data as of
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Price arb /

PENDLE

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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Spread before costs (cost unknown: a leg has no order-book sample)−0.073%
7d average—if it closes, per $10,000$7funding while held, a day+$1.36
Long on OrderlyShort on Binance
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOrderly PERP_PENDLE_USDC2.61760.0055pay 0.0055% / 8h14m 09s$21K$4K10x
ShortBinance PENDLEUSDT2.61570.0100get 0.0100% / 8h14m 09s$29.1M$32.8M75x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$7.26
Funding while held
$1.36
Slippage, 4 orders
no order book: not counted
Fee Orderly: 3 bp × 2 orders
−$6
Fee Binance: 5 bp × 2 orders
−$10
Net
−$21.9
Spread needed to break even
0.160%
Slippage unknown: Orderly: no order-book sample; Binance: live order book, 14 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.0045%
Per $10,000 a day
+$1.36
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Orderly no order-book sample—————
Sell Binance live order book, 14 min ago0.76 bp8.6 bp −$926.3 bp −$263168.0 bp −$16.8Kdoesn't fit
Orderly: 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 price on every exchange

against the cheapest. Click to use as the short leg.
Injective2.5790cheapestVariational Omni2.6033+0.941%edgeX2.6046+0.991%Bybit2.6123+1.291%BloFin2.6136+1.342%Gate2.6140+1.357%Bitget2.6142+1.365%dYdX2.6154+1.413%
Binance2.6157+1.423%
BingX2.6157+1.423%Polymarket Perps2.6157+1.423%ApeX Omni2.6158+1.427%Extended2.6162+1.443%MEXC2.6166+1.458%OKX2.6170+1.473%Coinbase International2.6170+1.473%Reya2.6171+1.476%Aster2.6171+1.479%Aevo2.6173+1.485%Paradex2.6174+1.489%KuCoin2.6176+1.497%
Orderly2.6176+1.497%
Lighter2.6177+1.501%Deribit2.6183+1.524%GMX2.6185+1.533%Hyperliquid2.6193+1.563%SunX2.6202+1.598%Backpack2.6212+1.636%Kraken Futures2.6242+1.754%

PENDLE on 29 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective PENDLE/USDC PERP−1.475%−0.1178%1h$2K$6K5.5xas long as short
Variational Omni PENDLE−0.547%−0.0281%8h$818K$2.2M—as long as short
edgeX PENDLEUSDC−0.498%+0.0100%4h$26K$417K10xas long as short
Bybit PENDLEUSDT−0.202%−0.0245%8h$16.3M$11.5M50xas long as short
BloFin PENDLE-USDT−0.153%+0.0127%8h$1.5M$853K75xas long as short
Gate PENDLE_USDT−0.138%−0.0002%8h$813K$1.1M75xas long as short
Bitget PENDLEUSDT−0.130%+0.0100%8h$3.9M$2.6M75xas long as short
dYdX PENDLE-USD−0.082%0.0000%1h$11K—5xas long as short
Binance PENDLEUSDTshort−0.073%+0.0100%8h$29.1M$32.8M75x
BingX PENDLE-USDT−0.073%+0.0100%8h—$34.2M—as long as short
Show all 29 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Polymarket Perps PENDLE-USD−0.073%−0.0019%1h$18K$54K5xas long as short
ApeX Omni PENDLEUSDT−0.069%+0.0100%1h$79K$236K50xas long as short
Extended PENDLE-USD−0.053%+0.0104%1h$172K$520K10xas long as short
MEXC PENDLE_USDT−0.038%+0.0100%8h$17.0M$2.1M125xas long as short
OKX PENDLE-USDT-SWAP−0.023%+0.0100%4h$3.2M$4.9M50xas long as short
Coinbase International PENDLE-PERP-INTX−0.023%+0.0496%1h$99K$397K25xas long as short
Reya PENDLERUSDPERP−0.021%+0.0008%1h$4K—15xas long as short
Aster PENDLEUSDT−0.018%+0.0026%8h$51K$125K10xas long as short
Aevo PENDLE-PERP−0.011%+0.0104%1h$27K—3xas long as short
Paradex PENDLE-USD-PERP−0.007%+0.0100%8h$37K$30K10xas long as short
KuCoin PENDLEUSDTM0.000%+0.0100%8h$1.0M$489K50xas long as short
Orderly PERP_PENDLE_USDClong0.000%+0.0055%8h$21K$4K10x
Lighter PENDLE+0.004%+0.0096%1h$570K$359K5xas long as short
Deribit PENDLE_USDC-PERPETUAL+0.027%0.0000%1h$31K$10K10xas long as short
GMX PENDLE/USD [PENDLE-USDC]+0.036%L +0.0200% / S −0.0272%1h$5K—100xas long as short
Hyperliquid PENDLE+0.065%+0.0100%1h$12.3M$5.1M5xas long as short
SunX PENDLE-USDT+0.099%+0.0100%8h$2K$1.5M20xas long as short
Backpack PENDLE_USDC_PERP+0.138%+0.0474%1h$370K$448K15xas long as short
Kraken Futures PF_PENDLEUSD+0.253%+0.1867%1h$166K$219K20xas long as short