PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0062%/8h= −6.8% APRnext payment −$0.62 per $10,000 · paid last 24h +0.034%

Price spread now: MEXC against Bybit+0.095%7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$560.564% of the position

Long on Bybit Short on MEXC

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−0.070%−$7 · spread now +0.095%, 7d avg +0.050%

Together, before fees+0.048%+$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.046% dearer against Bybit than usual: you sell high and buy low (spread +0.095% now, against its 7-day average of +0.050%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.4 days. 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	2.5160	0.0100	pay 0.0100% / 8h	2h 46m	$15.6M	$12.2M	50x
Short	MEXC PENDLE_USDT	2.5184	0.0038	get 0.0038% / 8h	2h 46m	$16.9M	$2.2M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.095%Rate

Funding earned: −$13.02
Price spread: +0.095% → +0.050%: $4.55
Slippage, 4 orders: −$41.36
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$64.82
Costs to cover: 0.564%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; MEXC: live order book, 2 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	1.99 bp	23.3 bp −$23	58.8 bp −$588	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	0.20 bp	4.7 bp −$5	31.0 bp −$310	86.3 bp −$8,633	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	−1.192%	$2K	$7K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0430%	1h	2.5200	+0.158%	$150K	$279K	20x	as long as short
ApeX Omni PENDLEUSDT	−0.0001%	1h	2.5150	−0.040%	$77K	$239K	50x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5210	+0.199%	$11K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.5170	+0.040%	$30K	$10K	10x	as long as short
Variational Omni PENDLE	+0.0011%	8h	2.5135	−0.099%	$608K	$2.3M	—	as long as short
BloFin PENDLE-USDT	+0.0023%	8h	2.5153	−0.028%	$1.3M	$768K	75x	as long as short
Reya PENDLERUSDPERP	+0.0034%	1h	2.5189	+0.115%	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.0036%	8h	2.5192	+0.127%	$23K	$8K	10x	as long as short
MEXC PENDLE_USDTshort	+0.0038%	8h	2.5184	+0.095%	$16.9M	$2.2M	125x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended PENDLE-USD	+0.0040%	1h	2.5147	−0.052%	$165K	$524K	10x	as long as short
Binance PENDLEUSDT	+0.0040%	8h	2.5184	+0.095%	$27.5M	$38.9M	75x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5159	−0.003%	$26K	—	3x	as long as short
Aster PENDLEUSDT	+0.0090%	8h	2.5183	+0.090%	$41K	$177K	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5170	+0.040%	$551K	$376K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5156	−0.017%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5225	+0.258%	$12.4M	$5.6M	5x	as long as short
Bybit PENDLEUSDTlong	+0.0100%	8h	2.5160	long leg	$15.6M	$12.2M	50x
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5190	+0.119%	$3.2M	$5.6M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5190	+0.119%	$848K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5182	+0.087%	$908K	$608K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5188	+0.111%	$3.8M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5176	+0.064%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5184	+0.095%	$25K	$413K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5182	+0.087%	$416K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5202	+0.167%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5195	+0.139%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5195	+0.141%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5260	+0.397%	$118K	$438K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0909%	1h	2.5219	+0.234%	$365K	$466K	15x	as long as short