Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: BingX against Paradex+0.042%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on BingX

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.042% dearer against Paradex than usual: you sell high and buy low, +$4 on $10k if it 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	Paradex PENDLE-USD-PERP	2.5081	0.0100	pay 0.0100% / 8h	2h 10m	$35K	$22K	10x
Short	BingX PENDLE-USDT	2.5091	0.0100	get 0.0100% / 8h	2h 10m	—	$36.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.042%Rate

Funding earned: $0
Price spread: +0.042% → 0.000%: $4.18
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$9.82
Costs to cover: 0.140%
Break-even: 25212195.6 days

Slippage unknown: Paradex: no order-book sample; BingX: live order book, 13 min ago. 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 BingX live order book, 13 min ago	3.56 bp	12.9 bp −$13	23.1 bp −$231	128.2 bp −$12.8K	409.4 bp −$204.7K

Paradex: 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	−0.4806%	1h	2.4840	−0.959%	$2K	$53K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0431%	1h	2.5104	+0.093%	$149K	$277K	20x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0149%	1h	2.5071	−0.038%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5079	−0.005%	$11K	—	5x	as long as short
Orderly PERP_PENDLE_USDC	+0.0034%	8h	2.5090	+0.038%	$25K	$11K	10x	as long as short
Reya PENDLERUSDPERP	+0.0037%	1h	2.5098	+0.070%	$4K	—	15x	as long as short
Extended PENDLE-USD	+0.0040%	1h	2.5083	+0.012%	$165K	$524K	10x	as long as short
MEXC PENDLE_USDT	+0.0042%	8h	2.5086	+0.022%	$16.9M	$2.3M	125x	as long as short
Binance PENDLEUSDT	+0.0042%	8h	2.5086	+0.021%	$27.3M	$39.4M	75x	as long as short
BloFin PENDLE-USDT	+0.0049%	8h	2.5058	−0.090%	$1.3M	$737K	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PENDLE	+0.0050%	8h	2.5034	−0.184%	$616K	$2.1M	—	as long as short
ApeX Omni PENDLEUSDT	+0.0077%	1h	2.5130	+0.197%	$77K	$239K	50x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5077	−0.014%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5091	+0.042%	$544K	$397K	5x	as long as short
Paradex PENDLE-USD-PERPlong	+0.0100%	8h	2.5081	long leg	$35K	$22K	10x
Hyperliquid PENDLE	+0.0100%	1h	2.5128	+0.189%	$12.3M	$5.7M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5080	−0.003%	$41K	$172K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5080	−0.002%	$15.5M	$12.0M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5090	+0.038%	$3.2M	$5.7M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5090	+0.038%	$851K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5088	+0.030%	$895K	$609K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5090	+0.038%	$3.7M	$2.6M	75x	as long as short
BingX PENDLE-USDTshort	+0.0100%	8h	2.5091	+0.042%	—	$36.3M	—
edgeX PENDLEUSDC	+0.0100%	4h	2.5135	+0.217%	$25K	$413K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5034	−0.187%	$422K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5111	+0.122%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5065	−0.062%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5097	+0.067%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5090	+0.038%	$116K	$417K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0839%	1h	2.5123	+0.169%	$362K	$460K	15x	as long as short