PENDLE

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After costs, if the gap returns to its 7d average, $10k−$117

spread now−0.136%7d average−0.019%fees + slippage, in and out−$106spread needed1.055%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PENDLE-USDT	2.6485	0.0111	pay 0.0111% / 8h	1h 33m	$1.5M	$833K	75x
Short	KuCoin PENDLEUSDTM	2.6449	0.0100	get 0.0100% / 8h	1h 33m	$1.1M	$462K	50x

Price spread history

latest

Range statsloading…

share of time at each level, last 7D

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Position, each leg$Hold forhoursFee BloFinbpFee KuCoinbpOrdersClose when spread is

Slippage from BloFin: live order book, 5 min ago; KuCoin: live order book, 7 min ago.

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, 5 min ago	1.89 bp	12.3 bp −$12	33.0 bp −$330	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	8.69 bp	38.5 bp −$39	doesn't fit	doesn't fit	doesn't fit

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Injective PENDLE/USDC PERP	−1.303%	−0.3627%	1h	$4K	$51K	5.5x	as long as short
edgeX PENDLEUSDC	−0.310%	+0.0100%	4h	$26K	$415K	10x	as long as short
Variational Omni PENDLE	−0.213%	−0.0210%	8h	$868K	$2.1M	—	as long as short
ApeX Omni PENDLEUSDT	−0.196%	−0.0112%	1h	$80K	$234K	50x	as long as short
Gate PENDLE_USDT	−0.170%	−0.0032%	8h	$823K	$1.0M	75x	as long as short
Aster PENDLEUSDT	−0.144%	+0.0080%	8h	$51K	$120K	10x	as long as short
Extended PENDLE-USD	−0.141%	+0.0104%	1h	$174K	$520K	10x	as long as short
KuCoin PENDLEUSDTMshort	−0.136%	+0.0100%	8h	$1.1M	$462K	50x
Bybit PENDLEUSDT	−0.132%	−0.0182%	8h	$16.5M	$11.2M	50x	as long as short
BingX PENDLE-USDT	−0.106%	+0.0100%	8h	—	$34.1M	—	as long as short

Show all 29 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
OKX PENDLE-USDT-SWAP	−0.094%	+0.0100%	4h	$3.3M	$4.8M	50x	as long as short
Polymarket Perps PENDLE-USD	−0.094%	+0.0076%	1h	$19K	$71K	5x	as long as short
Binance PENDLEUSDT	−0.091%	+0.0100%	8h	$29.6M	$31.5M	75x	as long as short
MEXC PENDLE_USDT	−0.083%	+0.0100%	8h	$17.0M	$2.1M	125x	as long as short
Paradex PENDLE-USD-PERP	−0.083%	+0.0100%	8h	$37K	$31K	10x	as long as short
Aevo PENDLE-PERP	−0.080%	+0.0104%	1h	$28K	—	3x	as long as short
Reya PENDLERUSDPERP	−0.069%	+0.0001%	1h	$4K	—	15x	as long as short
Bitget PENDLEUSDT	−0.060%	+0.0100%	8h	$4.0M	$2.6M	75x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.057%	−0.0128%	1h	$31K	$10K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.053%	+0.0047%	8h	$21K	$4K	10x	as long as short
SunX PENDLE-USDT	−0.045%	+0.0100%	8h	$2K	$1.4M	20x	as long as short
dYdX PENDLE-USD	−0.044%	0.0000%	1h	$11K	—	5x	as long as short
Lighter PENDLE	−0.042%	+0.0096%	1h	$584K	$330K	5x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	−0.018%	L +0.0200% / S −0.0269%	1h	$5K	—	100x	as long as short
BloFin PENDLE-USDTlong	0.000%	+0.0111%	8h	$1.5M	$833K	75x
Hyperliquid PENDLE	+0.049%	+0.0100%	1h	$12.6M	$5.0M	5x	as long as short
Backpack PENDLE_USDC_PERP	+0.106%	+0.0442%	1h	$375K	$446K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.140%	+0.1454%	1h	$171K	$219K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.321%	+0.0368%	1h	$83K	$358K	25x	as long as short