Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0156%/8h= −17.1% APRpaid last 24h −0.014%

Price spread now: Extended against Paradex−0.062%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 Extended

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 · Extended: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Extended is 0.062% cheaper against Paradex than usual: you would sell low and buy high (−$6 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	2.4631	0.0100	pay 0.0100% / 8h	4h 22m	$34K	$13K	10x
Short	Extended PENDLE-USD	2.4616	−0.0056	pay 0.0007% / 1h	22m 13s	$159K	$574K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.062%Rate

Funding earned: −$32.76
Price spread: −0.062% → 0.000%: −$6.24
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$48
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Extended: live order book, 36 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 Extended live order book, 36 min ago	0.81 bp	14.0 bp −$14	122.7 bp −$1,227	doesn't fit	doesn't fit

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	−0.4334%	1h	2.4340	−1.183%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0156%	1h	2.4638	+0.027%	$25K	$14K	10x	as long as short
Gate PENDLE_USDT	−0.0069%	8h	2.4620	−0.046%	$718K	$1.1M	75x	as long as short
BloFin PENDLE-USDT	−0.0062%	8h	2.4628	−0.014%	$1.1M	$604K	75x	as long as short
Extended PENDLE-USDshort	−0.0056%	1h	2.4616	−0.062%	$159K	$574K	10x
MEXC PENDLE_USDT	−0.0054%	8h	2.4635	+0.015%	$17.3M	$2.0M	125x	as long as short
Binance PENDLEUSDT	−0.0053%	8h	2.4627	−0.016%	$26.1M	$43.6M	75x	as long as short
Aster PENDLEUSDT	−0.0039%	8h	2.4659	+0.111%	$47K	$179K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0037%	8h	2.4632	+0.003%	$19K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4645	+0.055%	$10K	—	5x	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	+0.0048%	8h	2.4650	+0.077%	$553K	$1.5M	—	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4627	−0.018%	$26K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0065%	1h	2.4637	+0.024%	$3K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4636	+0.019%	$516K	$424K	5x	as long as short
GRVT PENDLE_USDT_Perp	+0.0096%	8h	2.4681	+0.201%	$408K	$1.9M	10x	as long as short
Paradex PENDLE-USD-PERPlong	+0.0100%	8h	2.4631	long leg	$34K	$13K	10x
Bybit PENDLEUSDT	+0.0100%	8h	2.4622	−0.038%	$14.5M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4620	−0.046%	$3.1M	$6.1M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4647	+0.064%	$866K	$576K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4624	−0.030%	$3.7M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4629	−0.010%	—	$8.5M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4644	+0.050%	$24K	$376K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4642	+0.043%	$75K	$235K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4655	+0.096%	$16K	$8K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4660	+0.116%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4644	+0.052%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0373%	1h	2.4680	+0.198%	$12.7M	$6.0M	5x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0608%	1h	2.4820	+0.766%	$148K	$497K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0729%	1h	2.4691	+0.242%	$357K	$467K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1179%	1h	2.4674	+0.174%	$115K	$269K	20x	as long as short