Funding arb · Price arb /

PENDLE

all PENDLE markets

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 0.000%

Price spread now: BingX against Bitget+0.176%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$660.658% of the position

Long on Bitget Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 7 days−0.075%−$8 · spread now +0.176%, 7d avg +0.047%

Together, before fees−0.060%−$6 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: BingX is 0.128% dearer against Bitget than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENDLEUSDT	2.4493	0.0100	pay 0.0100% / 8h	2h 21m	$3.6M	$2.3M	75x
Short	BingX PENDLE-USDT	2.4536	0.0100	get 0.0100% / 8h	2h 21m	—	$8.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.176%Rate

Funding earned: $0
Price spread: +0.176% → +0.047%: $12.83
Slippage, 4 orders: −$43.85
Fee Bitget: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$53.02
Costs to cover: 0.658%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; BingX: live order book, 2 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, 1 min ago	4.90 bp	17.8 bp −$18	33.1 bp −$331	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	4.49 bp	13.5 bp −$14	32.5 bp −$325	207.0 bp −$20.7K	448.0 bp −$224.0K

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	−0.3926%	1h	2.4200	−1.196%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0076%	1h	2.4501	+0.033%	$24K	$15K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0035%	8h	2.4495	+0.008%	$19K	$15K	10x	as long as short
Gate PENDLE_USDT	−0.0022%	8h	2.4530	+0.151%	$720K	$1.1M	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4498	+0.020%	$10K	—	5x	as long as short
Extended PENDLE-USD	+0.0024%	1h	2.4486	−0.029%	$157K	$577K	10x	as long as short
MEXC PENDLE_USDT	+0.0026%	8h	2.4524	+0.127%	$17.4M	$2.0M	125x	as long as short
Binance PENDLEUSDT	+0.0026%	8h	2.4501	+0.034%	$25.8M	$44.3M	75x	as long as short
BloFin PENDLE-USDT	+0.0032%	8h	2.4483	−0.041%	$1.1M	$601K	75x	as long as short
Reya PENDLERUSDPERP	+0.0075%	1h	2.4529	+0.146%	$3K	—	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PENDLE-PERP	+0.0088%	1h	2.4493	0.000%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4530	+0.151%	$517K	$416K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4519	+0.108%	$34K	$9K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4573	+0.327%	$12.7M	$6.1M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4503	+0.039%	$46K	$171K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4501	+0.033%	$14.3M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4510	+0.069%	$3.1M	$6.5M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4508	+0.061%	$864K	$555K	50x	as long as short
Bitget PENDLEUSDTlong	+0.0100%	8h	2.4493	long leg	$3.6M	$2.3M	75x
BingX PENDLE-USDTshort	+0.0100%	8h	2.4536	+0.176%	—	$8.4M	—
Variational Omni PENDLE	+0.0100%	8h	2.4441	−0.212%	$549K	$1.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4478	−0.060%	$24K	$372K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.4500	+0.029%	$410K	$2.2M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4490	−0.012%	$74K	$234K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4548	+0.225%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4499	+0.024%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4509	+0.065%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.4570	+0.314%	$155K	$524K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0729%	1h	2.4563	+0.286%	$356K	$401K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1189%	1h	2.4536	+0.174%	$115K	$262K	20x	as long as short