PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0164%/8h= +18.0% APRnext payment +$1.64 per $10,000 · paid last 24h +0.009%

Price spread now: Gate against BloFin−0.390%78s7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as 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−$810.812% of the position

Long on BloFin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.042%+$4 on $10k

Price spread, last 3 days (all we have)+0.304%+$30 · spread now −0.390%, 7d avg −0.044%

Together, before fees+0.346%+$35 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.346% cheaper against BloFin than usual: you would sell low and buy high (spread −0.390% now, against its 7-day average of −0.044%). If the spread goes back, that is −$35 on $10k: about 7.0 days of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.042% in total) that is about 58 days. The two prices were read 78 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	2.5118	−0.0096	get 0.0096% / 8h	6h 55m	$1.3M	$653K	75x
Short	Gate PENDLE_USDT	2.5020	0.0068	get 0.0068% / 8h	6h 55m	$780K	$1.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.390%Rate

Funding earned: $34.45
Price spread: −0.390% → −0.044%: −$34.64
Slippage, 4 orders: −$54.24
Fee BloFin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$81.43
Costs to cover: 0.812%
Break-even: 23.5 days

Slippage from BloFin: live order book, 6 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 BloFin live order book, 6 min ago	1.20 bp	15.0 bp −$15	33.1 bp −$331	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	3.99 bp	32.0 bp −$32	180.6 bp −$1,806	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	−0.4742%	1h	2.4850	−1.067%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.1108%	1h	2.5002	−0.462%	$26K	$14K	10x	as long as short
Bybit PENDLEUSDT	−0.0186%	8h	2.5010	−0.430%	$15.3M	$12.0M	50x	as long as short
GRVT PENDLE_USDT_Perp	−0.0145%	8h	2.5176	+0.232%	$416K	$1.7M	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0142%	1h	2.5174	+0.223%	$77K	$237K	50x	as long as short
Extended PENDLE-USD	−0.0112%	1h	2.5002	−0.461%	$163K	$565K	10x	as long as short
Binance PENDLEUSDT	−0.0110%	8h	2.5010	−0.430%	$27.0M	$43.1M	75x	as long as short
MEXC PENDLE_USDT	−0.0110%	8h	2.5004	−0.454%	$17.1M	$1.8M	125x	as long as short
BloFin PENDLE-USDTlong	−0.0096%	8h	2.5118	long leg	$1.3M	$653K	75x
Variational Omni PENDLE	−0.0035%	8h	2.5006	−0.445%	$596K	$1.8M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PENDLE_USDC	−0.0029%	8h	2.4994	−0.494%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5051	−0.268%	$11K	—	5x	as long as short
Aster PENDLEUSDT	+0.0013%	8h	2.5034	−0.334%	$50K	$181K	10x	as long as short
Reya PENDLERUSDPERP	+0.0052%	1h	2.5021	−0.386%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0056%	1h	2.4991	−0.504%	$26K	—	3x	as long as short
Gate PENDLE_USDTshort	+0.0068%	8h	2.5020	−0.390%	$780K	$1.2M	75x
Lighter PENDLE	+0.0096%	1h	2.4997	−0.482%	$532K	$414K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5029	−0.354%	$35K	$16K	10x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5010	−0.430%	$3.2M	$6.1M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4996	−0.486%	$850K	$591K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4977	−0.561%	$3.8M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5020	−0.390%	—	$33.8M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5160	+0.166%	$25K	$379K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5042	−0.303%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5005	−0.450%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0158% / S −0.0256%	1h	2.5031	−0.348%	$7K	—	100x	as long as short
Hyperliquid PENDLE	+0.0239%	1h	2.5059	−0.235%	$12.9M	$6.4M	5x	as long as short
Backpack PENDLE_USDC_PERP	+0.0247%	1h	2.5052	−0.263%	$351K	$485K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0632%	1h	2.5060	−0.231%	$144K	$464K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0870%	1h	2.5054	−0.256%	$116K	$290K	20x	as long as short