Spread before costs (cost unknown: a leg has no order-book sample)−0.034%
7d average—if it closes, per $10,000$3funding while held, a day−$9.82
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack PENDLE_USDC_PERP | 2.6530 | 0.0332 | pay 0.0042% / 1h | 9m 15s | $375K | $445K | 15x |
| Short | Polymarket Perps PENDLE-USD | 2.6521 | 0.0005 | get 0.0001% / 1h | 9m 15s | $18K | $70K | 5x |
Backpack PENDLE_USDC_PERP
Polymarket Perps PENDLE-USDPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- −$3.39
- Funding while held
- −$9.82
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$31.21
- Spread needed to break even
- 0.180%
Slippage unknown: Backpack: live order book, 46 min ago; Polymarket Perps: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0327%
- Per $10,000 a day
- −$9.82
- Average in range /8h
- —
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 Backpack live order book, 46 min ago | 2.06 bp | 11.3 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Polymarket Perps no order-book sample | — | — | — | — | — |
Polymarket Perps: 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 price on every exchange
against the cheapest. Click to use as the short leg.edgeX2.6393cheapestVariational Omni2.6424+0.120%ApeX Omni2.6445+0.199%Injective2.6500+0.407%Paradex2.6505+0.425%Extended2.6508+0.439%OKX2.6510+0.445%BloFin2.6513+0.456%dYdX2.6514+0.459%Gate2.6520+0.483%Coinbase International2.6520+0.483%
Variational Omni
ApeX Omni
Injective
Paradex
Extended
OKX
BloFin
dYdX
Gate
Coinbase InternationalPolymarket Perps2.6521+0.487%
Bybit2.6522+0.490%Aster2.6522+0.491%Aevo2.6523+0.494%Orderly2.6524+0.498%
Bybit
Aster
Aevo
OrderlyBackpack2.6530+0.521%
Bitget2.6531+0.524%Deribit2.6535+0.540%Binance2.6537+0.547%Lighter2.6538+0.551%Reya2.6539+0.553%BingX2.6539+0.555%MEXC2.6543+0.570%GMX2.6546+0.582%SunX2.6551+0.600%KuCoin2.6554+0.612%Hyperliquid2.6565+0.653%Kraken Futures2.6593+0.759%
Bitget
Deribit
Binance
Lighter
Reya
BingX
MEXC
GMX
SunX
KuCoin
Hyperliquid
Kraken FuturesPENDLE on 29 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| edgeX PENDLEUSDC | −0.518% | +0.0100% | 4h | $26K | $414K | 10x | as long as short |
| Variational Omni PENDLE | −0.398% | −0.0227% | 8h | $880K | $2.1M | — | as long as short |
| ApeX Omni PENDLEUSDT | −0.320% | +0.0002% | 1h | $80K | $234K | 50x | as long as short |
| Injective PENDLE/USDC PERP | −0.113% | −0.3627% | 1h | $3K | $52K | 5.5x | as long as short |
| Paradex PENDLE-USD-PERP | −0.095% | +0.0100% | 8h | $37K | $31K | 10x | as long as short |
| Extended PENDLE-USD | −0.081% | +0.0104% | 1h | $175K | $520K | 10x | as long as short |
| OKX PENDLE-USDT-SWAP | −0.075% | +0.0100% | 4h | $3.3M | $4.8M | 50x | as long as short |
| BloFin PENDLE-USDT | −0.064% | +0.0078% | 8h | $1.5M | $835K | 75x | as long as short |
| dYdX PENDLE-USD | −0.061% | 0.0000% | 1h | $11K | — | 5x | as long as short |
| Gate PENDLE_USDT | −0.038% | −0.0033% | 8h | $827K | $1.0M | 75x | as long as short |