PENDLE

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After costs, if the gap returns to its 7d average, $10k−$137

spread now−0.306%7d average+0.019%fees + slippage, in and out−$105spread needed1.049%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PENDLEUSDTM	2.6456	0.0100	pay 0.0100% / 8h	1h 41m	$1.1M	$461K	50x
Short	BloFin PENDLE-USDT	2.6375	0.0086	get 0.0086% / 8h	1h 41m	$1.5M	$828K	75x

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 KuCoinbpFee BloFinbpOrdersClose when spread is

Slippage from KuCoin: live order book, 9 min ago; BloFin: live order book, 2 min ago.

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, 9 min ago	9.11 bp	42.9 bp −$43	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	0.19 bp	13.7 bp −$14	29.3 bp −$293	doesn't fit	doesn't fit

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Injective PENDLE/USDC PERP	−1.572%	−0.3627%	1h	$4K	$51K	5.5x	as long as short
Variational Omni PENDLE	−0.635%	−0.0206%	8h	$864K	$2.1M	—	as long as short
edgeX PENDLEUSDC	−0.385%	+0.0100%	4h	$26K	$417K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.325%	−0.0282%	1h	$80K	$234K	50x	as long as short
BloFin PENDLE-USDTshort	−0.306%	+0.0086%	8h	$1.5M	$828K	75x
dYdX PENDLE-USD	−0.222%	0.0000%	1h	$11K	—	5x	as long as short
Extended PENDLE-USD	−0.155%	+0.0104%	1h	$174K	$520K	10x	as long as short
Bitget PENDLEUSDT	−0.117%	+0.0100%	8h	$4.0M	$2.6M	75x	as long as short
Paradex PENDLE-USD-PERP	−0.114%	+0.0100%	8h	$37K	$31K	10x	as long as short
Bybit PENDLEUSDT	−0.098%	−0.0190%	8h	$16.5M	$11.2M	50x	as long as short

Show all 29 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
OKX PENDLE-USDT-SWAP	−0.098%	+0.0100%	4h	$3.3M	$4.7M	50x	as long as short
Binance PENDLEUSDT	−0.084%	+0.0100%	8h	$29.5M	$31.4M	75x	as long as short
MEXC PENDLE_USDT	−0.068%	+0.0100%	8h	$17.0M	$2.1M	125x	as long as short
Gate PENDLE_USDT	−0.023%	−0.0013%	8h	$835K	$1.0M	75x	as long as short
KuCoin PENDLEUSDTMlong	0.000%	+0.0100%	8h	$1.1M	$461K	50x
Aster PENDLEUSDT	+0.017%	+0.0085%	8h	$51K	$120K	10x	as long as short
SunX PENDLE-USDT	+0.038%	+0.0100%	8h	$2K	$1.4M	20x	as long as short
Polymarket Perps PENDLE-USD	+0.042%	+0.0100%	1h	$19K	$71K	5x	as long as short
Reya PENDLERUSDPERP	+0.062%	+0.0001%	1h	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.064%	+0.0047%	8h	$21K	$4K	10x	as long as short
BingX PENDLE-USDT	+0.072%	+0.0100%	8h	—	$34.1M	—	as long as short
Deribit PENDLE_USDC-PERPETUAL	+0.079%	−0.0090%	1h	$31K	$10K	10x	as long as short
Lighter PENDLE	+0.083%	+0.0096%	1h	$584K	$330K	5x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	+0.103%	L +0.0200% / S −0.0269%	1h	$5K	—	100x	as long as short
Aevo PENDLE-PERP	+0.108%	+0.0104%	1h	$28K	—	3x	as long as short
Hyperliquid PENDLE	+0.140%	+0.0100%	1h	$12.6M	$5.0M	5x	as long as short
Backpack PENDLE_USDC_PERP	+0.208%	+0.0443%	1h	$375K	$447K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.228%	+0.1454%	1h	$171K	$219K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.431%	+0.0368%	1h	$77K	$350K	25x	as long as short