PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0040%/8h= +4.4% APRnext payment +$0.05 per $10,000 · paid last 24h +0.016%

Price spread now: Hyperliquid against ApeX Omni+0.208%7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$410.415% of the position

Long on ApeX Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.158%+$16 on $10k

Price spread, last 3 days (all we have)−0.508%−$51 · spread now +0.208%, 7d avg +0.046%

Together, before fees−0.351%+ Points / potential airdropHyperliquid: Season 2 · farm board−$35 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Hyperliquid is 0.161% dearer against ApeX Omni than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PENDLEUSDT	2.5020	0.0060	pay 0.0008% / 1h	39m 23s	$76K	$240K	50x
Short	Hyperliquid PENDLE	2.5072	0.0100	get 0.0013% / 1h	39m 23s	$12.3M	$5.8M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against ApeX 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 ApeX OmnibpFee HyperliquidbpOrdersPrice spread, now +0.208%Rate

Funding earned: $8.38
Price spread: +0.208% → +0.046%: $16.14
Slippage, 4 orders: −$22.46
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$16.93
Costs to cover: 0.415%
Break-even: 21.1 days

Slippage from ApeX Omni: live order book, 42 min ago; Hyperliquid: live order book, 3 min ago.

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 ApeX Omni live order book, 42 min ago	3.37 bp	12.1 bp −$12	111.3 bp −$1,113	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 3 min ago	0.80 bp	12.5 bp −$13	doesn't fit	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	−0.999%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0388%	1h	2.5058	+0.152%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5043	+0.093%	$11K	—	5x	as long as short
Extended PENDLE-USD	+0.0024%	1h	2.5033	+0.052%	$164K	$526K	10x	as long as short
MEXC PENDLE_USDT	+0.0025%	8h	2.5036	+0.064%	$16.9M	$2.1M	125x	as long as short
Binance PENDLEUSDT	+0.0026%	8h	2.5038	+0.071%	$27.2M	$40.1M	75x	as long as short
Orderly PERP_PENDLE_USDC	+0.0027%	8h	2.5055	+0.140%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0039%	1h	2.5036	+0.063%	$4K	—	15x	as long as short
BloFin PENDLE-USDT	+0.0050%	8h	2.4979	−0.164%	$1.3M	$730K	75x	as long as short
ApeX Omni PENDLEUSDTlong	+0.0060%	1h	2.5020	long leg	$76K	$240K	50x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PENDLE	+0.0065%	8h	2.5012	−0.031%	$553K	$2.0M	—	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5059	+0.157%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5047	+0.108%	$525K	$422K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5033	+0.052%	$35K	$20K	10x	as long as short
Hyperliquid PENDLEshort	+0.0100%	1h	2.5072	+0.208%	$12.3M	$5.8M	5x
Aster PENDLEUSDT	+0.0100%	8h	2.5061	+0.164%	$42K	$175K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5030	+0.040%	$15.4M	$11.8M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5060	+0.160%	$3.2M	$5.8M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5040	+0.080%	$786K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5057	+0.148%	$894K	$623K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5028	+0.032%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5044	+0.096%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5004	−0.064%	$25K	$410K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.4989	−0.122%	$412K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5065	+0.180%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5070	+0.200%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5056	+0.143%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5040	+0.080%	$139K	$461K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0749%	1h	2.5109	+0.356%	$357K	$461K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0751%	1h	2.5086	+0.262%	$147K	$278K	20x	as long as short