PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0315%/8h= −34.5% APRnext payment −$0.39 per $10,000 · paid last 24h +0.076%

Price spread now: GMX against Coinbase International−0.072%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and GMX is 0.072% cheaper against Coinbase International than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International PENDLE-PERP-INTX	2.5030	0.0592	pay 0.0074% / 1h	50m 11s	$117K	$413K	25x
Short	GMX PENDLE/USD [PENDLE-USDC]	2.5012	L +0.0200% / S −0.0277%	get 0.0035% / 1h	50m 11s	$5K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Coinbase International. 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 Coinbase InternationalbpFee GMXbpOrdersPrice spread, now −0.072%Rate

Funding earned: −$66.09
Price spread: −0.072% → 0.000%: −$7.2
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$95.29
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 33 min ago; GMX: no order-book sample. 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 Coinbase International live order book, 33 min ago	11.85 bp	20.7 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.3656%	1h	2.4770	−1.039%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0509%	1h	2.5003	−0.108%	$29K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5058	+0.111%	$11K	—	5x	as long as short
Orderly PERP_PENDLE_USDC	+0.0031%	8h	2.4997	−0.132%	$20K	$16K	10x	as long as short
BloFin PENDLE-USDT	+0.0037%	8h	2.5026	−0.016%	$1.3M	$728K	75x	as long as short
Binance PENDLEUSDT	+0.0038%	8h	2.5023	−0.028%	$27.2M	$39.6M	75x	as long as short
Reya PENDLERUSDPERP	+0.0038%	1h	2.5001	−0.115%	$4K	—	15x	as long as short
Extended PENDLE-USD	+0.0040%	1h	2.4975	−0.219%	$165K	$524K	10x	as long as short
MEXC PENDLE_USDT	+0.0040%	8h	2.5018	−0.048%	$16.9M	$2.1M	125x	as long as short
Variational Omni PENDLE	+0.0065%	8h	2.5028	−0.008%	$604K	$2.1M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PENDLE-PERP	+0.0088%	1h	2.4994	−0.143%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4995	−0.140%	$524K	$421K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5031	+0.004%	$35K	$20K	10x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5004	−0.104%	$41K	$171K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5011	−0.076%	$15.5M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5040	+0.040%	$3.2M	$5.7M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5020	−0.040%	$853K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4993	−0.148%	$891K	$605K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5011	−0.076%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5022	−0.032%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5057	+0.109%	$25K	$411K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5164	+0.535%	$424K	$1.6M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.5072	+0.168%	$76K	$239K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5044	+0.056%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5005	−0.100%	$1K	$1.7M	20x	as long as short
Hyperliquid PENDLE	+0.0147%	1h	2.5068	+0.152%	$12.4M	$5.6M	5x	as long as short
GMX PENDLE/USD [PENDLE-USDC]short	L +0.0200% / S −0.0277%	1h	2.5012	−0.072%	$5K	—	100x
Coinbase International PENDLE-PERP-INTXlong	+0.0592%	1h	2.5030	long leg	$117K	$413K	25x
Kraken Futures PF_PENDLEUSD	+0.0753%	1h	2.5009	−0.085%	$149K	$273K	20x	as long as short
Backpack PENDLE_USDC_PERP	+0.0854%	1h	2.5062	+0.128%	$357K	$460K	15x	as long as short