PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0012%/8h= +1.4% APRnext payment +$0.12 per $10,000 · paid last 24h +0.001%

Price spread now: MEXC against BloFin+0.045%49s7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as 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−$350.350% of the position

Long on BloFin Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.193%−$19 · spread now +0.045%, 7d avg +0.008%

Together, before fees−0.192%−$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and MEXC is 0.037% dearer against BloFin than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.008%. The two prices were read 49 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	2.4684	−0.0060	get 0.0060% / 8h	4h 00m	$1.2M	$593K	75x
Short	MEXC PENDLE_USDT	2.4695	−0.0048	pay 0.0048% / 8h	4h 00m	$17.4M	$2.0M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.045%Rate

Funding earned: $2.6
Price spread: +0.045% → +0.008%: $3.68
Slippage, 4 orders: −$19.04
Fee BloFin: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$28.77
Costs to cover: 0.350%
Break-even: 84.5 days

Slippage from BloFin: live order book, 2 min ago; MEXC: 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 BloFin live order book, 2 min ago	1.62 bp	12.9 bp −$13	23.6 bp −$236	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	1.21 bp	5.7 bp −$6	32.2 bp −$322	99.0 bp −$9,898	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	−0.4334%	1h	2.4350	−1.353%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0236%	1h	2.4704	+0.081%	$25K	$14K	10x	as long as short
BloFin PENDLE-USDTlong	−0.0060%	8h	2.4684	long leg	$1.2M	$593K	75x
Binance PENDLEUSDT	−0.0049%	8h	2.4695	+0.044%	$26.2M	$43.6M	75x	as long as short
Extended PENDLE-USD	−0.0048%	1h	2.4687	+0.013%	$159K	$578K	10x	as long as short
MEXC PENDLE_USDTshort	−0.0048%	8h	2.4695	+0.045%	$17.4M	$2.0M	125x
Aster PENDLEUSDT	−0.0042%	8h	2.4731	+0.190%	$47K	$179K	10x	as long as short
Gate PENDLE_USDT	−0.0040%	8h	2.4720	+0.146%	$720K	$1.1M	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0039%	8h	2.4688	+0.016%	$19K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4717	+0.135%	$10K	—	5x	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	+0.0064%	1h	2.4689	+0.020%	$26K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0067%	1h	2.4693	+0.037%	$3K	—	15x	as long as short
Variational Omni PENDLE	+0.0074%	8h	2.4726	+0.169%	$555K	$1.4M	—	as long as short
GRVT PENDLE_USDT_Perp	+0.0077%	8h	2.4709	+0.101%	$417K	$1.9M	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4710	+0.105%	$518K	$429K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4691	+0.028%	$35K	$13K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4690	+0.024%	$14.6M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4690	+0.024%	$3.1M	$6.3M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4740	+0.227%	$870K	$556K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4703	+0.077%	$3.7M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4731	+0.190%	—	$8.5M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4709	+0.100%	$24K	$378K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4730	+0.186%	$75K	$235K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4720	+0.146%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4789	+0.425%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4704	+0.082%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0338%	1h	2.4745	+0.247%	$12.8M	$6.0M	5x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0608%	1h	2.4740	+0.227%	$147K	$497K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0688%	1h	2.4756	+0.292%	$360K	$421K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1175%	1h	2.4750	+0.269%	$115K	$268K	20x	as long as short