Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.003%

Price spread now: Aevo against Paradex−0.170%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aevo is 0.170% cheaper against Paradex than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex PENDLE-USD-PERP	2.4430	0.0100	pay 0.0100% / 8h	2h 34m	$34K	$9K	10x
Short	Aevo PENDLE-PERP	2.4389	0.0080	get 0.0010% / 1h	34m 20s	$26K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Paradex. 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 ParadexbpFee AevobpOrdersPrice spread, now −0.170%Rate

Funding earned: −$4.2
Price spread: −0.170% → 0.000%: −$17
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$41.2
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Aevo: 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 Paradex no order-book sample	—	—	—	—	—
Sell Aevo no order-book sample	—	—	—	—	—

Paradex and Aevo: 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	−0.3926%	1h	2.4150	−1.148%	$2K	$54K	5.5x	as long as short
Gate PENDLE_USDT	−0.0044%	8h	2.4440	+0.039%	$718K	$1.1M	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0035%	8h	2.4400	−0.125%	$19K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4451	+0.084%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4401	−0.121%	$24K	$15K	10x	as long as short
BloFin PENDLE-USDT	+0.0003%	8h	2.4494	+0.260%	$1.1M	$602K	75x	as long as short
MEXC PENDLE_USDT	+0.0005%	8h	2.4416	−0.059%	$17.3M	$2.0M	125x	as long as short
Binance PENDLEUSDT	+0.0005%	8h	2.4402	−0.117%	$25.7M	$44.3M	75x	as long as short
Extended PENDLE-USD	+0.0008%	1h	2.4411	−0.081%	$157K	$582K	10x	as long as short
Reya PENDLERUSDPERP	+0.0074%	1h	2.4412	−0.075%	$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-PERPshort	+0.0080%	1h	2.4389	−0.170%	$26K	—	3x
Lighter PENDLE	+0.0096%	1h	2.4448	+0.072%	$515K	$416K	5x	as long as short
Paradex PENDLE-USD-PERPlong	+0.0100%	8h	2.4430	long leg	$34K	$9K	10x
Hyperliquid PENDLE	+0.0100%	1h	2.4454	+0.096%	$12.6M	$6.1M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4422	−0.034%	$46K	$171K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4393	−0.153%	$14.2M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4420	−0.043%	$3.1M	$6.4M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4452	+0.088%	$860K	$554K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4412	−0.076%	$3.6M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4425	−0.022%	—	$8.4M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4431	+0.003%	$549K	$1.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4422	−0.033%	$24K	$375K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.4445	+0.059%	$411K	$2.1M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4433	+0.010%	$74K	$234K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4434	+0.014%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4507	+0.313%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4406	−0.100%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.4540	+0.448%	$155K	$522K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0683%	1h	2.4548	+0.481%	$356K	$402K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1188%	1h	2.4557	+0.517%	$115K	$263K	20x	as long as short