Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Polymarket Perps against Paradex+0.228%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 Polymarket Perps

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: Polymarket Perps is 0.228% dearer against Paradex than usual: you sell high and buy low, +$23 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	2.5313	0.0100	pay 0.0100% / 8h	7h 34m	$35K	$18K	10x
Short	Polymarket Perps PENDLE-USD	2.5371	0.0100	get 0.0013% / 1h	34m 09s	$16K	$20K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.228%Rate

Funding earned: $0
Price spread: +0.228% → 0.000%: $22.8
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $10.8
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Polymarket Perps: 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 Polymarket Perps no order-book sample	—	—	—	—	—

Paradex and Polymarket Perps: 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	−0.4643%	1h	2.4970	−1.356%	$2K	$54K	5.5x	as long as short
BloFin PENDLE-USDT	−0.0108%	8h	2.5289	−0.096%	$1.3M	$705K	75x	as long as short
Binance PENDLEUSDT	−0.0081%	8h	2.5346	+0.130%	$27.4M	$42.7M	75x	as long as short
Extended PENDLE-USD	−0.0080%	1h	2.5336	+0.091%	$165K	$681K	10x	as long as short
MEXC PENDLE_USDT	−0.0078%	8h	2.5340	+0.106%	$17.1M	$1.9M	125x	as long as short
ApeX Omni PENDLEUSDT	−0.0060%	1h	2.5347	+0.133%	$77K	$238K	50x	as long as short
GRVT PENDLE_USDT_Perp	−0.0045%	8h	2.5333	+0.079%	$428K	$1.6M	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0016%	8h	2.5344	+0.121%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5343	+0.119%	$11K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.5351	+0.149%	$26K	$14K	10x	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	+0.0014%	8h	2.5291	−0.088%	$609K	$1.9M	—	as long as short
Gate PENDLE_USDT	+0.0019%	8h	2.5350	+0.145%	$792K	$1.2M	75x	as long as short
Reya PENDLERUSDPERP	+0.0049%	1h	2.5360	+0.184%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.5335	+0.088%	$26K	—	3x	as long as short
Aster PENDLEUSDT	+0.0077%	8h	2.5341	+0.110%	$47K	$178K	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5349	+0.141%	$538K	$415K	5x	as long as short
Paradex PENDLE-USD-PERPlong	+0.0100%	8h	2.5313	long leg	$35K	$18K	10x
Bybit PENDLEUSDT	+0.0100%	8h	2.5320	+0.027%	$15.6M	$12.0M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5340	+0.106%	$3.3M	$6.1M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5349	+0.141%	$891K	$593K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5345	+0.125%	$3.8M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5337	+0.094%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5331	+0.069%	$25K	$381K	10x	as long as short
Polymarket Perps PENDLE-USDshort	+0.0100%	1h	2.5371	+0.228%	$16K	$20K	5x
SunX PENDLE-USDT	+0.0100%	8h	2.5359	+0.181%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0203% / S −0.0382%	1h	2.5365	+0.205%	$7K	—	100x	as long as short
Hyperliquid PENDLE	+0.0296%	1h	2.5398	+0.335%	$13.0M	$6.4M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0613%	1h	2.5414	+0.397%	$118K	$293K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0728%	1h	2.5350	+0.145%	$141K	$443K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0884%	1h	2.5387	+0.291%	$334K	$486K	15x	as long as short