Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: edgeX against SunX+0.036%74s7-day average −0.051% · you sell dearer than you buy

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

Long on SunX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)+0.024%+$2 · spread now +0.036%, 7d avg −0.051%

Together, before fees+0.024%+ Points / potential airdropedgeX: Active · farm board+$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: edgeX is 0.087% dearer against SunX than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.051%. The two prices were read 74 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PENDLE-USDT	2.4926	0.0100	pay 0.0100% / 8h	1h 27m	$1K	$1.7M	20x
Short	edgeX PENDLEUSDC	2.4935	0.0100	get 0.0050% / 4h	1h 27m	$25K	$412K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against SunX. 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 SunXbpFee edgeXbpOrdersPrice spread, now +0.036%Rate

Funding earned: $0
Price spread: +0.036% → −0.051%: $8.74
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$8.26
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 7 min ago; edgeX: live order book, 56 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 SunX live order book, 7 min ago	500.21 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 56 min ago	1.19 bp	6.1 bp −$6	62.8 bp −$628	doesn't fit	doesn't fit

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	−0.3656%	1h	2.4770	−0.626%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0191%	1h	2.4928	+0.008%	$29K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0109%	1h	2.4948	+0.088%	$76K	$240K	50x	as long as short
BloFin PENDLE-USDT	−0.0006%	8h	2.4902	−0.096%	$1.3M	$736K	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4974	+0.192%	$10K	—	5x	as long as short
Extended PENDLE-USD	+0.0008%	1h	2.4901	−0.100%	$164K	$526K	10x	as long as short
MEXC PENDLE_USDT	+0.0010%	8h	2.4904	−0.088%	$16.8M	$2.1M	125x	as long as short
Binance PENDLEUSDT	+0.0011%	8h	2.4875	−0.205%	$26.9M	$40.5M	75x	as long as short
Orderly PERP_PENDLE_USDC	+0.0022%	8h	2.4917	−0.036%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0040%	1h	2.4949	+0.091%	$4K	—	15x	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	+0.0062%	8h	2.4902	−0.097%	$550K	$2.0M	—	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.4933	+0.029%	$26K	—	3x	as long as short
GRVT PENDLE_USDT_Perp	+0.0087%	8h	2.4900	−0.104%	$419K	$1.6M	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4917	−0.036%	$524K	$423K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4970	+0.178%	$35K	$20K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4918	−0.032%	$12.3M	$5.9M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4930	+0.016%	$43K	$173K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4870	−0.225%	$15.3M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4880	−0.185%	$3.2M	$5.8M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4940	+0.056%	$782K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4937	+0.044%	$891K	$613K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4878	−0.193%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4871	−0.221%	—	$36.2M	—	as long as short
edgeX PENDLEUSDCshort	+0.0100%	4h	2.4935	+0.036%	$25K	$412K	10x
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4985	+0.237%	$16K	$20K	5x	as long as short
SunX PENDLE-USDTlong	+0.0100%	8h	2.4926	long leg	$1K	$1.7M	20x
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.4948	+0.086%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.4970	+0.177%	$138K	$461K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0679%	1h	2.4956	+0.120%	$354K	$473K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0756%	1h	2.4914	−0.047%	$124K	$300K	20x	as long as short