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: SunX against Bitget+0.136%7-day average +0.068% · you sell dearer than you buy

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

Long on Bitget Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.048%+$5 on $10k

Price spread, last 4 days (all we have)−0.113%−$11 · spread now +0.136%, 7d avg +0.068%

Together, before fees−0.065%−$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: SunX is 0.067% dearer against Bitget than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENDLEUSDT	2.4331	0.0100	pay 0.0100% / 8h	7h 56m	$3.8M	$2.5M	75x
Short	SunX PENDLE-USDT	2.4364	0.0100	get 0.0100% / 8h	7h 56m	$1K	$1.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.136%Rate

Funding earned: $0
Price spread: +0.136% → +0.068%: $6.72
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$13.28
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 1 min ago; SunX: live order book, 9 min ago. 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	3.90 bp	12.2 bp −$12	24.2 bp −$242	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	500.07 bp	doesn't fit	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	−0.3627%	1h	2.4040	−1.196%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0120%	1h	2.4339	+0.033%	$25K	$16K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0023%	1h	2.4248	−0.341%	$74K	$232K	50x	as long as short
Orderly PERP_PENDLE_USDC	−0.0012%	8h	2.4335	+0.016%	$18K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4313	−0.073%	$10K	—	5x	as long as short
Extended PENDLE-USD	+0.0008%	1h	2.4307	−0.097%	$156K	$924K	10x	as long as short
MEXC PENDLE_USDT	+0.0009%	8h	2.4319	−0.049%	$18.0M	$2.1M	125x	as long as short
Binance PENDLEUSDT	+0.0009%	8h	2.4306	−0.101%	$25.5M	$46.2M	75x	as long as short
BloFin PENDLE-USDT	+0.0024%	8h	2.4327	−0.016%	$1.1M	$504K	75x	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.4332	+0.003%	$25K	—	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya PENDLERUSDPERP	+0.0086%	1h	2.4331	−0.001%	$3K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4338	+0.029%	$524K	$429K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4307	−0.098%	$34K	$3K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4360	+0.119%	$12.7M	$6.1M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4317	−0.058%	$48K	$171K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4324	−0.029%	$14.1M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4330	−0.004%	$3.1M	$6.7M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4320	−0.045%	$769K	$990K	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4328	−0.012%	$703K	$618K	50x	as long as short
Bitget PENDLEUSDTlong	+0.0100%	8h	2.4331	long leg	$3.8M	$2.5M	75x
BingX PENDLE-USDT	+0.0100%	8h	2.4321	−0.041%	—	$8.2M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4262	−0.285%	$565K	$1.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4258	−0.302%	$24K	$367K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.4267	−0.262%	$400K	$2.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4345	+0.058%	$16K	$4K	5x	as long as short
SunX PENDLE-USDTshort	+0.0100%	8h	2.4364	+0.136%	$1K	$1.8M	20x
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4340	+0.038%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0664%	1h	2.4400	+0.284%	$159K	$513K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.1163%	1h	2.4385	+0.222%	$360K	$439K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1272%	1h	2.4394	+0.261%	$116K	$259K	20x	as long as short