Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.009%

Price spread now: Aster against Bitget−0.029%7-day average +0.082% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$338as in the Price arb table

costs, in and out, $10k−$3273.265% of the position

Long on Bitget Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)−0.045%−$5 on $10k

Price spread, last 4 days (all we have)+0.295%+$30 · spread now −0.029%, 7d avg +0.082%

Together, before fees+0.250%+ Points / potential airdropAster: Stage 5 · farm board+$25 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: Aster is 0.110% cheaper against Bitget than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.082%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENDLEUSDT	2.4479	0.0100	pay 0.0100% / 8h	52m 44s	$3.8M	$2.4M	75x
Short	Aster PENDLEUSDT	2.4472	0.0100	get 0.0100% / 8h	52m 44s	$48K	$170K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Bitget. 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 BitgetbpFee AsterbpOrdersPrice spread, now −0.029%Rate

Funding earned: $0
Price spread: −0.029% → +0.082%: −$11.02
Slippage, 4 orders: −$306.52
Fee Bitget: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$337.54
Costs to cover: 3.265%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; Aster: live order book, 49 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 Bitget live order book, 5 min ago	3.88 bp	15.1 bp −$15	31.1 bp −$311	doesn't fit	doesn't fit
Sell Aster live order book, 49 min ago	3.27 bp	224.2 bp −$224	doesn't fit	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	−0.4810%	1h	2.4240	−0.976%	$2K	$54K	5.5x	as long as short
ApeX Omni PENDLEUSDT	−0.0536%	1h	2.4451	−0.114%	$74K	$232K	50x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0404%	1h	2.4464	−0.061%	$25K	$16K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0019%	8h	2.4455	−0.098%	$19K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4470	−0.038%	$10K	—	5x	as long as short
Extended PENDLE-USD	+0.0016%	1h	2.4459	−0.082%	$158K	$693K	10x	as long as short
MEXC PENDLE_USDT	+0.0018%	8h	2.4465	−0.057%	$17.4M	$2.0M	125x	as long as short
Binance PENDLEUSDT	+0.0019%	8h	2.4459	−0.082%	$25.8M	$45.5M	75x	as long as short
BloFin PENDLE-USDT	+0.0038%	8h	2.4445	−0.139%	$1.1M	$478K	75x	as long as short
Gate PENDLE_USDT	+0.0059%	8h	2.4480	+0.004%	$788K	$1.0M	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya PENDLERUSDPERP	+0.0082%	1h	2.4465	−0.056%	$3K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.4452	−0.110%	$26K	—	3x	as long as short
GRVT PENDLE_USDT_Perp	+0.0090%	8h	2.4473	−0.025%	$415K	$2.4M	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4473	−0.025%	$519K	$406K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4454	−0.101%	$34K	$5K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4507	+0.114%	$12.7M	$6.0M	5x	as long as short
Aster PENDLEUSDTshort	+0.0100%	8h	2.4472	−0.029%	$48K	$170K	10x
Bybit PENDLEUSDT	+0.0100%	8h	2.4447	−0.131%	$14.2M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4460	−0.078%	$3.1M	$6.7M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4478	−0.004%	$871K	$548K	50x	as long as short
Bitget PENDLEUSDTlong	+0.0100%	8h	2.4479	long leg	$3.8M	$2.4M	75x
BingX PENDLE-USDT	+0.0100%	8h	2.4466	−0.053%	—	$8.2M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4420	−0.239%	$594K	$1.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4449	−0.124%	$24K	$369K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4492	+0.053%	$16K	$4K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4500	+0.086%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4469	−0.039%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0553%	1h	2.4518	+0.159%	$350K	$434K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0672%	1h	2.4470	−0.037%	$157K	$505K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1514%	1h	2.4488	+0.036%	$116K	$261K	20x	as long as short