PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0714%/8h= −78.2% APRpaid last 24h −0.044%

Price spread now: Variational Omni against Coinbase International−0.371%7-day average −0.109% · you buy dearer than you sell

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

Long on Coinbase International Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.077%−$8 on $10k

Price spread, last 3 days (all we have)+0.240%+$24 · spread now −0.371%, 7d avg −0.109%

Together, before fees+0.163%+ Points / potential airdropVariational Omni: Active · farm board+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Variational Omni is 0.262% cheaper against Coinbase International than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of −0.109%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.077% in total (about -8.4% a year). A funding rate is set anew for every payment. 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	2.5320	0.0728	pay 0.0091% / 1h	44m 24s	$141K	$440K	25x
Short	Variational Omni PENDLE	2.5226	0.0014	get 0.0014% / 8h	7h 44m	$604K	$1.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.371%Rate

Funding earned: −$149.94
Price spread: −0.371% → −0.109%: −$26.19
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$186.12
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 29 min ago; Variational Omni: RFQ quote, 5 min ago. 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, 29 min ago	13.90 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	6.70 bp	doesn't fit	32.0 bp −$320	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	−0.4643%	1h	2.4860	−1.817%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0144%	1h	2.5349	+0.115%	$26K	$14K	10x	as long as short
BloFin PENDLE-USDT	−0.0106%	8h	2.5356	+0.142%	$1.3M	$714K	75x	as long as short
ApeX Omni PENDLEUSDT	−0.0098%	1h	2.5215	−0.415%	$77K	$238K	50x	as long as short
Extended PENDLE-USD	−0.0080%	1h	2.5374	+0.214%	$170K	$667K	10x	as long as short
MEXC PENDLE_USDT	−0.0076%	8h	2.5380	+0.237%	$17.1M	$1.9M	125x	as long as short
Binance PENDLEUSDT	−0.0074%	8h	2.5380	+0.237%	$27.4M	$42.6M	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0014%	8h	2.5344	+0.095%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5396	+0.300%	$11K	—	5x	as long as short
Variational Omni PENDLEshort	+0.0014%	8h	2.5226	−0.371%	$604K	$1.9M	—

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT PENDLE_USDT_Perp	+0.0026%	8h	2.5260	−0.237%	$417K	$1.6M	10x	as long as short
Gate PENDLE_USDT	+0.0048%	8h	2.5380	+0.237%	$783K	$1.2M	75x	as long as short
Reya PENDLERUSDPERP	+0.0049%	1h	2.5375	+0.216%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.5338	+0.071%	$26K	—	3x	as long as short
Bybit PENDLEUSDT	+0.0083%	8h	2.5365	+0.178%	$15.6M	$12.1M	50x	as long as short
Aster PENDLEUSDT	+0.0087%	8h	2.5379	+0.234%	$47K	$178K	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5390	+0.276%	$538K	$413K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5382	+0.246%	$35K	$18K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5438	+0.466%	$12.9M	$6.3M	5x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5370	+0.197%	$3.2M	$6.1M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5390	+0.276%	$891K	$593K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5380	+0.237%	$3.8M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5369	+0.194%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5225	−0.375%	$25K	$382K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5400	+0.316%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5358	+0.150%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0203% / S −0.0382%	1h	2.5389	+0.273%	$7K	—	100x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0613%	1h	2.5412	+0.362%	$118K	$295K	20x	as long as short
Coinbase International PENDLE-PERP-INTXlong	+0.0728%	1h	2.5320	long leg	$141K	$440K	25x
Backpack PENDLE_USDC_PERP	+0.0821%	1h	2.5425	+0.415%	$334K	$487K	15x	as long as short