PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC−0.0738%/8h= −80.8% APRnext payment −$7.38 per $10,000 · paid last 24h −0.011%

Price spread now: GRVT against Bitget−0.881%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$139as in the Price arb table

costs, in and out, $10k−$530.526% of the position

Long on Bitget Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.043%−$4 on $10k

Price spread, last 7 days+0.676%+$68 · spread now −0.881%, 7d avg −0.014%

Together, before fees+0.633%+ Points / potential airdropGRVT: Active · farm board+$63 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and GRVT is 0.867% cheaper against Bitget than usual: you would sell low and buy high (−$87 if the spread goes back to its 7-day average of −0.014%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.043% in total (about -2.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$7.38 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENDLEUSDT	2.4383	0.0100	pay 0.0100% / 8h	7h 23m	$3.8M	$2.4M	75x
Short	GRVT PENDLE_USDT_Perp	2.4168	−0.0638	pay 0.0638% / 8h	7h 23m	$407K	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Bitget. 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 BitgetbpFee GRVTbpOrdersPrice spread, now −0.881%Rate

Funding earned: −$154.98
Price spread: −0.881% → −0.014%: −$86.71
Slippage, 4 orders: −$31.55
Fee Bitget: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$294.25
Costs to cover: 0.526%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; GRVT: live order book, 5 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 Bitget live order book, 5 min ago	2.90 bp	14.1 bp −$14	28.5 bp −$285	doesn't fit	doesn't fit
Sell GRVT live order book, 5 min ago	0.62 bp	12.6 bp −$13	doesn't fit	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	−0.3627%	1h	2.3970	−1.694%	$2K	$55K	5.5x	as long as short
GRVT PENDLE_USDT_Perpshort	−0.0638%	8h	2.4168	−0.881%	$407K	$2.7M	10x
BloFin PENDLE-USDT	−0.0104%	8h	2.4342	−0.168%	$1.1M	$508K	75x	as long as short
Gate PENDLE_USDT	−0.0102%	8h	2.4320	−0.258%	$770K	$993K	75x	as long as short
Binance PENDLEUSDT	−0.0099%	8h	2.4339	−0.181%	$25.5M	$46.3M	75x	as long as short
MEXC PENDLE_USDT	−0.0099%	8h	2.4347	−0.148%	$18.0M	$2.1M	125x	as long as short
Extended PENDLE-USD	−0.0096%	1h	2.4323	−0.248%	$161K	$934K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0064%	1h	2.4177	−0.845%	$74K	$231K	50x	as long as short
Orderly PERP_PENDLE_USDC	−0.0012%	8h	2.4337	−0.189%	$18K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4208	−0.719%	$10K	—	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4350	−0.135%	$25K	$14K	10x	as long as short
Aster PENDLEUSDT	+0.0015%	8h	2.4341	−0.172%	$47K	$171K	10x	as long as short
Aevo PENDLE-PERP	+0.0056%	1h	2.4346	−0.151%	$25K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0089%	1h	2.4313	−0.289%	$3K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4366	−0.070%	$526K	$430K	5x	as long as short
Bybit PENDLEUSDT	+0.0097%	8h	2.4341	−0.172%	$14.2M	$11.9M	50x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4306	−0.318%	$34K	$3K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4350	−0.135%	$12.7M	$6.0M	5x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4390	+0.029%	$3.1M	$6.7M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4330	−0.217%	$699K	$601K	50x	as long as short
Bitget PENDLEUSDTlong	+0.0100%	8h	2.4383	long leg	$3.8M	$2.4M	75x
BingX PENDLE-USDT	+0.0100%	8h	2.4366	−0.070%	—	$8.2M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4110	−1.118%	$562K	$1.2M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4162	−0.906%	$22K	$369K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4320	−0.258%	$16K	$4K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4378	−0.021%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0151% / S −0.0168%	1h	2.4357	−0.107%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0664%	1h	2.4390	+0.029%	$169K	$525K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0715%	1h	2.4445	+0.254%	$361K	$430K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1275%	1h	2.4351	−0.129%	$115K	$255K	20x	as long as short