Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0157%/8h= +17.2% APRpaid last 24h +0.005%

Price spread now: ApeX Omni against MEXC−0.077%7-day average +0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$410.415% of the position

Long on MEXC Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.067%−$7 on $10k

Price spread, last 4 days (all we have)+0.478%+$48 · spread now −0.077%, 7d avg +0.050%

Together, before fees+0.411%+$41 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.128% cheaper against MEXC than usual: you would sell low and buy high (spread −0.077% now, against its 7-day average of +0.050%). If the spread goes back, that is −$13 on $10k: about 2.7 days of funding at the current rate (+$5 a day). Mind the row above: over the last 7 days funding on this pair cost −0.067%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PENDLE_USDT	2.4632	−0.0057	get 0.0057% / 8h	4h 17m	$17.3M	$2.0M	125x
Short	ApeX Omni PENDLEUSDT	2.4613	0.0100	get 0.0013% / 1h	17m 00s	$75K	$235K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against MEXC. 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 MEXCbpFee ApeX OmnibpOrdersPrice spread, now −0.077%Rate

Funding earned: $32.97
Price spread: −0.077% → +0.050%: −$12.76
Slippage, 4 orders: −$27.46
Fee MEXC: 2 bp × 2 orders: −$4
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$21.25
Costs to cover: 0.415%
Break-even: 11.5 days

Slippage from MEXC: live order book, 2 min ago; ApeX Omni: live order book, 39 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 MEXC live order book, 2 min ago	1.42 bp	5.7 bp −$6	27.0 bp −$270	81.0 bp −$8,105	doesn't fit
Sell ApeX Omni live order book, 39 min ago	6.87 bp	14.7 bp −$15	107.1 bp −$1,071	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	−0.4334%	1h	2.4340	−1.185%	$2K	$54K	5.5x	as long as short
Gate PENDLE_USDT	−0.0076%	8h	2.4610	−0.089%	$718K	$1.1M	75x	as long as short
BloFin PENDLE-USDT	−0.0072%	8h	2.4610	−0.089%	$1.2M	$604K	75x	as long as short
Extended PENDLE-USD	−0.0064%	1h	2.4627	−0.021%	$159K	$574K	10x	as long as short
Binance PENDLEUSDT	−0.0061%	8h	2.4637	+0.019%	$26.1M	$43.5M	75x	as long as short
MEXC PENDLE_USDTlong	−0.0057%	8h	2.4632	long leg	$17.3M	$2.0M	125x
Aster PENDLEUSDT	−0.0049%	8h	2.4633	+0.005%	$47K	$179K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0037%	8h	2.4608	−0.097%	$19K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4621	−0.046%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4607	−0.101%	$25K	$14K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PENDLE	+0.0052%	8h	2.4615	−0.067%	$552K	$1.4M	—	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4602	−0.122%	$26K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0065%	1h	2.4607	−0.103%	$3K	—	15x	as long as short
GRVT PENDLE_USDT_Perp	+0.0071%	8h	2.4605	−0.111%	$411K	$1.9M	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4615	−0.069%	$516K	$424K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4597	−0.141%	$34K	$13K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4628	−0.016%	$14.6M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4650	+0.073%	$3.1M	$6.1M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4620	−0.049%	$865K	$575K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4607	−0.101%	$3.7M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4617	−0.061%	—	$8.5M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4612	−0.082%	$24K	$378K	10x	as long as short
ApeX Omni PENDLEUSDTshort	+0.0100%	1h	2.4613	−0.077%	$75K	$235K	50x
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4631	−0.004%	$16K	$8K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4638	+0.024%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4618	−0.056%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0330%	1h	2.4659	+0.110%	$12.7M	$6.0M	5x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0608%	1h	2.4820	+0.763%	$148K	$497K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0697%	1h	2.4664	+0.130%	$357K	$466K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1179%	1h	2.4656	+0.099%	$115K	$269K	20x	as long as short