Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: Gate against Aster+0.065%7-day average −0.061% · 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−$168as in the Price arb table

costs, in and out, $10k−$1801.804% of the position

Long on Aster Short on Gate

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.038%+$4 on $10k

Price spread, last 4 days (all we have)−0.278%−$28 · spread now +0.065%, 7d avg −0.061%

Together, before fees−0.241%+ Points / potential airdropAster: Stage 5 · farm board−$24 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.125% dearer against Aster than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.061%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENDLEUSDT	2.5164	0.0100	pay 0.0100% / 8h	2h 37m	$41K	$177K	10x
Short	Gate PENDLE_USDT	2.5180	0.0100	get 0.0100% / 8h	2h 37m	$847K	$1.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.065%Rate

Funding earned: $0
Price spread: +0.065% → −0.061%: $12.54
Slippage, 4 orders: −$157.35
Fee Aster: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$167.81
Costs to cover: 1.804%
Break-even: never at this rate

Slippage from Aster: live order book, 48 min ago; Gate: live order book, 4 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, 48 min ago	8.44 bp	107.7 bp −$108	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	1.99 bp	21.5 bp −$21	200.3 bp −$2,003	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	−0.4806%	1h	2.4860	−1.207%	$2K	$7K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0429%	1h	2.5214	+0.199%	$150K	$279K	20x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5179	+0.062%	$11K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.5180	+0.065%	$30K	$10K	10x	as long as short
Variational Omni PENDLE	+0.0019%	8h	2.5180	+0.065%	$609K	$2.3M	—	as long as short
Reya PENDLERUSDPERP	+0.0035%	1h	2.5166	+0.007%	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.0036%	8h	2.5169	+0.021%	$23K	$8K	10x	as long as short
Extended PENDLE-USD	+0.0040%	1h	2.5164	+0.003%	$165K	$524K	10x	as long as short
Binance PENDLEUSDT	+0.0042%	8h	2.5180	+0.066%	$27.5M	$39.1M	75x	as long as short
MEXC PENDLE_USDT	+0.0043%	8h	2.5181	+0.069%	$16.9M	$2.2M	125x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin PENDLE-USDT	+0.0070%	8h	2.5144	−0.078%	$1.3M	$743K	75x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5159	−0.017%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5172	+0.033%	$544K	$385K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5148	−0.062%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5198	+0.136%	$12.4M	$5.6M	5x	as long as short
Aster PENDLEUSDTlong	+0.0100%	8h	2.5164	long leg	$41K	$177K	10x
Bybit PENDLEUSDT	+0.0100%	8h	2.5160	−0.015%	$15.6M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5190	+0.104%	$3.3M	$5.7M	50x	as long as short
Gate PENDLE_USDTshort	+0.0100%	8h	2.5180	+0.065%	$847K	$1.1M	75x
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5187	+0.093%	$913K	$608K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5156	−0.031%	$3.7M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5162	−0.007%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5192	+0.113%	$25K	$411K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5192	+0.112%	$416K	$1.6M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.5192	+0.112%	$77K	$240K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5183	+0.077%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5162	−0.007%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5180	+0.063%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5220	+0.224%	$117K	$433K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0817%	1h	2.5218	+0.216%	$365K	$465K	15x	as long as short