Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0135%/8h= +14.8% APRpaid last 24h +0.003%

Price spread now: edgeX against MEXC−0.125%53s7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$260.259% of the position

Long on MEXC Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

Price spread, last 3 days (all we have)+0.388%+$39 · spread now −0.125%, 7d avg −0.020%

Together, before fees+0.457%+ Points / potential airdropedgeX: Active · farm board+$46 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.105% cheaper against MEXC than usual: you would sell low and buy high (spread −0.125% now, against its 7-day average of −0.020%). If the spread goes back, that is −$11 on $10k: about 2.6 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.069% in total) that is about 11 days. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PENDLE_USDT	2.5240	−0.0035	get 0.0035% / 8h	22m 46s	$17.1M	$1.9M	125x
Short	edgeX PENDLEUSDC	2.5208	0.0100	get 0.0050% / 4h	22m 46s	$25K	$382K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.125%Rate

Funding earned: $28.35
Price spread: −0.125% → −0.020%: −$10.52
Slippage, 4 orders: −$12.93
Fee MEXC: 2 bp × 2 orders: −$4
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$8.1
Costs to cover: 0.259%
Break-even: 9.0 days

Slippage from MEXC: live order book, 1 min ago; edgeX: live order book, 56 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, 1 min ago	0.79 bp	7.7 bp −$8	29.3 bp −$293	96.3 bp −$9,628	doesn't fit
Sell edgeX live order book, 56 min ago	1.21 bp	6.1 bp −$6	doesn't fit	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	−0.5000%	1h	2.4940	−1.189%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0305%	1h	2.5230	−0.040%	$30K	$10K	10x	as long as short
BloFin PENDLE-USDT	−0.0058%	8h	2.5235	−0.020%	$1.3M	$714K	75x	as long as short
Binance PENDLEUSDT	−0.0036%	8h	2.5240	0.000%	$27.3M	$42.0M	75x	as long as short
MEXC PENDLE_USDTlong	−0.0035%	8h	2.5240	long leg	$17.1M	$1.9M	125x
Extended PENDLE-USD	−0.0032%	1h	2.5219	−0.081%	$166K	$528K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0027%	1h	2.5215	−0.099%	$77K	$239K	50x	as long as short
Orderly PERP_PENDLE_USDC	−0.0004%	8h	2.5227	−0.052%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5267	+0.106%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0036%	8h	2.5202	−0.150%	$595K	$1.9M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT PENDLE_USDT_Perp	+0.0045%	8h	2.5244	+0.017%	$418K	$1.6M	10x	as long as short
Reya PENDLERUSDPERP	+0.0045%	1h	2.5218	−0.087%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0072%	1h	2.5222	−0.071%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5247	+0.028%	$532K	$416K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5252	+0.048%	$35K	$18K	10x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5259	+0.074%	$46K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5250	+0.040%	$15.6M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5250	+0.040%	$3.2M	$6.0M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5230	−0.040%	$785K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5250	+0.040%	$887K	$600K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5208	−0.127%	$3.8M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5226	−0.055%	—	$35.7M	—	as long as short
edgeX PENDLEUSDCshort	+0.0100%	4h	2.5208	−0.125%	$25K	$382K	10x
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5241	+0.004%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5230	−0.040%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5240	+0.001%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0345%	1h	2.5284	+0.174%	$12.8M	$6.2M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0594%	1h	2.5289	+0.193%	$119K	$299K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+0.396%	$141K	$451K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0775%	1h	2.5281	+0.162%	$332K	$490K	15x	as long as short