Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0118%/8h= +12.9% APRpaid last 24h +0.018%

Price spread now: edgeX against BloFin−0.042%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$360.357% of the position

Long on BloFin Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.086%+$9 on $10k

Price spread, last 4 days (all we have)−0.002%$0 · spread now −0.042%, 7d avg −0.024%

Together, before fees+0.084%+ Points / potential airdropedgeX: Active · farm board+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.024%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PENDLE-USDT	2.4193	−0.0018	get 0.0018% / 8h	20m 47s	$1.1M	$501K	75x
Short	edgeX PENDLEUSDC	2.4183	0.0100	get 0.0050% / 4h	20m 47s	$24K	$369K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against BloFin. 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 BloFinbpFee edgeXbpOrdersPrice spread, now −0.042%Rate

Funding earned: $24.73
Price spread: −0.042% → −0.024%: −$1.8
Slippage, 4 orders: −$14.65
Fee BloFin: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$12.72
Costs to cover: 0.357%
Break-even: 10.6 days

Slippage from BloFin: live order book, 1 min ago; edgeX: live order book, 18 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 BloFin live order book, 1 min ago	0.62 bp	11.6 bp −$12	21.3 bp −$213	doesn't fit	doesn't fit
Sell edgeX live order book, 18 min ago	1.23 bp	6.5 bp −$6	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	2.3940	−1.046%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0122%	1h	2.4197	+0.017%	$24K	$16K	10x	as long as short
BloFin PENDLE-USDTlong	−0.0018%	8h	2.4193	long leg	$1.1M	$501K	75x
Orderly PERP_PENDLE_USDC	−0.0015%	8h	2.4187	−0.025%	$18K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4199	+0.024%	$10K	—	5x	as long as short
MEXC PENDLE_USDT	+0.0005%	8h	2.4199	+0.025%	$17.9M	$2.1M	125x	as long as short
Binance PENDLEUSDT	+0.0005%	8h	2.4200	+0.029%	$25.4M	$46.0M	75x	as long as short
Extended PENDLE-USD	+0.0008%	1h	2.4189	−0.017%	$157K	$927K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0062%	1h	2.4193	0.000%	$74K	$231K	50x	as long as short
Gate PENDLE_USDT	+0.0069%	8h	2.4200	+0.029%	$758K	$1.1M	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT PENDLE_USDT_Perp	+0.0078%	8h	2.4192	−0.005%	$408K	$2.5M	10x	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.4190	−0.011%	$25K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0084%	1h	2.4195	+0.009%	$3K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4210	+0.070%	$521K	$432K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4200	+0.029%	$34K	$5K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4236	+0.178%	$12.7M	$6.1M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4214	+0.087%	$47K	$171K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4195	+0.008%	$14.1M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4220	+0.112%	$3.1M	$6.7M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4194	+0.004%	$719K	$617K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4200	+0.029%	$3.7M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4203	+0.041%	—	$8.2M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4181	−0.051%	$562K	$1.3M	—	as long as short
edgeX PENDLEUSDCshort	+0.0100%	4h	2.4183	−0.042%	$24K	$369K	10x
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4226	+0.136%	$16K	$4K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4224	+0.128%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4206	+0.055%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0607%	1h	2.4252	+0.244%	$350K	$435K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0672%	1h	2.4230	+0.153%	$156K	$505K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1529%	1h	2.4253	+0.247%	$115K	$263K	20x	as long as short