PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0592%/8h= +64.8% APRnext payment +$0.74 per $10,000 · paid last 24h +0.130%

Price spread now: Coinbase International against Deribit+0.290%59s7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 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 for this trade now. Funding pays +$18 a day on $10k at the current rate, and Coinbase International is 0.290% dearer against Deribit than usual: you sell high and buy low: +$29 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit PENDLE_USDC-PERPETUAL	2.4459	0	get 0.0000% / 1h	42m 25s	$24K	$15K	10x
Short	Coinbase International PENDLE-PERP-INTX	2.4530	0.0592	get 0.0074% / 1h	42m 25s	$154K	$520K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Deribit. 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 DeribitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.290%Rate

Funding earned: $124.32
Price spread: +0.290% → 0.000%: $29.03
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $136.35
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Deribit: no order-book sample; Coinbase International: live order book, 6 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 Deribit no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 6 min ago	12.23 bp	28.2 bp −$28	doesn't fit	doesn't fit	doesn't fit

Deribit: 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	−0.3926%	1h	2.4240	−0.895%	$2K	$54K	5.5x	as long as short
Gate PENDLE_USDT	−0.0052%	8h	2.4470	+0.045%	$719K	$1.1M	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0035%	8h	2.4451	−0.033%	$19K	$15K	10x	as long as short
Extended PENDLE-USD	−0.0008%	1h	2.4441	−0.073%	$158K	$579K	10x	as long as short
MEXC PENDLE_USDT	−0.0008%	8h	2.4437	−0.090%	$17.3M	$2.0M	125x	as long as short
Binance PENDLEUSDT	−0.0007%	8h	2.4442	−0.071%	$25.8M	$44.2M	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4505	+0.188%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUALlong	0.0000%	1h	2.4459	long leg	$24K	$15K	10x
BloFin PENDLE-USDT	+0.0011%	8h	2.4458	−0.004%	$1.1M	$600K	75x	as long as short
ApeX Omni PENDLEUSDT	+0.0068%	1h	2.4489	+0.123%	$74K	$233K	50x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya PENDLERUSDPERP	+0.0073%	1h	2.4436	−0.095%	$3K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.4445	−0.057%	$26K	—	3x	as long as short
Aster PENDLEUSDT	+0.0090%	8h	2.4456	−0.012%	$46K	$171K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0094%	8h	2.4470	+0.045%	$405K	$2.1M	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4470	+0.045%	$516K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4425	−0.140%	$34K	$9K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4475	+0.065%	$12.6M	$6.1M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4430	−0.119%	$14.3M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4470	+0.045%	$3.1M	$6.4M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4483	+0.098%	$862K	$555K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4428	−0.127%	$3.6M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4449	−0.041%	—	$8.4M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4451	−0.034%	$549K	$1.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4469	+0.039%	$24K	$376K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4462	+0.012%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4460	+0.004%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4435	−0.097%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0552%	1h	2.4505	+0.188%	$354K	$402K	15x	as long as short
Coinbase International PENDLE-PERP-INTXshort	+0.0592%	1h	2.4530	+0.290%	$154K	$520K	25x
Kraken Futures PF_PENDLEUSD	+0.1190%	1h	2.4512	+0.216%	$115K	$263K	20x	as long as short