PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0035%/8h= −3.9% APRnext payment −$0.35 per $10,000 · paid last 24h +0.033%

Price spread now: BloFin against Bybit−0.008%52s7-day average +0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as 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−$610.607% of the position

Long on Bybit Short on BloFin

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)+0.302%+$30 · spread now −0.008%, 7d avg +0.051%

Together, before fees+0.418%+$42 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 0.059% cheaper against Bybit than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.051%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.116%, so the current rate has only just turned against you. The two prices were read 52 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	Bybit PENDLEUSDT	2.5183	0.0100	pay 0.0100% / 8h	2h 48m	$15.6M	$12.3M	50x
Short	BloFin PENDLE-USDT	2.5181	0.0065	get 0.0065% / 8h	2h 48m	$1.3M	$784K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.008%Rate

Funding earned: −$7.45
Price spread: −0.008% → +0.051%: −$5.94
Slippage, 4 orders: −$37.66
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$74.05
Costs to cover: 0.607%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; BloFin: live order book, 4 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	1.99 bp	20.1 bp −$20	74.4 bp −$744	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	0.40 bp	10.6 bp −$11	25.8 bp −$258	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	−0.4806%	1h	2.4860	−1.283%	$2K	$7K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0430%	1h	2.5179	−0.017%	$145K	$274K	20x	as long as short
ApeX Omni PENDLEUSDT	−0.0001%	1h	2.5150	−0.131%	$77K	$239K	50x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5210	+0.107%	$11K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.5203	+0.079%	$30K	$10K	10x	as long as short
Variational Omni PENDLE	+0.0011%	8h	2.5135	−0.190%	$608K	$2.3M	—	as long as short
Reya PENDLERUSDPERP	+0.0034%	1h	2.5202	+0.074%	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.0036%	8h	2.5205	+0.087%	$23K	$8K	10x	as long as short
MEXC PENDLE_USDT	+0.0037%	8h	2.5202	+0.075%	$16.9M	$2.2M	125x	as long as short
Binance PENDLEUSDT	+0.0039%	8h	2.5202	+0.075%	$27.5M	$39.0M	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended PENDLE-USD	+0.0040%	1h	2.5189	+0.025%	$165K	$524K	10x	as long as short
BloFin PENDLE-USDTshort	+0.0065%	8h	2.5181	−0.008%	$1.3M	$784K	75x
Aster PENDLEUSDT	+0.0088%	8h	2.5206	+0.089%	$41K	$177K	10x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5200	+0.069%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5201	+0.071%	$552K	$376K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5202	+0.074%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5237	+0.214%	$12.4M	$5.6M	5x	as long as short
Bybit PENDLEUSDTlong	+0.0100%	8h	2.5183	long leg	$15.6M	$12.3M	50x
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5200	+0.068%	$3.2M	$5.6M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5210	+0.107%	$849K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5204	+0.083%	$909K	$608K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5186	+0.012%	$3.8M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5191	+0.032%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5188	+0.021%	$25K	$412K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5164	−0.077%	$415K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5220	+0.147%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5206	+0.091%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5210	+0.108%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5260	+0.306%	$118K	$440K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0884%	1h	2.5250	+0.266%	$366K	$466K	15x	as long as short