PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0668%/8h= +73.1% APRnext payment +$0.83 per $10,000 · paid last 24h +0.337%

Price spread now: Kraken Futures against Extended+0.234%7-day average +0.223% · you sell dearer than you buy

Net, funding: paid 7d − costs−$137as in the Funding arb table

Net, price: spread back to 7d avg − costs−$161as in the Price arb table

costs, in and out, $10k−$1621.621% of the position

Long on Extended Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.255%+$26 on $10k

Price spread, last 3 days (all we have)−0.136%−$14 · spread now +0.234%, 7d avg +0.223%

Together, before fees+0.119%+ Points / potential airdropExtended: Active · farm board+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.223%, so right now this pair is about funding alone: +$20 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.255% in total (about 13.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.83 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENDLE-USD	2.5138	−0.0072	get 0.0009% / 1h	3m 16s	$165K	$528K	10x
Short	Kraken Futures PF_PENDLEUSD	2.5196	0.0596	get 0.0074% / 1h	3m 16s	$119K	$298K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.234%Rate

Funding earned: $140.23
Price spread: +0.234% → +0.223%: $1.1
Slippage, 4 orders: −$147.14
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$20.82
Costs to cover: 1.621%
Break-even: 8.0 days

Slippage from Extended: live order book, 10 min ago; Kraken Futures: live order book, 9 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, 10 min ago	1.19 bp	13.9 bp −$14	104.5 bp −$1,045	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 9 min ago	13.91 bp	50.3 bp −$50	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	−0.5000%	1h	2.4940	−0.786%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0266%	1h	2.5170	+0.129%	$28K	$11K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0087%	1h	2.5118	−0.078%	$77K	$239K	50x	as long as short
MEXC PENDLE_USDT	−0.0073%	8h	2.5157	+0.077%	$17.0M	$1.9M	125x	as long as short
Binance PENDLEUSDT	−0.0072%	8h	2.5151	+0.053%	$27.2M	$42.3M	75x	as long as short
Extended PENDLE-USDlong	−0.0072%	1h	2.5138	long leg	$165K	$528K	10x
BloFin PENDLE-USDT	−0.0055%	8h	2.5103	−0.138%	$1.3M	$707K	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0010%	8h	2.5160	+0.089%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5143	+0.022%	$11K	—	5x	as long as short
GRVT PENDLE_USDT_Perp	+0.0014%	8h	2.5109	−0.114%	$425K	$1.6M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PENDLE	+0.0021%	8h	2.5077	−0.243%	$596K	$1.9M	—	as long as short
Reya PENDLERUSDPERP	+0.0047%	1h	2.5151	+0.055%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.5148	+0.040%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5141	+0.014%	$530K	$416K	5x	as long as short
Aster PENDLEUSDT	+0.0098%	8h	2.5149	+0.047%	$47K	$178K	10x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5144	+0.025%	$35K	$18K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5144	+0.025%	$15.5M	$12.0M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5140	+0.010%	$3.2M	$6.0M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5130	−0.030%	$775K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5153	+0.061%	$884K	$600K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5129	−0.034%	$3.7M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5149	+0.045%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5130	−0.032%	$25K	$382K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5185	+0.189%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5158	+0.081%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5167	+0.117%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0283%	1h	2.5197	+0.236%	$12.8M	$6.2M	5x	as long as short
Kraken Futures PF_PENDLEUSDshort	+0.0596%	1h	2.5196	+0.234%	$119K	$298K	20x
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+0.805%	$141K	$449K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0683%	1h	2.5213	+0.300%	$331K	$489K	15x	as long as short