PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0057%/8h= +6.2% APRnext payment +$0.57 per $10,000 · paid last 24h −0.034%

Price spread now: Bybit against Binance−0.024%7-day average −0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$560.557% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.119%−$12 on $10k

Price spread, last 7 days−0.019%−$2 · spread now −0.024%, 7d avg −0.056%

Together, before fees−0.138%−$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bybit is 0.032% dearer against Binance than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.056%. Mind the row above: over the last 7 days funding on this pair cost −0.119%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PENDLEUSDT	2.5106	0.0043	pay 0.0043% / 8h	1h 56m	$27.2M	$39.6M	75x
Short	Bybit PENDLEUSDT	2.5100	0.0100	get 0.0100% / 8h	1h 56m	$15.5M	$11.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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 BinancebpFee BybitbpOrdersPrice spread, now −0.024%Rate

Funding earned: $11.88
Price spread: −0.024% → −0.056%: $3.24
Slippage, 4 orders: −$34.74
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$40.61
Costs to cover: 0.557%
Break-even: 30.9 days

Slippage from Binance: live order book, 16 min ago; Bybit: live order book, 2 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 Binance live order book, 16 min ago	0.20 bp	11.8 bp −$12	32.2 bp −$322	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	2.00 bp	15.8 bp −$16	45.4 bp −$454	279.2 bp −$27.9K	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	−1.338%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0068%	1h	2.5113	+0.028%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5119	+0.052%	$11K	—	5x	as long as short
Orderly PERP_PENDLE_USDC	+0.0032%	8h	2.5108	+0.008%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0038%	1h	2.5109	+0.013%	$4K	—	15x	as long as short
Extended PENDLE-USD	+0.0040%	1h	2.5096	−0.039%	$165K	$524K	10x	as long as short
MEXC PENDLE_USDT	+0.0043%	8h	2.5101	−0.020%	$16.9M	$2.1M	125x	as long as short
Binance PENDLEUSDTlong	+0.0043%	8h	2.5106	long leg	$27.2M	$39.6M	75x
Variational Omni PENDLE	+0.0053%	8h	2.5054	−0.207%	$615K	$2.1M	—	as long as short
BloFin PENDLE-USDT	+0.0068%	8h	2.5140	+0.136%	$1.3M	$732K	75x	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	+0.0077%	1h	2.5038	−0.271%	$76K	$240K	50x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5101	−0.021%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5110	+0.016%	$527K	$421K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5109	+0.011%	$35K	$20K	10x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5117	+0.044%	$41K	$172K	10x	as long as short
Bybit PENDLEUSDTshort	+0.0100%	8h	2.5100	−0.024%	$15.5M	$11.9M	50x
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5110	+0.016%	$3.2M	$5.8M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5110	+0.016%	$857K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5117	+0.044%	$895K	$608K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5092	−0.055%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5111	+0.020%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5048	−0.232%	$25K	$409K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5032	−0.295%	$422K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5127	+0.084%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5118	+0.048%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5112	+0.025%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0255%	1h	2.5152	+0.184%	$12.4M	$5.7M	5x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5180	+0.295%	$117K	$417K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0749%	1h	2.5161	+0.219%	$150K	$274K	20x	as long as short
Backpack PENDLE_USDC_PERP	+0.1354%	1h	2.5163	+0.227%	$358K	$460K	15x	as long as short