PENDLE

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After costs, if the gap returns to its 7d average, $10k−$82

spread now−0.015%7d average+0.008%fees + slippage, in and out−$80spread needed0.795%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PENDLE_USDT	2.6590	−0.0030	get 0.0030% / 8h	1h 07m	$830K	$1.0M	75x
Short	BingX PENDLE-USDT	2.6586	0.0100	get 0.0100% / 8h	1h 07m	—	$34.1M	—

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 GatebpFee BingXbpOrdersClose when spread is

Slippage from Gate: live order book, 1 min ago; BingX: live order book, 8 min ago.

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Gate live order book, 1 min ago	3.76 bp	33.2 bp −$33	151.3 bp −$1,513	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	3.23 bp	12.3 bp −$12	25.8 bp −$258	191.1 bp −$19.1K	383.9 bp −$192.0K

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Variational Omni PENDLE	−0.623%	−0.0227%	8h	$880K	$2.1M	—	as long as short
ApeX Omni PENDLEUSDT	−0.545%	+0.0002%	1h	$80K	$234K	50x	as long as short
Injective PENDLE/USDC PERP	−0.338%	−0.3627%	1h	$3K	$52K	5.5x	as long as short
edgeX PENDLEUSDC	−0.319%	+0.0100%	4h	$26K	$415K	10x	as long as short
BloFin PENDLE-USDT	−0.290%	+0.0078%	8h	$1.5M	$835K	75x	as long as short
Bybit PENDLEUSDT	−0.113%	−0.0197%	8h	$16.5M	$11.3M	50x	as long as short
Extended PENDLE-USD	−0.085%	+0.0104%	1h	$175K	$520K	10x	as long as short
OKX PENDLE-USDT-SWAP	−0.075%	+0.0100%	4h	$3.3M	$4.8M	50x	as long as short
Paradex PENDLE-USD-PERP	−0.072%	+0.0100%	8h	$37K	$31K	10x	as long as short
Polymarket Perps PENDLE-USD	−0.023%	+0.0013%	1h	$18K	$70K	5x	as long as short

Show all 29 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Orderly PERP_PENDLE_USDC	−0.023%	+0.0050%	8h	$22K	$4K	10x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	−0.016%	L +0.0200% / S −0.0269%	1h	$6K	—	100x	as long as short
Binance PENDLEUSDT	−0.015%	+0.0100%	8h	$29.6M	$31.8M	75x	as long as short
BingX PENDLE-USDTshort	−0.015%	+0.0100%	8h	—	$34.1M	—
dYdX PENDLE-USD	−0.015%	0.0000%	1h	$11K	—	5x	as long as short
Aevo PENDLE-PERP	−0.013%	+0.0104%	1h	$28K	—	3x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.011%	−0.0239%	1h	$31K	$10K	10x	as long as short
Gate PENDLE_USDTlong	0.000%	−0.0030%	8h	$830K	$1.0M	75x
MEXC PENDLE_USDT	+0.008%	+0.0100%	8h	$17.2M	$2.1M	125x	as long as short
Reya PENDLERUSDPERP	+0.008%	+0.0003%	1h	$4K	—	15x	as long as short
Bitget PENDLEUSDT	+0.019%	+0.0100%	8h	$4.0M	$2.6M	75x	as long as short
Lighter PENDLE	+0.026%	+0.0096%	1h	$587K	$337K	5x	as long as short
KuCoin PENDLEUSDTM	+0.045%	+0.0100%	8h	$1.1M	$465K	50x	as long as short
Aster PENDLEUSDT	+0.063%	+0.0071%	8h	$51K	$121K	10x	as long as short
SunX PENDLE-USDT	+0.098%	+0.0100%	8h	$1K	$1.4M	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.113%	+0.0368%	1h	$87K	$366K	25x	as long as short
Hyperliquid PENDLE	+0.173%	+0.0100%	1h	$12.6M	$5.0M	5x	as long as short
Backpack PENDLE_USDC_PERP	+0.207%	+0.0341%	1h	$377K	$445K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.288%	+0.1446%	1h	$171K	$215K	20x	as long as short