Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: edgeX against OKX−0.403%7-day average +0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$430.430% of the position

Long on OKX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.024%+$2 on $10k

Price spread, last 4 days (all we have)+1.216%+$122 · spread now −0.403%, 7d avg +0.028%

Together, before fees+1.240%+ Points / potential airdropedgeX: Active · farm board+$124 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 0.431% cheaper against OKX than usual: you would sell low and buy high, −$43 on $10k if it goes back to its 7-day average of +0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PENDLE-USDT-SWAP	2.4650	0.0100	pay 0.0050% / 4h	2h 59m	$3.1M	$6.8M	50x
Short	edgeX PENDLEUSDC	2.4551	0.0100	get 0.0050% / 4h	2h 59m	$23K	$372K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against OKX. 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 OKXbpFee edgeXbpOrdersPrice spread, now −0.403%Rate

Funding earned: $0
Price spread: −0.403% → +0.028%: −$43.1
Slippage, 4 orders: −$23.98
Fee OKX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$86.08
Costs to cover: 0.430%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; edgeX: live order book, 34 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 OKX live order book, 4 min ago	2.04 bp	16.6 bp −$17	85.0 bp −$850	doesn't fit	doesn't fit
Sell edgeX live order book, 34 min ago	1.45 bp	6.4 bp −$6	67.3 bp −$673	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	2.3930	−2.921%	$2K	$55K	5.5x	as long as short
BloFin PENDLE-USDT	−0.0093%	8h	2.4640	−0.041%	$1.1M	$520K	75x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0077%	1h	2.4641	−0.039%	$116K	$253K	20x	as long as short
Binance PENDLEUSDT	−0.0074%	8h	2.4656	+0.024%	$25.8M	$46.9M	75x	as long as short
MEXC PENDLE_USDT	−0.0073%	8h	2.4649	−0.004%	$18.8M	$2.1M	125x	as long as short
Extended PENDLE-USD	−0.0072%	1h	2.4649	−0.005%	$163K	$934K	10x	as long as short
GRVT PENDLE_USDT_Perp	−0.0051%	8h	2.4560	−0.364%	$414K	$2.8M	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0003%	8h	2.4651	+0.004%	$19K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4645	−0.019%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4662	+0.049%	$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
Aster PENDLEUSDT	+0.0034%	8h	2.4654	+0.018%	$50K	$176K	10x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4651	+0.002%	$26K	—	3x	as long as short
Variational Omni PENDLE	+0.0087%	8h	2.4520	−0.526%	$584K	$1.2M	—	as long as short
Reya PENDLERUSDPERP	+0.0091%	1h	2.4649	−0.004%	$3K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4654	+0.016%	$532K	$376K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4637	−0.051%	$34K	$3K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4650	0.000%	$14.4M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAPlong	+0.0100%	4h	2.4650	long leg	$3.1M	$6.8M	50x
Gate PENDLE_USDT	+0.0100%	8h	2.4650	0.000%	$781K	$954K	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4654	+0.016%	$705K	$596K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4649	−0.004%	$3.9M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4645	−0.020%	—	$8.2M	—	as long as short
edgeX PENDLEUSDCshort	+0.0100%	4h	2.4551	−0.403%	$23K	$372K	10x
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4567	−0.337%	$75K	$230K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4670	+0.081%	$16K	$4K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4659	+0.037%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0151% / S −0.0168%	1h	2.4559	−0.370%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0651%	1h	2.4701	+0.207%	$13.1M	$6.0M	5x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0728%	1h	2.4700	+0.203%	$171K	$540K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.1750%	1h	2.4701	+0.207%	$367K	$433K	15x	as long as short