Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: edgeX against KuCoin−0.187%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$114as in the Funding arb table

Net, price: spread back to 7d avg − costs−$132as in the Price arb table

costs, in and out, $10k−$1141.143% of the position

Long on KuCoin Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.452%+$45 · spread now −0.187%, 7d avg −0.009%

Together, before fees+0.452%+ Points / potential airdropedgeX: Active · farm board+$45 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: edgeX is 0.178% cheaper against KuCoin than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PENDLEUSDTM	2.4532	0.0100	pay 0.0100% / 8h	1h 48m	$878K	$559K	50x
Short	edgeX PENDLEUSDC	2.4486	0.0100	get 0.0050% / 4h	1h 48m	$24K	$371K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.187%Rate

Funding earned: $0
Price spread: −0.187% → −0.009%: −$17.81
Slippage, 4 orders: −$93.34
Fee KuCoin: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$132.15
Costs to cover: 1.143%
Break-even: never at this rate

Slippage from KuCoin: live order book, 40 min ago; edgeX: live order book, 60 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, 40 min ago	7.15 bp	50.6 bp −$51	149.9 bp −$1,499	doesn't fit	doesn't fit
Sell edgeX live order book, 60 min ago	1.63 bp	6.3 bp −$6	65.9 bp −$659	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	−0.4348%	1h	2.4250	−1.150%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0321%	1h	2.4513	−0.077%	$25K	$16K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0033%	8h	2.4505	−0.110%	$19K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4550	+0.072%	$10K	—	5x	as long as short
Gate PENDLE_USDT	+0.0006%	8h	2.4530	−0.008%	$749K	$1.0M	75x	as long as short
MEXC PENDLE_USDT	+0.0031%	8h	2.4505	−0.110%	$17.5M	$2.0M	125x	as long as short
Extended PENDLE-USD	+0.0032%	1h	2.4496	−0.147%	$160K	$575K	10x	as long as short
Binance PENDLEUSDT	+0.0033%	8h	2.4502	−0.122%	$25.8M	$45.0M	75x	as long as short
ApeX Omni PENDLEUSDT	+0.0040%	1h	2.4504	−0.114%	$75K	$232K	50x	as long as short
BloFin PENDLE-USDT	+0.0042%	8h	2.4496	−0.147%	$1.1M	$498K	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya PENDLERUSDPERP	+0.0077%	1h	2.4508	−0.100%	$3K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.4503	−0.117%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4510	−0.090%	$519K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4508	−0.097%	$34K	$7K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4549	+0.069%	$12.8M	$6.1M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4525	−0.030%	$47K	$170K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4500	−0.130%	$14.3M	$12.3M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4520	−0.049%	$3.1M	$6.6M	50x	as long as short
KuCoin PENDLEUSDTMlong	+0.0100%	8h	2.4532	long leg	$878K	$559K	50x
Bitget PENDLEUSDT	+0.0100%	8h	2.4508	−0.098%	$3.8M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4523	−0.037%	—	$8.4M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4506	−0.106%	$565K	$1.4M	—	as long as short
edgeX PENDLEUSDCshort	+0.0100%	4h	2.4486	−0.187%	$24K	$371K	10x
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.4512	−0.082%	$416K	$2.3M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4528	−0.016%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4518	−0.057%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4514	−0.074%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0652%	1h	2.4565	+0.135%	$349K	$434K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0688%	1h	2.4580	+0.196%	$161K	$527K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1659%	1h	2.4564	+0.132%	$115K	$262K	20x	as long as short