Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Paradex against Bitget−0.084%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.084% cheaper against Bitget than usual: you would sell low and buy high, −$8 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENDLEUSDT	2.4419	0.0100	pay 0.0100% / 8h	6h 20m	$3.8M	$2.4M	75x
Short	Paradex PENDLE-USD-PERP	2.4399	0.0100	get 0.0100% / 8h	6h 20m	$34K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.084%Rate

Funding earned: $0
Price spread: −0.084% → 0.000%: −$8.38
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$24.38
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 1 min ago; Paradex: no order-book sample. Net counts fees only.

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	0.20 bp	16.6 bp −$17	37.4 bp −$374	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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 on 30 exchanges

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	2.4660	+0.987%	$2K	$55K	5.5x	as long as short
ApeX Omni PENDLEUSDT	−0.0093%	1h	2.4388	−0.127%	$74K	$231K	50x	as long as short
Extended PENDLE-USD	−0.0080%	1h	2.4404	−0.061%	$162K	$936K	10x	as long as short
MEXC PENDLE_USDT	−0.0079%	8h	2.4400	−0.078%	$18.5M	$2.2M	125x	as long as short
Binance PENDLEUSDT	−0.0077%	8h	2.4414	−0.019%	$25.5M	$46.7M	75x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0077%	1h	2.4452	+0.136%	$121K	$252K	20x	as long as short
BloFin PENDLE-USDT	−0.0069%	8h	2.4397	−0.090%	$1.1M	$518K	75x	as long as short
GRVT PENDLE_USDT_Perp	−0.0001%	8h	2.4406	−0.055%	$403K	$2.9M	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4421	+0.009%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4422	+0.012%	$25K	$12K	10x	as long as short

Show all 30 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PENDLE_USDC	+0.0009%	8h	2.4423	+0.016%	$18K	$14K	10x	as long as short
Aster PENDLEUSDT	+0.0015%	8h	2.4415	−0.016%	$50K	$167K	10x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4405	−0.057%	$26K	—	3x	as long as short
Variational Omni PENDLE	+0.0076%	8h	2.4355	−0.262%	$573K	$1.1M	—	as long as short
Reya PENDLERUSDPERP	+0.0094%	1h	2.4422	+0.011%	$3K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4434	+0.061%	$657K	$512K	5x	as long as short
Paradex PENDLE-USD-PERPshort	+0.0100%	8h	2.4399	−0.084%	$34K	$1K	10x
Bybit PENDLEUSDT	+0.0100%	8h	2.4380	−0.160%	$14.2M	$11.6M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4390	−0.119%	$3.1M	$6.8M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4420	+0.004%	$772K	$967K	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4411	−0.033%	$686K	$502K	50x	as long as short
Bitget PENDLEUSDTlong	+0.0100%	8h	2.4419	long leg	$3.8M	$2.4M	75x
BingX PENDLE-USDT	+0.0100%	8h	2.4409	−0.041%	—	$8.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4381	−0.157%	$23K	$369K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4453	+0.139%	$16K	$4K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4437	+0.074%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0184% / S −0.0207%	1h	2.4419	−0.002%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0422%	1h	2.4476	+0.233%	$13.0M	$6.0M	5x	as long as short
Backpack PENDLE_USDC_PERP	+0.0621%	1h	2.4460	+0.168%	$365K	$420K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0728%	1h	2.4430	+0.045%	$167K	$538K	25x	as long as short