PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0046%/8h= +5.0% APRnext payment +$0.46 per $10,000 · paid last 24h −0.033%

Price spread now: Bybit against BloFin−0.539%112s7-day average −0.051% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$620.623% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.116%−$12 on $10k

Price spread, last 3 days (all we have)+0.245%+$24 · spread now −0.539%, 7d avg −0.051%

Together, before fees+0.129%+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.488% cheaper against BloFin than usual: you would sell low and buy high (spread −0.539% now, against its 7-day average of −0.051%). If the spread goes back, that is −$49 on $10k: about 35 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.116%, so the current rate has only just turned in your favour. The two prices were read 112 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PENDLE-USDT	2.5226	0.0054	pay 0.0054% / 8h	2h 57m	$1.3M	$797K	75x
Short	Bybit PENDLEUSDT	2.5090	0.0100	get 0.0100% / 8h	2h 57m	$15.5M	$12.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BloFin. 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 BloFinbpFee BybitbpOrdersPrice spread, now −0.539%Rate

Funding earned: $9.67
Price spread: −0.539% → −0.051%: −$48.77
Slippage, 4 orders: −$39.3
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$101.4
Costs to cover: 0.623%
Break-even: 80.4 days

Slippage from BloFin: live order book, 5 min ago; Bybit: 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 BloFin live order book, 5 min ago	1.78 bp	10.9 bp −$11	23.1 bp −$231	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	1.99 bp	17.0 bp −$17	62.1 bp −$621	926.5 bp −$92.6K	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	−0.4806%	1h	2.4970	−1.015%	$2K	$7K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0430%	1h	2.5177	−0.195%	$159K	$254K	20x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0108%	1h	2.5133	−0.369%	$30K	$11K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5210	−0.063%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0009%	8h	2.5225	−0.002%	$612K	$2.3M	—	as long as short
Reya PENDLERUSDPERP	+0.0033%	1h	2.5109	−0.464%	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.0035%	8h	2.5130	−0.381%	$23K	$8K	10x	as long as short
MEXC PENDLE_USDT	+0.0037%	8h	2.5095	−0.519%	$16.9M	$2.2M	125x	as long as short
Binance PENDLEUSDT	+0.0038%	8h	2.5125	−0.400%	$27.4M	$38.6M	75x	as long as short
Extended PENDLE-USD	+0.0040%	1h	2.5160	−0.260%	$166K	$524K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin PENDLE-USDTlong	+0.0054%	8h	2.5226	long leg	$1.3M	$797K	75x
Aster PENDLEUSDT	+0.0067%	8h	2.5190	−0.142%	$41K	$176K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0073%	1h	2.5241	+0.059%	$77K	$239K	50x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5124	−0.403%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5168	−0.230%	$551K	$375K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5156	−0.277%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5166	−0.238%	$12.4M	$5.5M	5x	as long as short
Bybit PENDLEUSDTshort	+0.0100%	8h	2.5090	−0.539%	$15.5M	$12.3M	50x
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5110	−0.460%	$3.3M	$5.6M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5100	−0.499%	$849K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5144	−0.325%	$911K	$605K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5107	−0.472%	$3.7M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5109	−0.464%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5237	+0.044%	$25K	$411K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5226	−0.001%	$429K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5193	−0.131%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5135	−0.361%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0275%	1h	2.5121	−0.416%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5240	+0.055%	$118K	$438K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0562%	1h	2.5222	−0.016%	$363K	$464K	15x	as long as short