PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h +0.029%

Price spread now: Lighter against dYdX+0.087%7-day average — · you sell dearer than you buy

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

Long on dYdX Short on Lighter

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—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Lighter is 0.087% dearer against dYdX than usual: you sell high and buy low: +$9 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	dYdX PENDLE-USD	2.5184	0	get 0.0000% / 1h	43m 34s	$11K	—	5x
Short	Lighter PENDLE	2.5206	0.0096	get 0.0012% / 1h	43m 34s	$552K	$376K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.087%Rate

Funding earned: $20.16
Price spread: +0.087% → 0.000%: $8.74
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $18.9
Costs to cover: 0.100%
Break-even: 0.4 days

Slippage unknown: dYdX: no order-book sample; Lighter: live order book, 40 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 dYdX no order-book sample	—	—	—	—	—
Sell Lighter live order book, 40 min ago	8.07 bp	12.6 bp −$13	85.1 bp −$851	doesn't fit	doesn't fit

dYdX: 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	−0.4806%	1h	2.4860	−1.287%	$2K	$7K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0429%	1h	2.5235	+0.204%	$150K	$279K	20x	as long as short
dYdX PENDLE-USDlong	0.0000%	1h	2.5184	long leg	$11K	—	5x
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.5192	+0.032%	$30K	$10K	10x	as long as short
Variational Omni PENDLE	+0.0015%	8h	2.5150	−0.134%	$608K	$2.3M	—	as long as short
Reya PENDLERUSDPERP	+0.0034%	1h	2.5196	+0.048%	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.0035%	8h	2.5186	+0.008%	$23K	$8K	10x	as long as short
Binance PENDLEUSDT	+0.0040%	8h	2.5203	+0.077%	$27.5M	$39.1M	75x	as long as short
Extended PENDLE-USD	+0.0040%	1h	2.5184	+0.001%	$165K	$524K	10x	as long as short
MEXC PENDLE_USDT	+0.0040%	8h	2.5199	+0.060%	$16.9M	$2.2M	125x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin PENDLE-USDT	+0.0061%	8h	2.5150	−0.135%	$1.3M	$768K	75x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5179	−0.022%	$26K	—	3x	as long as short
Lighter PENDLEshort	+0.0096%	1h	2.5206	+0.087%	$552K	$376K	5x
Aster PENDLEUSDT	+0.0097%	8h	2.5203	+0.076%	$41K	$177K	10x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5194	+0.039%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5234	+0.199%	$12.4M	$5.6M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5190	+0.024%	$15.6M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5230	+0.183%	$3.3M	$5.7M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5190	+0.024%	$847K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5196	+0.048%	$909K	$607K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5187	+0.012%	$3.8M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5200	+0.064%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5181	−0.012%	$25K	$414K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5123	−0.244%	$422K	$1.6M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.5196	+0.048%	$77K	$239K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5225	+0.163%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5197	+0.052%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5195	+0.045%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5240	+0.222%	$118K	$438K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0886%	1h	2.5230	+0.183%	$365K	$466K	15x	as long as short