Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Paradex against edgeX−0.064%7-day average — · you buy dearer than you sell

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

Long on edgeX 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 airdropedgeX: Active · Paradex: 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 0.064% cheaper against edgeX than usual: you would sell low and buy high, −$6 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	edgeX PENDLEUSDC	2.5061	0.0100	pay 0.0050% / 4h	2h 05m	$25K	$410K	10x
Short	Paradex PENDLE-USD-PERP	2.5045	0.0100	get 0.0100% / 8h	2h 05m	$35K	$22K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.064%Rate

Funding earned: $0
Price spread: −0.064% → 0.000%: −$6.4
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$19.4
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 18 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 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 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 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	−0.0432%	1h	2.5039	−0.088%	$149K	$275K	20x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0309%	1h	2.5048	−0.053%	$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	2.5039	−0.089%	$1.3M	$737K	75x	as long as short
Orderly PERP_PENDLE_USDC	+0.0033%	8h	2.5048	−0.053%	$25K	$11K	10x	as long as short
Reya PENDLERUSDPERP	+0.0037%	1h	2.5042	−0.079%	$4K	—	15x	as long as short
Extended PENDLE-USD	+0.0040%	1h	2.5024	−0.149%	$165K	$524K	10x	as long as short
Binance PENDLEUSDT	+0.0041%	8h	2.5020	−0.165%	$27.2M	$39.4M	75x	as long as short
MEXC PENDLE_USDT	+0.0043%	8h	2.5037	−0.097%	$16.9M	$2.3M	125x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PENDLE	+0.0048%	8h	2.4994	−0.269%	$615K	$2.1M	—	as long as short
ApeX Omni PENDLEUSDT	+0.0087%	1h	2.5083	+0.087%	$77K	$240K	50x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5049	−0.049%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5041	−0.081%	$542K	$398K	5x	as long as short
Paradex PENDLE-USD-PERPshort	+0.0100%	8h	2.5045	−0.064%	$35K	$22K	10x
Hyperliquid PENDLE	+0.0100%	1h	2.5067	+0.023%	$12.3M	$5.6M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5055	−0.027%	$41K	$172K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5020	−0.165%	$15.5M	$12.0M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5040	−0.085%	$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	2.5059	−0.009%	$894K	$608K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5028	−0.133%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5040	−0.085%	—	$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	2.5069	+0.031%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5049	−0.049%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5057	−0.018%	$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	+0.0828%	1h	2.5098	+0.147%	$362K	$460K	15x	as long as short