PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0679%/8h= −74.3% APRnext payment −$0.85 per $10,000 · paid last 24h −0.119%

Price spread now: Aevo against Backpack−0.386%7-day average — · you buy dearer than you sell

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

Long on Backpack Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and Aevo is 0.386% cheaper against Backpack than usual: you would sell low and buy high (−$39 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack PENDLE_USDC_PERP	2.5130	0.0743	pay 0.0093% / 1h	18m 43s	$363K	$488K	15x
Short	Aevo PENDLE-PERP	2.5033	0.0064	get 0.0008% / 1h	18m 43s	$26K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Backpack. 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 BackpackbpFee AevobpOrdersPrice spread, now −0.386%Rate

Funding earned: −$142.54
Price spread: −0.386% → 0.000%: −$38.6
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$207.14
Costs to cover: 0.260%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 45 min ago; Aevo: 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 Backpack live order book, 45 min ago	1.59 bp	7.2 bp −$7	35.4 bp −$354	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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	−0.4938%	1h	2.4520	−2.427%	$2K	$54K	5.5x	as long as short
Extended PENDLE-USD	−0.0080%	1h	2.5057	−0.290%	$163K	$570K	10x	as long as short
MEXC PENDLE_USDT	−0.0078%	8h	2.5074	−0.223%	$17.5M	$1.9M	125x	as long as short
Binance PENDLEUSDT	−0.0075%	8h	2.5075	−0.219%	$26.8M	$43.5M	75x	as long as short
BloFin PENDLE-USDT	−0.0054%	8h	2.5058	−0.287%	$1.3M	$653K	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0035%	8h	2.5065	−0.259%	$20K	$15K	10x	as long as short
Aster PENDLEUSDT	−0.0023%	8h	2.5086	−0.175%	$48K	$177K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5075	−0.219%	$11K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.5051	−0.314%	$26K	$14K	10x	as long as short
Variational Omni PENDLE	+0.0011%	8h	2.4945	−0.735%	$561K	$1.8M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENDLE_USDT	+0.0035%	8h	2.5070	−0.239%	$726K	$1.1M	75x	as long as short
GRVT PENDLE_USDT_Perp	+0.0059%	8h	2.4892	−0.947%	$416K	$1.8M	10x	as long as short
Reya PENDLERUSDPERP	+0.0060%	1h	2.5061	−0.275%	$4K	—	15x	as long as short
Aevo PENDLE-PERPshort	+0.0064%	1h	2.5033	−0.386%	$26K	—	3x
Lighter PENDLE	+0.0096%	1h	2.5076	−0.215%	$535K	$418K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5067	−0.249%	$35K	$15K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5102	−0.111%	$12.8M	$6.0M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5070	−0.239%	$15.0M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5080	−0.199%	$3.2M	$6.2M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5086	−0.175%	$856K	$573K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5082	−0.191%	$3.8M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5101	−0.115%	—	$33.5M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4941	−0.754%	$25K	$378K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4958	−0.684%	$76K	$235K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5083	−0.187%	$16K	$8K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5060	−0.279%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0158% / S −0.0257%	1h	2.5059	−0.285%	$7K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0552%	1h	2.5090	−0.159%	$148K	$496K	25x	as long as short
Backpack PENDLE_USDC_PERPlong	+0.0743%	1h	2.5130	long leg	$363K	$488K	15x
Kraken Futures PF_PENDLEUSD	+0.0746%	1h	2.5114	−0.065%	$117K	$280K	20x	as long as short