Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0057%/8h= −6.2% APRpaid last 24h −0.003%

Price spread now: MEXC against edgeX−0.025%113s7-day average +0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$190.190% of the position

Long on edgeX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 on $10k

Price spread, last 3 days (all we have)−0.409%−$41 · spread now −0.025%, 7d avg +0.017%

Together, before fees−0.479%+ Points / potential airdropedgeX: Active · farm board−$48 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and MEXC is 0.042% cheaper against edgeX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.017%). Swap the legs. The two prices were read 113 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX PENDLEUSDC	2.5061	0.0100	pay 0.0050% / 4h	2h 05m	$25K	$410K	10x
Short	MEXC PENDLE_USDT	2.5055	0.0043	get 0.0043% / 8h	2h 05m	$16.9M	$2.3M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against edgeX. 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 edgeXbpFee MEXCbpOrdersPrice spread, now −0.025%Rate

Funding earned: −$11.97
Price spread: −0.025% → +0.017%: −$4.18
Slippage, 4 orders: −$6.01
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$35.16
Costs to cover: 0.190%
Break-even: never at this rate

Slippage from edgeX: live order book, 18 min ago; MEXC: live order book, 3 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 edgeX live order book, 18 min ago	1.19 bp	6.4 bp −$6	66.0 bp −$660	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.20 bp	2.8 bp −$3	22.2 bp −$222	69.1 bp −$6,914	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	−0.4806%	1h	2.4840	−0.883%	$2K	$53K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0431%	1h	2.5111	+0.197%	$149K	$275K	20x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0109%	1h	2.5068	+0.027%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5075	+0.053%	$11K	—	5x	as long as short
BloFin PENDLE-USDT	+0.0029%	8h	2.5068	+0.027%	$1.3M	$737K	75x	as long as short
Orderly PERP_PENDLE_USDC	+0.0033%	8h	2.5054	−0.029%	$25K	$11K	10x	as long as short
Reya PENDLERUSDPERP	+0.0037%	1h	2.5045	−0.066%	$4K	—	15x	as long as short
Extended PENDLE-USD	+0.0040%	1h	2.5049	−0.047%	$165K	$524K	10x	as long as short
Binance PENDLEUSDT	+0.0041%	8h	2.5055	−0.023%	$27.2M	$39.4M	75x	as long as short
MEXC PENDLE_USDTshort	+0.0043%	8h	2.5055	−0.025%	$16.9M	$2.3M	125x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PENDLE	+0.0050%	8h	2.5034	−0.107%	$616K	$2.1M	—	as long as short
ApeX Omni PENDLEUSDT	+0.0074%	1h	2.5055	−0.025%	$76K	$240K	50x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5061	0.000%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5057	−0.017%	$543K	$398K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5045	−0.064%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5081	+0.079%	$12.3M	$5.6M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5060	−0.004%	$41K	$172K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5040	−0.085%	$15.5M	$12.0M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5050	−0.045%	$3.2M	$5.7M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5050	−0.045%	$854K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5049	−0.049%	$894K	$608K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5045	−0.065%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5058	−0.013%	—	$36.3M	—	as long as short
edgeX PENDLEUSDClong	+0.0100%	4h	2.5061	long leg	$25K	$410K	10x
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5064	+0.012%	$423K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5052	−0.037%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5073	+0.047%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5062	+0.001%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5090	+0.115%	$116K	$417K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0831%	1h	2.5113	+0.206%	$362K	$460K	15x	as long as short