PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.4806%/8h= −526.3% APRnext payment −$6.01 per $10,000 · paid last 24h −0.318%

Price spread now: Injective against dYdX−1.309%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 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 against this trade now: funding costs −$144 a day on $10k at the current rate, and Injective is 1.309% cheaper against dYdX than usual: you would sell low and buy high (−$131 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	dYdX PENDLE-USD	2.5190	0	get 0.0000% / 1h	51m 03s	$11K	—	5x
Short	Injective PENDLE/USDC PERP	2.4860	−0.4806	pay 0.0601% / 1h	51m 03s	$2K	$7K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against dYdX. 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 dYdXbpFee InjectivebpOrdersPrice spread, now −1.309%Rate

Funding earned: −$1,009.3
Price spread: −1.309% → 0.000%: −$130.91
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1,150.22
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: dYdX: no order-book sample; Injective: 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 dYdX no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

dYdX and Injective: 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 PERPshort	−0.4806%	1h	2.4860	−1.309%	$2K	$7K	5.5x
Kraken Futures PF_PENDLEUSD	−0.0430%	1h	2.5153	−0.147%	$145K	$274K	20x	as long as short
dYdX PENDLE-USDlong	0.0000%	1h	2.5190	long leg	$11K	—	5x
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.5167	−0.090%	$30K	$10K	10x	as long as short
Variational Omni PENDLE	+0.0010%	8h	2.5125	−0.258%	$607K	$2.3M	—	as long as short
BloFin PENDLE-USDT	+0.0024%	8h	2.5151	−0.154%	$1.3M	$783K	75x	as long as short
Extended PENDLE-USD	+0.0032%	1h	2.5144	−0.182%	$165K	$524K	10x	as long as short
Reya PENDLERUSDPERP	+0.0034%	1h	2.5150	−0.156%	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.0035%	8h	2.5159	−0.122%	$23K	$8K	10x	as long as short
Binance PENDLEUSDT	+0.0036%	8h	2.5166	−0.094%	$27.5M	$39.0M	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC PENDLE_USDT	+0.0036%	8h	2.5152	−0.150%	$16.9M	$2.2M	125x	as long as short
Aster PENDLEUSDT	+0.0081%	8h	2.5171	−0.076%	$41K	$177K	10x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5151	−0.153%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5160	−0.118%	$551K	$376K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5153	−0.147%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5194	+0.017%	$12.4M	$5.5M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5160	−0.118%	$15.6M	$12.3M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5170	−0.078%	$3.2M	$5.6M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5160	−0.118%	$847K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5163	−0.106%	$907K	$607K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5140	−0.197%	$3.7M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5163	−0.106%	—	$36.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5188	−0.005%	$25K	$412K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5218	+0.112%	$416K	$1.6M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.5202	+0.049%	$77K	$239K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5178	−0.047%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5173	−0.066%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5163	−0.106%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5270	+0.319%	$118K	$440K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0827%	1h	2.5219	+0.116%	$365K	$466K	15x	as long as short