PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0129%/8h= −14.1% APRnext payment −$1.29 per $10,000 · paid last 24h +0.028%

Price spread now: Gate against Bybit−0.186%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$810.814% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.145%+$14 on $10k

Price spread, last 7 days+0.151%+$15 · spread now −0.186%, 7d avg 0.000%

Together, before fees+0.295%+$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Gate is 0.186% cheaper against Bybit than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of 0.000%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.145%, 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	2.4716	0.0100	pay 0.0100% / 8h	4h 31m	$14.6M	$12.1M	50x
Short	Gate PENDLE_USDT	2.4670	−0.0029	pay 0.0029% / 8h	4h 31m	$721K	$1.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.186%Rate

Funding earned: −$27.09
Price spread: −0.186% → 0.000%: −$18.62
Slippage, 4 orders: −$55.43
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$127.14
Costs to cover: 0.814%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 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 Bybit live order book, 2 min ago	4.05 bp	15.2 bp −$15	47.4 bp −$474	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	4.05 bp	26.5 bp −$26	132.7 bp −$1,327	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	−0.4334%	1h	2.4340	−1.521%	$2K	$54K	5.5x	as long as short
BloFin PENDLE-USDT	−0.0075%	8h	2.4703	−0.053%	$1.2M	$630K	75x	as long as short
Extended PENDLE-USD	−0.0056%	1h	2.4706	−0.040%	$159K	$574K	10x	as long as short
MEXC PENDLE_USDT	−0.0053%	8h	2.4717	+0.004%	$17.3M	$2.0M	125x	as long as short
Binance PENDLEUSDT	−0.0049%	8h	2.4718	+0.008%	$26.2M	$44.0M	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0036%	8h	2.4695	−0.085%	$19K	$15K	10x	as long as short
Aster PENDLEUSDT	−0.0033%	8h	2.4701	−0.060%	$46K	$178K	10x	as long as short
Gate PENDLE_USDTshort	−0.0029%	8h	2.4670	−0.186%	$721K	$1.1M	75x
dYdX PENDLE-USD	0.0000%	1h	2.4680	−0.144%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4697	−0.077%	$25K	$14K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PENDLE	+0.0043%	8h	2.4586	−0.527%	$552K	$1.6M	—	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4686	−0.123%	$26K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0064%	1h	2.4680	−0.144%	$3K	—	15x	as long as short
GRVT PENDLE_USDT_Perp	+0.0089%	8h	2.4622	−0.381%	$407K	$1.9M	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4720	+0.016%	$518K	$424K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4722	+0.024%	$35K	$13K	10x	as long as short
Bybit PENDLEUSDTlong	+0.0100%	8h	2.4716	long leg	$14.6M	$12.1M	50x
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4730	+0.057%	$3.1M	$6.1M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4686	−0.121%	$867K	$581K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4698	−0.073%	$3.7M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4716	0.000%	—	$8.6M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4614	−0.414%	$24K	$378K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4713	−0.012%	$75K	$235K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4706	−0.040%	$16K	$8K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4694	−0.089%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4688	−0.114%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0430%	1h	2.4766	+0.202%	$12.8M	$6.0M	5x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0608%	1h	2.4770	+0.218%	$148K	$497K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0668%	1h	2.4743	+0.109%	$358K	$470K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1177%	1h	2.4704	−0.048%	$115K	$277K	20x	as long as short