PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0801%/8h= +87.7% APRnext payment +$1.00 per $10,000 · paid last 24h +0.096%

Price spread now: GMX against Deribit+0.035%7-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 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 for this trade now. Funding pays +$24 a day on $10k at the current rate, and GMX is 0.035% dearer against Deribit than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit PENDLE_USDC-PERPETUAL	2.5146	−0.0545	get 0.0068% / 1h	31m 03s	$26K	$14K	10x
Short	GMX PENDLE/USD [PENDLE-USDC]	2.5155	L +0.0158% / S −0.0256%	get 0.0032% / 1h	31m 03s	$7K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.035%Rate

Funding earned: $168.18
Price spread: +0.035% → 0.000%: $3.52
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee GMX: 6 bp × 2 orders: −$12
Net: $152.7
Costs to cover: 0.190%
Break-even: 0.6 days

Slippage unknown: Deribit: no order-book sample; 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 Deribit no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Deribit and 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 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	2.4830	−1.257%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUALlong	−0.0545%	1h	2.5146	long leg	$26K	$14K	10x
ApeX Omni PENDLEUSDT	−0.0249%	1h	2.5126	−0.080%	$77K	$236K	50x	as long as short
GRVT PENDLE_USDT_Perp	−0.0124%	8h	2.5140	−0.023%	$417K	$1.7M	10x	as long as short
Extended PENDLE-USD	−0.0120%	1h	2.5114	−0.126%	$167K	$566K	10x	as long as short
Binance PENDLEUSDT	−0.0119%	8h	2.5127	−0.076%	$27.1M	$43.4M	75x	as long as short
MEXC PENDLE_USDT	−0.0118%	8h	2.5130	−0.064%	$17.4M	$1.8M	125x	as long as short
Bybit PENDLEUSDT	−0.0090%	8h	2.5110	−0.143%	$15.3M	$12.1M	50x	as long as short
Variational Omni PENDLE	−0.0043%	8h	2.5131	−0.059%	$599K	$1.8M	—	as long as short
Orderly PERP_PENDLE_USDC	−0.0036%	8h	2.5134	−0.048%	$20K	$16K	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENDLEUSDT	−0.0007%	8h	2.5159	+0.053%	$50K	$181K	10x	as long as short
Gate PENDLE_USDT	−0.0002%	8h	2.5120	−0.103%	$763K	$1.2M	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5157	+0.044%	$11K	—	5x	as long as short
Aevo PENDLE-PERP	+0.0048%	1h	2.5129	−0.069%	$26K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0054%	1h	2.5135	−0.044%	$4K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5134	−0.048%	$535K	$414K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5127	−0.074%	$35K	$16K	10x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5120	−0.103%	$3.2M	$6.2M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5138	−0.032%	$868K	$595K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5139	−0.028%	$3.8M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5113	−0.131%	—	$33.8M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5129	−0.069%	$25K	$381K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5157	+0.044%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5135	−0.044%	$2K	$1.8M	20x	as long as short
Hyperliquid PENDLE	+0.0106%	1h	2.5172	+0.103%	$12.9M	$6.4M	5x	as long as short
GMX PENDLE/USD [PENDLE-USDC]short	L +0.0158% / S −0.0256%	1h	2.5155	+0.035%	$7K	—	100x
Backpack PENDLE_USDC_PERP	+0.0375%	1h	2.5173	+0.107%	$353K	$482K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0632%	1h	2.5220	+0.294%	$146K	$472K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0865%	1h	2.5193	+0.187%	$117K	$290K	20x	as long as short