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5010	+0.324%	$139K	$461K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0671%	1h	2.4960	+0.123%	$354K	$473K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0755%	1h	2.4964	+0.141%	$129K	$295K	20x	as long as short