Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0172%/8h= +18.8% APRpaid last 24h +0.021%

Price spread now: Paradex against Extended+0.225%7-day average — · you sell dearer than you buy

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

Long on Extended 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 airdropExtended: Active · Paradex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Paradex is 0.225% dearer against Extended than usual: you sell high and buy low: +$22 more if the spread 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	Extended PENDLE-USD	2.4526	−0.0072	get 0.0009% / 1h	55m 59s	$163K	$938K	10x
Short	Paradex PENDLE-USD-PERP	2.4581	0.0100	get 0.0100% / 8h	6h 55m	$34K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Extended. 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 ExtendedbpFee ParadexbpOrdersPrice spread, now +0.225%Rate

Funding earned: $36.12
Price spread: +0.225% → 0.000%: $22.49
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Paradex: 2 bp × 2 orders: −$4
Net: $49.61
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Extended: live order book, 37 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 Extended live order book, 37 min ago	1.03 bp	15.4 bp −$15	106.4 bp −$1,064	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	−0.5000%	1h	2.3930	−2.430%	$2K	$55K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0077%	1h	2.4584	+0.236%	$116K	$252K	20x	as long as short
Extended PENDLE-USDlong	−0.0072%	1h	2.4526	long leg	$163K	$938K	10x
Binance PENDLEUSDT	−0.0071%	8h	2.4517	−0.036%	$25.7M	$47.0M	75x	as long as short
MEXC PENDLE_USDT	−0.0071%	8h	2.4530	+0.017%	$18.7M	$2.1M	125x	as long as short
GRVT PENDLE_USDT_Perp	−0.0051%	8h	2.4560	+0.140%	$414K	$2.8M	10x	as long as short
BloFin PENDLE-USDT	−0.0046%	8h	2.4614	+0.359%	$1.1M	$520K	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0003%	8h	2.4577	+0.208%	$19K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4636	+0.447%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4585	+0.241%	$25K	$13K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENDLEUSDT	+0.0034%	8h	2.4563	+0.152%	$50K	$176K	10x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4576	+0.205%	$26K	—	3x	as long as short
Variational Omni PENDLE	+0.0086%	8h	2.4555	+0.120%	$585K	$1.2M	—	as long as short
Reya PENDLERUSDPERP	+0.0091%	1h	2.4594	+0.276%	$3K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4604	+0.318%	$531K	$376K	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4490	−0.146%	$14.3M	$11.9M	50x	as long as short
Paradex PENDLE-USD-PERPshort	+0.0100%	8h	2.4581	+0.225%	$34K	$1K	10x
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4490	−0.146%	$3.1M	$6.8M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4570	+0.180%	$779K	$954K	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4592	+0.270%	$684K	$598K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4560	+0.139%	$3.9M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4559	+0.135%	—	$8.2M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4633	+0.436%	$23K	$368K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4567	+0.168%	$75K	$230K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4600	+0.302%	$16K	$4K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4592	+0.270%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0151% / S −0.0168%	1h	2.4586	+0.246%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0534%	1h	2.4635	+0.445%	$13.1M	$6.1M	5x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0728%	1h	2.4650	+0.506%	$170K	$540K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0898%	1h	2.4631	+0.429%	$366K	$433K	15x	as long as short