PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0097%/8h= −10.7% APRnext payment −$0.97 per $10,000 · paid last 24h −0.009%

Price spread now: BloFin against Gate−0.085%48s7-day average +0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$680.683% of the position

Long on Gate Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.042%−$4 on $10k

Price spread, last 4 days (all we have)+0.371%+$37 · spread now −0.085%, 7d avg +0.045%

Together, before fees+0.330%+$33 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and BloFin is 0.129% cheaper against Gate than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.045%). Swap the legs. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PENDLE_USDT	2.4830	−0.0007	get 0.0007% / 8h	5h 44m	$723K	$1.1M	75x
Short	BloFin PENDLE-USDT	2.4809	−0.0104	pay 0.0104% / 8h	5h 44m	—	$645K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Gate. 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 GatebpFee BloFinbpOrdersPrice spread, now −0.085%Rate

Funding earned: −$20.44
Price spread: −0.085% → +0.045%: −$12.94
Slippage, 4 orders: −$41.27
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$101.65
Costs to cover: 0.683%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; BloFin: live order book, 68 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 Gate live order book, 3 min ago	4.04 bp	20.3 bp −$20	168.1 bp −$1,681	doesn't fit	doesn't fit
Sell BloFin live order book, 68 min ago	0.99 bp	14.9 bp −$15	35.2 bp −$352	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	−0.4938%	1h	2.4490	−1.369%	$2K	$54K	5.5x	as long as short
Extended PENDLE-USD	−0.0128%	1h	2.4823	−0.029%	$163K	$568K	10x	as long as short
MEXC PENDLE_USDT	−0.0127%	8h	2.4851	+0.085%	$17.2M	$1.8M	125x	as long as short
ApeX Omni PENDLEUSDT	−0.0126%	1h	2.4850	+0.081%	$76K	$235K	50x	as long as short
Binance PENDLEUSDT	−0.0126%	8h	2.4841	+0.044%	$26.7M	$43.0M	75x	as long as short
BloFin PENDLE-USDTshort	−0.0104%	8h	2.4809	−0.085%	—	$645K	75x
GRVT PENDLE_USDT_Perp	−0.0068%	8h	2.4733	−0.390%	$410K	$1.7M	10x	as long as short
Aster PENDLEUSDT	−0.0065%	8h	2.4824	−0.026%	$47K	$175K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0039%	8h	2.4843	+0.052%	$19K	$15K	10x	as long as short
Variational Omni PENDLE	−0.0019%	8h	2.4691	−0.561%	$544K	$1.8M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENDLE_USDTlong	−0.0007%	8h	2.4830	long leg	$723K	$1.1M	75x
dYdX PENDLE-USD	0.0000%	1h	2.4818	−0.049%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4851	+0.085%	$26K	$14K	10x	as long as short
Aevo PENDLE-PERP	+0.0048%	1h	2.4835	+0.021%	$26K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0058%	1h	2.4834	+0.018%	$4K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4841	+0.044%	$529K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4826	−0.016%	$35K	$15K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4854	+0.097%	$12.6M	$6.0M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4834	+0.016%	$14.9M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4860	+0.121%	$3.1M	$6.1M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4838	+0.032%	$845K	$575K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4842	+0.048%	$3.7M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4841	+0.044%	—	$33.6M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4747	−0.334%	$24K	$380K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4853	+0.093%	$16K	$8K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4865	+0.141%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0190% / S −0.0313%	1h	2.4843	+0.053%	$7K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0327%	1h	2.4858	+0.113%	$354K	$481K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0552%	1h	2.4900	+0.282%	$149K	$491K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0753%	1h	2.4894	+0.257%	$116K	$283K	20x	as long as short