PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0576%/8h= −63.0% APRnext payment −$0.72 per $10,000 · paid last 24h −0.031%

Price spread now: Reya against Coinbase International−0.142%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 Reya

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—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Reya is 0.142% cheaper against Coinbase International than usual: you would sell low and buy high (−$14 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	2.5140	0.0632	pay 0.0079% / 1h	5m 53s	$144K	$472K	25x
Short	Reya PENDLERUSDPERP	2.5104	0.0056	get 0.0007% / 1h	5m 53s	$4K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.142%Rate

Funding earned: −$120.86
Price spread: −0.142% → 0.000%: −$14.16
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$151.02
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 62 min ago; Reya: 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, 62 min ago	11.82 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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 29 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	−0.4742%	1h	2.4870	−1.074%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0546%	1h	2.5110	−0.119%	$26K	$14K	10x	as long as short
Extended PENDLE-USD	−0.0136%	1h	2.5058	−0.327%	$163K	$570K	10x	as long as short
Binance PENDLEUSDT	−0.0134%	8h	2.5075	−0.259%	$27.0M	$43.4M	75x	as long as short
MEXC PENDLE_USDT	−0.0134%	8h	2.5078	−0.247%	$17.3M	$1.8M	125x	as long as short
ApeX Omni PENDLEUSDT	−0.0129%	1h	2.5074	−0.263%	$77K	$236K	50x	as long as short
GRVT PENDLE_USDT_Perp	−0.0124%	8h	2.5065	−0.299%	$421K	$1.7M	10x	as long as short
Gate PENDLE_USDT	−0.0067%	8h	2.5080	−0.239%	$758K	$1.2M	75x	as long as short
Aster PENDLEUSDT	−0.0043%	8h	2.5110	−0.120%	$50K	$181K	10x	as long as short
Variational Omni PENDLE	−0.0040%	8h	2.5086	−0.216%	$613K	$1.8M	—	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PENDLE_USDC	−0.0038%	8h	2.5102	−0.151%	$20K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5120	−0.080%	$11K	—	5x	as long as short
Bybit PENDLEUSDT	+0.0002%	8h	2.5076	−0.255%	$15.2M	$12.0M	50x	as long as short
Aevo PENDLE-PERP	+0.0048%	1h	2.5098	−0.166%	$26K	—	3x	as long as short
Reya PENDLERUSDPERPshort	+0.0056%	1h	2.5104	−0.142%	$4K	—	15x
Lighter PENDLE	+0.0096%	1h	2.5105	−0.139%	$535K	$416K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5095	−0.179%	$35K	$16K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5121	−0.075%	$12.9M	$6.3M	5x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5060	−0.318%	$3.2M	$6.1M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5093	−0.187%	$862K	$593K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5058	−0.326%	$3.8M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5089	−0.203%	—	$33.6M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5057	−0.328%	$25K	$379K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5124	−0.064%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5124	−0.064%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0158% / S −0.0256%	1h	2.5123	−0.069%	$7K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0405%	1h	2.5137	−0.012%	$352K	$481K	15x	as long as short
Coinbase International PENDLE-PERP-INTXlong	+0.0632%	1h	2.5140	long leg	$144K	$472K	25x
Kraken Futures PF_PENDLEUSD	+0.0866%	1h	2.5161	+0.082%	$117K	$289K	20x	as long as short