Funding arb · Price arb /

PENDLE

all PENDLE markets

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 −0.009%

Price spread now: Gate against BingX+0.044%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$740.742% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 4 days (all we have)−0.070%−$7 · spread now +0.044%, 7d avg −0.007%

Together, before fees−0.089%−$9 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 0.051% dearer against BingX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PENDLE-USDT	2.5119	0.0100	pay 0.0100% / 8h	2m 36s	—	$35.7M	—
Short	Gate PENDLE_USDT	2.5130	0.0100	get 0.0100% / 8h	2m 36s	$775K	$1.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against BingX. 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 BingXbpFee GatebpOrdersPrice spread, now +0.044%Rate

Funding earned: $0
Price spread: +0.044% → −0.007%: $5.07
Slippage, 4 orders: −$49.23
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$69.16
Costs to cover: 0.742%
Break-even: never at this rate

Slippage from BingX: live order book, 11 min ago; Gate: live order book, 5 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 BingX live order book, 11 min ago	4.78 bp	13.5 bp −$14	25.6 bp −$256	214.3 bp −$21.4K	460.5 bp −$230.2K
Sell Gate live order book, 5 min ago	3.98 bp	29.0 bp −$29	189.8 bp −$1,898	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	−0.5000%	1h	2.4940	−0.713%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0266%	1h	2.5170	+0.203%	$28K	$11K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0087%	1h	2.5118	−0.004%	$77K	$239K	50x	as long as short
BloFin PENDLE-USDT	−0.0076%	8h	2.5132	+0.052%	$1.3M	$708K	75x	as long as short
Extended PENDLE-USD	−0.0072%	1h	2.5093	−0.105%	$165K	$528K	10x	as long as short
MEXC PENDLE_USDT	−0.0072%	8h	2.5114	−0.020%	$17.0M	$1.9M	125x	as long as short
Binance PENDLEUSDT	−0.0071%	8h	2.5114	−0.020%	$27.1M	$42.3M	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0010%	8h	2.5160	+0.163%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5143	+0.096%	$11K	—	5x	as long as short
GRVT PENDLE_USDT_Perp	+0.0014%	8h	2.5109	−0.040%	$425K	$1.6M	10x	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	+0.0021%	8h	2.5077	−0.169%	$596K	$1.9M	—	as long as short
Reya PENDLERUSDPERP	+0.0047%	1h	2.5151	+0.129%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.5148	+0.114%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5125	+0.024%	$530K	$416K	5x	as long as short
Aster PENDLEUSDT	+0.0099%	8h	2.5120	+0.004%	$47K	$178K	10x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5110	−0.037%	$35K	$18K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5102	−0.068%	$15.5M	$12.0M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5100	−0.076%	$3.2M	$6.0M	50x	as long as short
Gate PENDLE_USDTshort	+0.0100%	8h	2.5130	+0.044%	$775K	$1.2M	75x
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5134	+0.060%	$883K	$600K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5129	+0.040%	$3.7M	$2.5M	75x	as long as short
BingX PENDLE-USDTlong	+0.0100%	8h	2.5119	long leg	—	$35.7M	—
edgeX PENDLEUSDC	+0.0100%	4h	2.5130	+0.042%	$25K	$382K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5185	+0.263%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5158	+0.155%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5167	+0.191%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0277%	1h	2.5165	+0.183%	$12.8M	$6.2M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0596%	1h	2.5196	+0.308%	$119K	$298K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+0.880%	$141K	$449K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0694%	1h	2.5185	+0.263%	$331K	$489K	15x	as long as short