PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0045%/8h= −4.9% APRnext payment −$0.45 per $10,000 · paid last 24h +0.008%

Price spread now: GRVT against Bybit+0.312%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$580.580% of the position

Long on Bybit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.099%+$10 on $10k

Price spread, last 3 days (all we have)−0.067%−$7 · spread now +0.312%, 7d avg +0.027%

Together, before fees+0.032%+ Points / potential airdropGRVT: Active · farm board+$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GRVT is 0.286% dearer against Bybit than usual: you sell high and buy low (spread +0.312% now, against its 7-day average of +0.027%): +$29 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 21 days. Mind the row above: over the last 7 days funding on this pair paid +0.099%, 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	2.5290	0.0089	pay 0.0089% / 8h	7h 42m	$15.6M	$12.1M	50x
Short	GRVT PENDLE_USDT_Perp	2.5369	0.0044	get 0.0044% / 8h	7h 42m	$429K	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.312%Rate

Funding earned: −$9.41
Price spread: +0.312% → +0.027%: $28.59
Slippage, 4 orders: −$38.03
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$38.85
Costs to cover: 0.580%
Break-even: never at this rate

Slippage from Bybit: live order book, just now; GRVT: live order book, just now.

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, just now	1.98 bp	17.0 bp −$17	46.6 bp −$466	266.3 bp −$26.6K	doesn't fit
Sell GRVT live order book, just now	1.78 bp	9.7 bp −$10	24.2 bp −$242	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	−0.4643%	1h	2.4970	−1.265%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0618%	1h	2.5328	+0.150%	$26K	$14K	10x	as long as short
BloFin PENDLE-USDT	−0.0076%	8h	2.5289	−0.004%	$1.3M	$712K	75x	as long as short
Binance PENDLEUSDT	−0.0074%	8h	2.5290	−0.002%	$27.3M	$42.7M	75x	as long as short
MEXC PENDLE_USDT	−0.0074%	8h	2.5297	+0.028%	$17.1M	$1.9M	125x	as long as short
Extended PENDLE-USD	−0.0072%	1h	2.5323	+0.130%	$165K	$686K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0054%	1h	2.5317	+0.107%	$77K	$238K	50x	as long as short
Gate PENDLE_USDT	−0.0042%	8h	2.5330	+0.158%	$782K	$1.2M	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0014%	8h	2.5337	+0.186%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5361	+0.281%	$11K	—	5x	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	+0.0014%	8h	2.5226	−0.253%	$604K	$1.9M	—	as long as short
GRVT PENDLE_USDT_Perpshort	+0.0044%	8h	2.5369	+0.312%	$429K	$1.6M	10x
Reya PENDLERUSDPERP	+0.0049%	1h	2.5337	+0.185%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.5330	+0.156%	$26K	—	3x	as long as short
Bybit PENDLEUSDTlong	+0.0089%	8h	2.5290	long leg	$15.6M	$12.1M	50x
Aster PENDLEUSDT	+0.0091%	8h	2.5326	+0.142%	$47K	$178K	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5324	+0.134%	$536K	$413K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5327	+0.147%	$35K	$18K	10x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5270	−0.079%	$3.2M	$6.1M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5347	+0.225%	$890K	$593K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5322	+0.127%	$3.8M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5303	+0.051%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5320	+0.119%	$25K	$383K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5367	+0.304%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5339	+0.194%	$2K	$1.8M	20x	as long as short
Hyperliquid PENDLE	+0.0103%	1h	2.5347	+0.225%	$12.9M	$6.3M	5x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0203% / S −0.0382%	1h	2.5352	+0.245%	$7K	—	100x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0614%	1h	2.5356	+0.260%	$118K	$295K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0728%	1h	2.5360	+0.277%	$141K	$441K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0885%	1h	2.5340	+0.198%	$333K	$487K	15x	as long as short