PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0071%/8h= +7.8% APRnext payment +$0.71 per $10,000 · paid last 24h −0.006%

Price spread now: Gate against Binance+0.139%7-day average −0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$760.755% of the position

Long on Binance Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 4 days (all we have)−0.241%−$24 · spread now +0.139%, 7d avg −0.040%

Together, before fees−0.230%−$23 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 Gate is 0.179% dearer against Binance than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of −0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PENDLEUSDT	2.5005	0.0029	pay 0.0029% / 8h	1h 41m	$27.2M	$40.1M	75x
Short	Gate PENDLE_USDT	2.5040	0.0100	get 0.0100% / 8h	1h 41m	$786K	$1.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.139%Rate

Funding earned: $15.01
Price spread: +0.139% → −0.040%: $17.88
Slippage, 4 orders: −$50.53
Fee Binance: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$42.65
Costs to cover: 0.755%
Break-even: 26.9 days

Slippage from Binance: live order book, 16 min ago; Gate: live order book, 1 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	1.20 bp	11.8 bp −$12	29.0 bp −$290	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	4.00 bp	25.3 bp −$25	203.1 bp −$2,031	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	−0.941%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0669%	1h	2.4994	−0.045%	$29K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5046	+0.164%	$11K	—	5x	as long as short
ApeX Omni PENDLEUSDT	+0.0019%	1h	2.4955	−0.201%	$76K	$240K	50x	as long as short
Orderly PERP_PENDLE_USDC	+0.0027%	8h	2.4997	−0.033%	$20K	$16K	10x	as long as short
Binance PENDLEUSDTlong	+0.0029%	8h	2.5005	long leg	$27.2M	$40.1M	75x
MEXC PENDLE_USDT	+0.0029%	8h	2.4997	−0.033%	$16.9M	$2.1M	125x	as long as short
Extended PENDLE-USD	+0.0032%	1h	2.4982	−0.093%	$164K	$526K	10x	as long as short
Reya PENDLERUSDPERP	+0.0039%	1h	2.5002	−0.014%	$4K	—	15x	as long as short
BloFin PENDLE-USDT	+0.0050%	8h	2.4979	−0.105%	$1.3M	$730K	75x	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	+0.0064%	8h	2.5033	+0.111%	$603K	$2.0M	—	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.4987	−0.071%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5010	+0.019%	$525K	$422K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5019	+0.056%	$35K	$20K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5057	+0.207%	$12.3M	$5.9M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5017	+0.049%	$42K	$175K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4990	−0.061%	$15.4M	$11.8M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4990	−0.061%	$3.2M	$5.8M	50x	as long as short
Gate PENDLE_USDTshort	+0.0100%	8h	2.5040	+0.139%	$786K	$1.1M	75x
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5033	+0.111%	$893K	$623K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5034	+0.115%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5024	+0.075%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5003	−0.008%	$25K	$409K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.4964	−0.163%	$412K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5040	+0.139%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5021	+0.063%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5023	+0.070%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5100	+0.379%	$139K	$461K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0753%	1h	2.5027	+0.089%	$147K	$278K	20x	as long as short
Backpack PENDLE_USDC_PERP	+0.0789%	1h	2.5095	+0.359%	$357K	$461K	15x	as long as short