Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0062%/8h= +6.8% APRpaid last 24h +0.014%

Price spread now: Polymarket Perps against MEXC+0.106%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on Polymarket Perps

What this pair did over the last

the charts below follow

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

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Polymarket Perps is 0.106% dearer against MEXC than usual: you sell high and buy low: +$11 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.069%, 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	2.4522	0.0038	pay 0.0038% / 8h	1h 56m	$17.5M	$2.0M	125x
Short	Polymarket Perps PENDLE-USD	2.4548	0.0100	get 0.0013% / 1h	56m 29s	$16K	$7K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.106%Rate

Funding earned: $13.02
Price spread: +0.106% → 0.000%: $10.6
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $11.62
Costs to cover: 0.120%
Break-even: 0.8 days

Slippage unknown: MEXC: live order book, 2 min ago; Polymarket Perps: no order-book sample. Net counts fees only.

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	1.22 bp	6.6 bp −$7	36.7 bp −$367	82.6 bp −$8,265	doesn't fit
Sell Polymarket Perps no order-book sample	—	—	—	—	—

Polymarket Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	2.4340	−0.742%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0564%	1h	2.4543	+0.086%	$25K	$16K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0034%	8h	2.4546	+0.098%	$19K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4587	+0.265%	$10K	—	5x	as long as short
Gate PENDLE_USDT	+0.0006%	8h	2.4560	+0.155%	$751K	$1.0M	75x	as long as short
BloFin PENDLE-USDT	+0.0022%	8h	2.4524	+0.008%	$1.1M	$505K	75x	as long as short
MEXC PENDLE_USDTlong	+0.0038%	8h	2.4522	long leg	$17.5M	$2.0M	125x
Binance PENDLEUSDT	+0.0040%	8h	2.4522	0.000%	$25.8M	$44.9M	75x	as long as short
Extended PENDLE-USD	+0.0040%	1h	2.4523	+0.003%	$160K	$570K	10x	as long as short
Reya PENDLERUSDPERP	+0.0077%	1h	2.4534	+0.050%	$3K	—	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PENDLE-PERP	+0.0088%	1h	2.4536	+0.057%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4530	+0.033%	$519K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4517	−0.022%	$34K	$7K	10x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4557	+0.144%	$47K	$170K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4520	−0.008%	$14.3M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4540	+0.073%	$3.1M	$6.6M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4579	+0.232%	$879K	$558K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4540	+0.073%	$3.8M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4547	+0.102%	—	$8.4M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4560	+0.157%	$562K	$1.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4566	+0.178%	$24K	$370K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.4575	+0.216%	$410K	$2.2M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4582	+0.245%	$75K	$233K	50x	as long as short
Polymarket Perps PENDLE-USDshort	+0.0100%	1h	2.4548	+0.106%	$16K	$7K	5x
SunX PENDLE-USDT	+0.0100%	8h	2.4547	+0.102%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4572	+0.205%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0222%	1h	2.4573	+0.208%	$12.8M	$6.1M	5x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0688%	1h	2.4710	+0.767%	$161K	$539K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.1202%	1h	2.4590	+0.277%	$352K	$432K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1658%	1h	2.4584	+0.254%	$115K	$263K	20x	as long as short