PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0166%/8h= +18.2% APRnext payment +$0.21 per $10,000 · paid last 24h +0.003%

Price spread now: Lighter against ApeX Omni−0.181%108s7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$550.547% of the position

Long on ApeX Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.117%+$12 on $10k

Price spread, last 3 days (all we have)−0.193%−$19 · spread now −0.181%, 7d avg −0.043%

Together, before fees−0.076%+ Points / potential airdropLighter: Season 3 · farm board−$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.138% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.181% now, against its 7-day average of −0.043%). If the spread goes back, that is −$14 on $10k: about 2.8 days of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.117% in total) that is about 8.3 days. The two prices were read 108 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	ApeX Omni PENDLEUSDT	2.4903	−0.0070	get 0.0009% / 1h	11m 38s	$76K	$239K	50x
Short	Lighter PENDLE	2.4858	0.0096	get 0.0012% / 1h	11m 38s	$523K	$424K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.181%Rate

Funding earned: $34.84
Price spread: −0.181% → −0.043%: −$13.79
Slippage, 4 orders: −$44.68
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$33.63
Costs to cover: 0.547%
Break-even: 13.8 days

Slippage from ApeX Omni: live order book, 5 min ago; Lighter: live order book, 64 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, 5 min ago	6.83 bp	14.2 bp −$14	91.2 bp −$912	doesn't fit	doesn't fit
Sell Lighter live order book, 64 min ago	10.75 bp	11.3 bp −$11	112.8 bp −$1,128	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	−0.534%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0433%	1h	2.4870	−0.133%	$29K	$10K	10x	as long as short
ApeX Omni PENDLEUSDTlong	−0.0070%	1h	2.4903	long leg	$76K	$239K	50x
BloFin PENDLE-USDT	−0.0028%	8h	2.4860	−0.173%	$1.3M	$732K	75x	as long as short
Binance PENDLEUSDT	−0.0008%	8h	2.4845	−0.233%	$26.8M	$41.0M	75x	as long as short
MEXC PENDLE_USDT	−0.0003%	8h	2.4851	−0.209%	$16.8M	$2.1M	125x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4872	−0.126%	$10K	—	5x	as long as short
Extended PENDLE-USD	0.0000%	1h	2.4841	−0.249%	$164K	$526K	10x	as long as short
Orderly PERP_PENDLE_USDC	+0.0015%	8h	2.4861	−0.169%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0042%	1h	2.4863	−0.162%	$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	2.4872	−0.125%	$550K	$2.0M	—	as long as short
GRVT PENDLE_USDT_Perp	+0.0071%	8h	2.4885	−0.074%	$413K	$1.6M	10x	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.4851	−0.211%	$26K	—	3x	as long as short
Lighter PENDLEshort	+0.0096%	1h	2.4858	−0.181%	$523K	$424K	5x
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4845	−0.234%	$35K	$20K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4898	−0.020%	$12.3M	$6.0M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4885	−0.072%	$44K	$176K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4840	−0.253%	$15.3M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4850	−0.213%	$3.2M	$5.9M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4850	−0.213%	$779K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4850	−0.213%	$887K	$611K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4832	−0.285%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4845	−0.233%	—	$36.2M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4872	−0.124%	$25K	$398K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4892	−0.044%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4882	−0.084%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.4882	−0.084%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5020	+0.470%	$139K	$461K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0648%	1h	2.4894	−0.036%	$351K	$475K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0756%	1h	2.4922	+0.074%	$118K	$306K	20x	as long as short