PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0056%/8h= −6.1% APRnext payment −$0.56 per $10,000 · paid last 24h +0.034%

Price spread now: Binance against Bybit+0.048%7-day average +0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$730.735% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.119%+$12 on $10k

Price spread, last 7 days−0.006%−$1 · spread now +0.048%, 7d avg +0.056%

Together, before fees+0.114%+$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.056%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.119%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PENDLEUSDT	2.5089	0.0100	pay 0.0100% / 8h	2h 13m	$15.5M	$12.0M	50x
Short	Binance PENDLEUSDT	2.5101	0.0044	get 0.0044% / 8h	2h 13m	$27.3M	$39.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bybit. 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 BybitbpFee BinancebpOrdersPrice spread, now +0.048%Rate

Funding earned: −$11.77
Price spread: +0.048% → +0.056%: −$0.81
Slippage, 4 orders: −$52.47
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$86.05
Costs to cover: 0.735%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Binance: live order book, 13 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 Bybit live order book, 5 min ago	3.97 bp	22.5 bp −$23	54.7 bp −$547	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	0.79 bp	13.0 bp −$13	31.1 bp −$311	158.0 bp −$15.8K	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	2.5200	+0.442%	$2K	$53K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0429%	1h	2.5218	+0.515%	$150K	$277K	20x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0147%	1h	2.5189	+0.399%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5150	+0.243%	$11K	—	5x	as long as short
BloFin PENDLE-USDT	+0.0031%	8h	2.5104	+0.060%	$1.3M	$739K	75x	as long as short
Orderly PERP_PENDLE_USDC	+0.0034%	8h	2.5182	+0.371%	$25K	$11K	10x	as long as short
Reya PENDLERUSDPERP	+0.0037%	1h	2.5077	−0.047%	$4K	—	15x	as long as short
Extended PENDLE-USD	+0.0040%	1h	2.5078	−0.045%	$165K	$524K	10x	as long as short
MEXC PENDLE_USDT	+0.0043%	8h	2.5115	+0.104%	$16.9M	$2.3M	125x	as long as short
Binance PENDLEUSDTshort	+0.0044%	8h	2.5101	+0.048%	$27.3M	$39.2M	75x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PENDLE	+0.0055%	8h	2.5174	+0.338%	$619K	$2.1M	—	as long as short
ApeX Omni PENDLEUSDT	+0.0077%	1h	2.5130	+0.163%	$77K	$239K	50x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5113	+0.096%	$545K	$396K	5x	as long as short
Aevo PENDLE-PERP	+0.0096%	1h	2.5171	+0.327%	$26K	—	3x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5089	−0.001%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5113	+0.096%	$12.3M	$5.6M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5139	+0.199%	$41K	$177K	10x	as long as short
Bybit PENDLEUSDTlong	+0.0100%	8h	2.5089	long leg	$15.5M	$12.0M	50x
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5080	−0.036%	$3.2M	$5.7M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5130	+0.163%	$852K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5140	+0.203%	$894K	$606K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5077	−0.048%	$3.7M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5132	+0.171%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5135	+0.183%	$25K	$413K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5173	+0.337%	$425K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5111	+0.088%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5184	+0.379%	$1K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5186	+0.387%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5210	+0.482%	$116K	$419K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0847%	1h	2.5207	+0.470%	$364K	$460K	15x	as long as short