Funding arb · Price arb /

PENDLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.046%

Price spread now: OKX against Variational Omni+0.181%7-day average +0.034% · you sell dearer than you buy

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

Long on Variational Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.102%+$10 on $10k

Price spread, last 7 days−0.105%−$11 · spread now +0.181%, 7d avg +0.034%

Together, before fees−0.003%+ Points / potential airdropVariational Omni: Active · farm board$0 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: OKX is 0.148% dearer against Variational Omni than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni PENDLE	2.4246	0.0100	pay 0.0100% / 8h	7h 52m	$565K	$1.2M	—
Short	OKX PENDLE-USDT-SWAP	2.4290	0.0100	get 0.0050% / 4h	3h 52m	$3.1M	$6.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Variational Omni. 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 Variational OmnibpFee OKXbpOrdersPrice spread, now +0.181%Rate

Funding earned: $0
Price spread: +0.181% → +0.034%: $14.78
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: $4.78
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; OKX: live order book, 6 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 Variational Omni RFQ quote, 2 min ago	4.78 bp	doesn't fit	71.8 bp −$718	doesn't fit	doesn't fit
Sell OKX live order book, 6 min ago	2.06 bp	14.7 bp −$15	67.6 bp −$676	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	−0.3627%	1h	2.4010	−0.973%	$2K	$54K	5.5x	as long as short
GRVT PENDLE_USDT_Perp	−0.0702%	8h	2.4256	+0.040%	$402K	$2.6M	10x	as long as short
Gate PENDLE_USDT	−0.0579%	8h	2.4260	+0.058%	$767K	$990K	75x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0244%	1h	2.4271	+0.103%	$25K	$16K	10x	as long as short
BloFin PENDLE-USDT	−0.0018%	8h	2.4252	+0.025%	$1.1M	$503K	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0013%	8h	2.4264	+0.074%	$18K	$15K	10x	as long as short
Binance PENDLEUSDT	−0.0010%	8h	2.4282	+0.148%	$25.4M	$45.9M	75x	as long as short
Extended PENDLE-USD	−0.0008%	1h	2.4251	+0.019%	$156K	$924K	10x	as long as short
MEXC PENDLE_USDT	−0.0002%	8h	2.4273	+0.111%	$18.0M	$2.1M	125x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4300	+0.225%	$10K	—	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni PENDLEUSDT	+0.0032%	1h	2.4225	−0.087%	$74K	$232K	50x	as long as short
Bybit PENDLEUSDT	+0.0074%	8h	2.4280	+0.140%	$14.1M	$12.0M	50x	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.4254	+0.033%	$25K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0087%	1h	2.4279	+0.138%	$3K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4270	+0.099%	$522K	$429K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4235	−0.044%	$34K	$3K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4303	+0.235%	$12.7M	$6.1M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4258	+0.050%	$47K	$168K	10x	as long as short
OKX PENDLE-USDT-SWAPshort	+0.0100%	4h	2.4290	+0.181%	$3.1M	$6.7M	50x
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4268	+0.091%	$686K	$610K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4277	+0.128%	$3.8M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4282	+0.148%	—	$8.2M	—	as long as short
Variational Omni PENDLElong	+0.0100%	8h	2.4246	long leg	$565K	$1.2M	—
edgeX PENDLEUSDC	+0.0100%	4h	2.4230	−0.066%	$24K	$368K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4290	+0.181%	$16K	$4K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4293	+0.194%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4274	+0.117%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0664%	1h	2.4400	+0.635%	$159K	$512K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0803%	1h	2.4323	+0.318%	$359K	$433K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1277%	1h	2.4311	+0.269%	$115K	$258K	20x	as long as short