Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0063%/8h= +6.9% APRpaid last 24h −0.007%

Price spread now: Reya against MEXC+0.022%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 Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Reya is 0.022% dearer against MEXC than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PENDLE_USDT	2.4489	0.0018	pay 0.0018% / 8h	1h 00m	$17.5M	$2.0M	125x
Short	Reya PENDLERUSDPERP	2.4494	0.0081	get 0.0010% / 1h	0m 17s	$3K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.022%Rate

Funding earned: $13.25
Price spread: +0.022% → 0.000%: $2.21
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Reya: 3 bp × 2 orders: −$6
Net: $5.46
Costs to cover: 0.100%
Break-even: 4.1 days

Slippage unknown: MEXC: live order book, 3 min ago; Reya: 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, 3 min ago	0.61 bp	6.6 bp −$7	31.8 bp −$318	67.2 bp −$6,717	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	2.4230	−1.058%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0444%	1h	2.4494	+0.020%	$25K	$16K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0018%	8h	2.4486	−0.012%	$19K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4524	+0.143%	$10K	—	5x	as long as short
BloFin PENDLE-USDT	+0.0011%	8h	2.4463	−0.106%	$1.1M	$477K	75x	as long as short
Extended PENDLE-USD	+0.0016%	1h	2.4480	−0.035%	$158K	$525K	10x	as long as short
Binance PENDLEUSDT	+0.0017%	8h	2.4485	−0.016%	$25.8M	$45.4M	75x	as long as short
MEXC PENDLE_USDTlong	+0.0018%	8h	2.4489	long leg	$17.5M	$2.0M	125x
Gate PENDLE_USDT	+0.0051%	8h	2.4480	−0.037%	$788K	$1.0M	75x	as long as short
Reya PENDLERUSDPERPshort	+0.0081%	1h	2.4494	+0.022%	$3K	—	15x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PENDLE-PERP	+0.0088%	1h	2.4486	−0.011%	$26K	—	3x	as long as short
GRVT PENDLE_USDT_Perp	+0.0093%	8h	2.4470	−0.079%	$411K	$2.4M	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4497	+0.033%	$519K	$417K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4476	−0.053%	$34K	$7K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4534	+0.184%	$12.7M	$6.1M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4487	−0.007%	$46K	$169K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4475	−0.057%	$14.3M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4500	+0.045%	$3.1M	$6.7M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4507	+0.074%	$872K	$548K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4496	+0.029%	$3.8M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4496	+0.029%	—	$8.2M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4456	−0.136%	$594K	$1.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4468	−0.088%	$24K	$372K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4502	+0.053%	$75K	$233K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4519	+0.123%	$16K	$4K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4513	+0.098%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4502	+0.053%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0493%	1h	2.4534	+0.184%	$351K	$434K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0688%	1h	2.4540	+0.208%	$158K	$507K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1662%	1h	2.4529	+0.162%	$115K	$260K	20x	as long as short