PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0060%/8h= +6.6% APRnext payment +$0.07 per $10,000 · paid last 24h +0.014%

Price spread now: Hyperliquid against Extended+0.161%7-day average +0.189% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$530.529% of the position

Long on Extended Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

Price spread, last 4 days (all we have)+0.091%+$9 · spread now +0.161%, 7d avg +0.189%

Together, before fees+0.169%+ Points / potential airdropExtended: Active · Hyperliquid: Season 2 · farm board+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.029% cheaper against Extended than usual: you would sell low and buy high (spread +0.161% now, against its 7-day average of +0.189%). If the spread goes back, that is −$3 on $10k: about 38 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENDLE-USD	2.5181	0.0040	pay 0.0005% / 1h	41m 38s	$165K	$524K	10x
Short	Hyperliquid PENDLE	2.5221	0.0100	get 0.0013% / 1h	41m 38s	$12.4M	$5.6M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Extended. 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 ExtendedbpFee HyperliquidbpOrdersPrice spread, now +0.161%Rate

Funding earned: $12.6
Price spread: +0.161% → +0.189%: −$2.86
Slippage, 4 orders: −$38.92
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$43.18
Costs to cover: 0.529%
Break-even: 31.0 days

Slippage from Extended: live order book, 46 min ago; Hyperliquid: live order book, 11 min ago.

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 Extended live order book, 46 min ago	1.18 bp	13.8 bp −$14	123.9 bp −$1,239	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 11 min ago	0.20 bp	12.0 bp −$12	doesn't fit	doesn't fit	doesn't fit

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	−1.273%	$2K	$7K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0429%	1h	2.5251	+0.281%	$150K	$280K	20x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0107%	1h	2.5205	+0.097%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5194	+0.053%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0015%	8h	2.5150	−0.121%	$608K	$2.3M	—	as long as short
Reya PENDLERUSDPERP	+0.0034%	1h	2.5191	+0.042%	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.0036%	8h	2.5193	+0.049%	$23K	$8K	10x	as long as short
Extended PENDLE-USDlong	+0.0040%	1h	2.5181	long leg	$165K	$524K	10x
MEXC PENDLE_USDT	+0.0041%	8h	2.5186	+0.022%	$16.9M	$2.2M	125x	as long as short
Binance PENDLEUSDT	+0.0043%	8h	2.5196	+0.062%	$27.5M	$39.1M	75x	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	+0.0064%	8h	2.5193	+0.049%	$1.3M	$769K	75x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5191	+0.041%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5192	+0.045%	$545K	$385K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5190	+0.036%	$35K	$22K	10x	as long as short
Hyperliquid PENDLEshort	+0.0100%	1h	2.5221	+0.161%	$12.4M	$5.6M	5x
Aster PENDLEUSDT	+0.0100%	8h	2.5200	+0.076%	$41K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5187	+0.026%	$15.6M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5210	+0.117%	$3.3M	$5.7M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5190	+0.038%	$847K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5197	+0.065%	$913K	$609K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5176	−0.018%	$3.7M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5195	+0.057%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5181	+0.002%	$25K	$414K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5123	−0.230%	$422K	$1.6M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.5196	+0.061%	$77K	$239K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5210	+0.117%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5206	+0.101%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5203	+0.089%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5270	+0.355%	$118K	$439K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0874%	1h	2.5250	+0.276%	$366K	$467K	15x	as long as short