PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0045%/8h= −5.0% APRnext payment −$0.45 per $10,000 · paid last 24h −0.014%

Price spread now: Variational Omni against Bybit+0.334%7-day average −0.011% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.033%−$3 on $10k

Price spread, last 7 days−0.350%−$35 · spread now +0.334%, 7d avg −0.011%

Together, before fees−0.383%+ Points / potential airdropVariational Omni: Active · farm board−$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.345% dearer against Bybit than usual: you sell high and buy low (spread +0.334% now, against its 7-day average of −0.011%): +$34 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 25 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PENDLEUSDT	2.5090	0.0100	pay 0.0100% / 8h	2h 13m	$15.5M	$12.0M	50x
Short	Variational Omni PENDLE	2.5174	0.0055	get 0.0055% / 8h	2h 13m	$619K	$2.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now +0.334%Rate

Funding earned: −$9.5
Price spread: +0.334% → −0.011%: $34.49
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $13.99
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 5 min ago; Variational Omni: RFQ quote, just now. Net counts fees only.

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 Variational Omni RFQ quote, just now	6.71 bp	doesn't fit	48.2 bp −$482	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	2.5200	+0.438%	$2K	$53K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0429%	1h	2.5218	+0.511%	$150K	$277K	20x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0147%	1h	2.5189	+0.395%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5150	+0.239%	$11K	—	5x	as long as short
BloFin PENDLE-USDT	+0.0031%	8h	2.5104	+0.056%	$1.3M	$739K	75x	as long as short
Orderly PERP_PENDLE_USDC	+0.0034%	8h	2.5182	+0.367%	$25K	$11K	10x	as long as short
Reya PENDLERUSDPERP	+0.0037%	1h	2.5174	+0.336%	$4K	—	15x	as long as short
Extended PENDLE-USD	+0.0040%	1h	2.5078	−0.049%	$165K	$524K	10x	as long as short
MEXC PENDLE_USDT	+0.0043%	8h	2.5115	+0.100%	$16.9M	$2.3M	125x	as long as short
Binance PENDLEUSDT	+0.0044%	8h	2.5113	+0.092%	$27.3M	$39.2M	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PENDLEshort	+0.0055%	8h	2.5174	+0.334%	$619K	$2.1M	—
ApeX Omni PENDLEUSDT	+0.0075%	1h	2.5188	+0.391%	$77K	$239K	50x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5113	+0.092%	$545K	$396K	5x	as long as short
Aevo PENDLE-PERP	+0.0096%	1h	2.5171	+0.323%	$26K	—	3x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5089	−0.005%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5157	+0.267%	$12.3M	$5.6M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5139	+0.195%	$41K	$177K	10x	as long as short
Bybit PENDLEUSDTlong	+0.0100%	8h	2.5090	long leg	$15.5M	$12.0M	50x
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5110	+0.080%	$3.2M	$5.7M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5130	+0.159%	$852K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5140	+0.199%	$894K	$606K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5118	+0.112%	$3.7M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5132	+0.167%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5193	+0.410%	$25K	$412K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5173	+0.333%	$425K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5185	+0.379%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5184	+0.375%	$1K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5186	+0.383%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5210	+0.478%	$116K	$419K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0847%	1h	2.5207	+0.466%	$364K	$460K	15x	as long as short