Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against KuCoin−0.072%7-day average −0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$1071.068% of the position

Long on KuCoin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

Price spread, last 7 days+0.019%+$2 · spread now −0.072%, 7d avg −0.053%

Together, before fees−0.029%−$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PENDLEUSDTM	2.4952	0.0100	pay 0.0100% / 8h	5h 10m	$852K	$574K	50x
Short	Bitget PENDLEUSDT	2.4934	0.0100	get 0.0100% / 8h	5h 10m	$3.7M	$2.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against KuCoin. 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 KuCoinbpFee BitgetbpOrdersPrice spread, now −0.072%Rate

Funding earned: $0
Price spread: −0.072% → −0.053%: −$1.93
Slippage, 4 orders: −$82.81
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$108.74
Costs to cover: 1.068%
Break-even: never at this rate

Slippage from KuCoin: live order book, 33 min ago; Bitget: live order book, 2 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 KuCoin live order book, 33 min ago	9.46 bp	44.0 bp −$44	147.0 bp −$1,470	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	4.60 bp	18.6 bp −$19	47.5 bp −$475	doesn't fit	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	−0.4938%	1h	2.4720	−0.930%	$2K	$54K	5.5x	as long as short
BloFin PENDLE-USDT	−0.0081%	8h	2.4957	+0.020%	$1.3M	$654K	75x	as long as short
Binance PENDLEUSDT	−0.0074%	8h	2.4951	−0.004%	$26.7M	$43.6M	75x	as long as short
MEXC PENDLE_USDT	−0.0073%	8h	2.4954	+0.008%	$17.5M	$1.9M	125x	as long as short
Extended PENDLE-USD	−0.0072%	1h	2.4939	−0.052%	$162K	$570K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0035%	8h	2.4956	+0.016%	$19K	$15K	10x	as long as short
Aster PENDLEUSDT	−0.0024%	8h	2.4936	−0.064%	$47K	$177K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4936	−0.066%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4964	+0.048%	$26K	$14K	10x	as long as short
Variational Omni PENDLE	+0.0023%	8h	2.4940	−0.048%	$566K	$1.8M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENDLE_USDT	+0.0060%	8h	2.4930	−0.088%	$721K	$1.1M	75x	as long as short
Reya PENDLERUSDPERP	+0.0061%	1h	2.4954	+0.008%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4943	−0.034%	$26K	—	3x	as long as short
GRVT PENDLE_USDT_Perp	+0.0082%	8h	2.4986	+0.136%	$419K	$1.8M	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4955	+0.012%	$533K	$418K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4939	−0.051%	$35K	$15K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4997	+0.180%	$12.7M	$6.0M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4944	−0.032%	$14.9M	$12.3M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4950	−0.008%	$3.1M	$6.2M	50x	as long as short
KuCoin PENDLEUSDTMlong	+0.0100%	8h	2.4952	long leg	$852K	$574K	50x
Bitget PENDLEUSDTshort	+0.0100%	8h	2.4934	−0.072%	$3.7M	$2.4M	75x
BingX PENDLE-USDT	+0.0100%	8h	2.4953	+0.004%	—	$33.5M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4977	+0.101%	$25K	$376K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4992	+0.160%	$76K	$235K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4979	+0.108%	$16K	$8K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4952	0.000%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0158% / S −0.0257%	1h	2.4955	+0.013%	$7K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0552%	1h	2.4980	+0.112%	$148K	$496K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0750%	1h	2.4989	+0.150%	$116K	$278K	20x	as long as short
Backpack PENDLE_USDC_PERP	+0.0797%	1h	2.5007	+0.220%	$361K	$488K	15x	as long as short