PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0077%/8h= +8.4% APRnext payment +$0.77 per $10,000 · paid last 24h −0.017%

Price spread now: GRVT against Binance+0.035%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$510.509% of the position

Long on Binance Short on GRVT

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)+0.211%+$21 · spread now +0.035%, 7d avg −0.016%

Together, before fees+0.199%+ Points / potential airdropGRVT: Active · farm board+$20 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 GRVT is 0.052% dearer against Binance than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PENDLEUSDT	2.5216	−0.0027	get 0.0027% / 8h	34m 51s	$27.3M	$41.9M	75x
Short	GRVT PENDLE_USDT_Perp	2.5225	0.0050	get 0.0050% / 8h	34m 51s	$418K	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.035%Rate

Funding earned: $16.12
Price spread: +0.035% → −0.016%: $5.17
Slippage, 4 orders: −$31.86
Fee Binance: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$29.57
Costs to cover: 0.509%
Break-even: 19.8 days

Slippage from Binance: live order book, 7 min ago; GRVT: 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 Binance live order book, 7 min ago	0.40 bp	13.5 bp −$14	28.1 bp −$281	doesn't fit	doesn't fit
Sell GRVT live order book, 3 min ago	1.59 bp	9.7 bp −$10	27.5 bp −$275	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	−0.5000%	1h	2.4940	−1.094%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0503%	1h	2.5223	+0.028%	$30K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0090%	1h	2.5215	−0.003%	$77K	$239K	50x	as long as short
BloFin PENDLE-USDT	−0.0054%	8h	2.5198	−0.071%	$1.3M	$752K	75x	as long as short
Binance PENDLEUSDTlong	−0.0027%	8h	2.5216	long leg	$27.3M	$41.9M	75x
MEXC PENDLE_USDT	−0.0026%	8h	2.5215	−0.003%	$17.1M	$1.9M	125x	as long as short
Extended PENDLE-USD	−0.0024%	1h	2.5206	−0.037%	$166K	$528K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5242	+0.103%	$11K	—	5x	as long as short
Orderly PERP_PENDLE_USDC	0.0000%	8h	2.5214	−0.007%	$20K	$16K	10x	as long as short
Variational Omni PENDLE	+0.0043%	8h	2.5187	−0.114%	$594K	$1.9M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya PENDLERUSDPERP	+0.0045%	1h	2.5204	−0.047%	$4K	—	15x	as long as short
GRVT PENDLE_USDT_Perpshort	+0.0050%	8h	2.5225	+0.035%	$418K	$1.6M	10x
Aevo PENDLE-PERP	+0.0072%	1h	2.5215	−0.003%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5228	+0.048%	$531K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5203	−0.052%	$35K	$18K	10x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5238	+0.089%	$46K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5202	−0.055%	$15.5M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5200	−0.063%	$3.3M	$6.1M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5210	−0.023%	$783K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5245	+0.116%	$893K	$600K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5197	−0.075%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5216	+0.001%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5204	−0.048%	$25K	$396K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5228	+0.048%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5210	−0.023%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5229	+0.053%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0225%	1h	2.5282	+0.262%	$12.7M	$6.1M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0594%	1h	2.5277	+0.241%	$120K	$299K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+0.492%	$141K	$458K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0835%	1h	2.5267	+0.203%	$329K	$491K	15x	as long as short