PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0105%/8h= +11.5% APRnext payment +$1.05 per $10,000 · paid last 24h +0.017%

Price spread now: KuCoin against Binance+0.041%7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$124as in the Funding arb table

Net, price: spread back to 7d avg − costs−$126as in the Price arb table

costs, in and out, $10k−$1321.323% of the position

Long on Binance Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.084%+$8 on $10k

Price spread, last 7 days−0.138%−$14 · spread now +0.041%, 7d avg −0.027%

Together, before fees−0.054%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and KuCoin is 0.067% dearer against Binance than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PENDLEUSDT	2.4399	−0.0005	get 0.0005% / 8h	2h 38m	$25.7M	$44.3M	75x
Short	KuCoin PENDLEUSDTM	2.4409	0.0100	get 0.0100% / 8h	2h 38m	$859K	$553K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.041%Rate

Funding earned: $22.05
Price spread: +0.041% → −0.027%: $6.72
Slippage, 4 orders: −$110.29
Fee Binance: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$103.51
Costs to cover: 1.323%
Break-even: 39.9 days

Slippage from Binance: live order book, 4 min ago; KuCoin: live order book, 56 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, 4 min ago	0.82 bp	14.3 bp −$14	29.4 bp −$294	doesn't fit	doesn't fit
Sell KuCoin live order book, 56 min ago	6.50 bp	59.9 bp −$60	127.8 bp −$1,278	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	−0.3926%	1h	2.4240	−0.652%	$2K	$54K	5.5x	as long as short
Gate PENDLE_USDT	−0.0045%	8h	2.4390	−0.037%	$715K	$1.1M	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0035%	8h	2.4402	+0.012%	$19K	$15K	10x	as long as short
BloFin PENDLE-USDT	−0.0012%	8h	2.4366	−0.136%	$1.1M	$598K	75x	as long as short
Extended PENDLE-USD	−0.0008%	1h	2.4391	−0.033%	$157K	$581K	10x	as long as short
Binance PENDLEUSDTlong	−0.0005%	8h	2.4399	long leg	$25.7M	$44.3M	75x
MEXC PENDLE_USDT	−0.0005%	8h	2.4406	+0.028%	$17.3M	$2.0M	125x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4376	−0.093%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4405	+0.024%	$24K	$15K	10x	as long as short
Reya PENDLERUSDPERP	+0.0073%	1h	2.4419	+0.080%	$3K	—	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PENDLE-PERP	+0.0080%	1h	2.4386	−0.052%	$25K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4410	+0.045%	$514K	$415K	5x	as long as short
GRVT PENDLE_USDT_Perp	+0.0097%	8h	2.4410	+0.047%	$407K	$2.1M	10x	as long as short
Aster PENDLEUSDT	+0.0099%	8h	2.4396	−0.011%	$46K	$171K	10x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4382	−0.070%	$34K	$9K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4448	+0.201%	$12.6M	$6.1M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4399	0.000%	$14.3M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4430	+0.127%	$3.1M	$6.4M	50x	as long as short
KuCoin PENDLEUSDTMshort	+0.0100%	8h	2.4409	+0.041%	$859K	$553K	50x
Bitget PENDLEUSDT	+0.0100%	8h	2.4374	−0.103%	$3.6M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4391	−0.033%	—	$8.4M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4411	+0.049%	$548K	$1.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4457	+0.237%	$24K	$373K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4435	+0.147%	$74K	$233K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4444	+0.184%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4403	+0.016%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4400	+0.004%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0539%	1h	2.4422	+0.094%	$354K	$403K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.4440	+0.168%	$153K	$519K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1192%	1h	2.4487	+0.360%	$115K	$263K	20x	as long as short