PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.1304%/8h= +142.8% APRnext payment +$1.63 per $10,000 · paid last 24h +0.355%

Price spread now: Kraken Futures against Deribit+0.300%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 Kraken Futures

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 +$39 a day on $10k at the current rate, and Kraken Futures is 0.300% dearer against Deribit than usual: you sell high and buy low: +$30 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	2.4502	−0.0117	get 0.0015% / 1h	22m 04s	$24K	$15K	10x
Short	Kraken Futures PF_PENDLEUSD	2.4575	0.1187	get 0.0148% / 1h	22m 04s	$115K	$262K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.300%Rate

Funding earned: $273.92
Price spread: +0.300% → 0.000%: $29.97
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $286.89
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Deribit: no order-book sample; Kraken Futures: live order book, 25 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 Kraken Futures live order book, 25 min ago	12.26 bp	46.2 bp −$46	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	2.4200	−1.233%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUALlong	−0.0117%	1h	2.4502	long leg	$24K	$15K	10x
Orderly PERP_PENDLE_USDC	−0.0036%	8h	2.4503	+0.004%	$19K	$15K	10x	as long as short
Gate PENDLE_USDT	−0.0025%	8h	2.4490	−0.049%	$719K	$1.1M	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4476	−0.106%	$10K	—	5x	as long as short
MEXC PENDLE_USDT	+0.0023%	8h	2.4510	+0.033%	$17.4M	$2.0M	125x	as long as short
Extended PENDLE-USD	+0.0024%	1h	2.4493	−0.035%	$157K	$577K	10x	as long as short
Binance PENDLEUSDT	+0.0026%	8h	2.4510	+0.031%	$25.9M	$44.3M	75x	as long as short
BloFin PENDLE-USDT	+0.0032%	8h	2.4483	−0.078%	$1.1M	$601K	75x	as long as short
Reya PENDLERUSDPERP	+0.0074%	1h	2.4507	+0.019%	$3K	—	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PENDLE-PERP	+0.0088%	1h	2.4495	−0.029%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4505	+0.012%	$516K	$416K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4495	−0.030%	$34K	$9K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4562	+0.245%	$12.6M	$6.1M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4502	−0.001%	$46K	$171K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4510	+0.033%	$14.3M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4530	+0.114%	$3.1M	$6.5M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4504	+0.008%	$864K	$555K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4513	+0.045%	$3.7M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4512	+0.041%	—	$8.4M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4441	−0.249%	$549K	$1.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4427	−0.308%	$24K	$371K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.4483	−0.078%	$405K	$2.2M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4429	−0.298%	$74K	$234K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4526	+0.098%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4501	−0.004%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4506	+0.018%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.4570	+0.278%	$155K	$524K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0729%	1h	2.4563	+0.249%	$356K	$401K	15x	as long as short
Kraken Futures PF_PENDLEUSDshort	+0.1187%	1h	2.4575	+0.300%	$115K	$262K	20x