PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.5482%/8h= −600.3% APRnext payment −$6.85 per $10,000 · paid last 24h −1.070%

Price spread now: Injective against Coinbase International−1.562%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 Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−1.443%−$144 on $10k

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 −$164 a day on $10k at the current rate, and Injective is 1.562% cheaper against Coinbase International than usual: you would sell low and buy high (−$156 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.443% in total (about -75.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$6.85 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International PENDLE-PERP-INTX	2.4320	0.0672	pay 0.0084% / 1h	14m 28s	$157K	$509K	25x
Short	Injective PENDLE/USDC PERP	2.3940	−0.4810	pay 0.0601% / 1h	14m 28s	$2K	$54K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Coinbase International. 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 Coinbase InternationalbpFee InjectivebpOrdersPrice spread, now −1.562%Rate

Funding earned: −$1,151.32
Price spread: −1.562% → 0.000%: −$156.25
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1,317.59
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 24 min ago; Injective: 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, 24 min ago	6.16 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 PERPshort	−0.4810%	1h	2.3940	−1.562%	$2K	$54K	5.5x
Deribit PENDLE_USDC-PERPETUAL	−0.0285%	1h	2.4277	−0.177%	$25K	$16K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0014%	8h	2.4268	−0.214%	$18K	$15K	10x	as long as short
BloFin PENDLE-USDT	−0.0006%	8h	2.4262	−0.238%	$1.1M	$502K	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4306	−0.059%	$10K	—	5x	as long as short
Extended PENDLE-USD	+0.0008%	1h	2.4273	−0.195%	$158K	$927K	10x	as long as short
MEXC PENDLE_USDT	+0.0009%	8h	2.4283	−0.152%	$18.0M	$2.1M	125x	as long as short
Binance PENDLEUSDT	+0.0012%	8h	2.4283	−0.153%	$25.5M	$46.1M	75x	as long as short
GRVT PENDLE_USDT_Perp	+0.0078%	8h	2.4230	−0.369%	$405K	$2.5M	10x	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.4265	−0.227%	$25K	—	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENDLE_USDT	+0.0082%	8h	2.4270	−0.206%	$760K	$1.1M	75x	as long as short
Reya PENDLERUSDPERP	+0.0085%	1h	2.4275	−0.184%	$3K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4288	−0.132%	$523K	$432K	5x	as long as short
ApeX Omni PENDLEUSDT	+0.0097%	1h	2.4241	−0.325%	$74K	$232K	50x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4281	−0.161%	$34K	$5K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4322	+0.008%	$12.7M	$6.1M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4280	−0.165%	$47K	$171K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4273	−0.193%	$14.1M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4300	−0.082%	$3.1M	$6.7M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4278	−0.173%	$721K	$617K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4296	−0.099%	$3.8M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4278	−0.173%	—	$8.2M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4266	−0.221%	$565K	$1.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4263	−0.233%	$24K	$370K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4322	+0.008%	$16K	$4K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4301	−0.078%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4282	−0.157%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0628%	1h	2.4323	+0.012%	$351K	$435K	15x	as long as short
Coinbase International PENDLE-PERP-INTXlong	+0.0672%	1h	2.4320	long leg	$157K	$509K	25x
Kraken Futures PF_PENDLEUSD	+0.1525%	1h	2.4313	−0.030%	$115K	$262K	20x	as long as short