PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0825%/8h= −90.4% APRnext payment −$1.03 per $10,000 · paid last 24h −0.074%

Price spread now: Deribit against GMX−0.069%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 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 −$25 a day on $10k at the current rate, and Deribit is 0.069% cheaper against GMX than usual: you would sell low and buy high (−$7 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	GMX PENDLE/USD [PENDLE-USDC]	2.5129	L +0.0200% / S −0.0277%	pay 0.0025% / 1h	53m 58s	$5K	—	100x
Short	Deribit PENDLE_USDC-PERPETUAL	2.5112	−0.0625	pay 0.0078% / 1h	53m 58s	$30K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against GMX. 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 GMXbpFee DeribitbpOrdersPrice spread, now −0.069%Rate

Funding earned: −$173.3
Price spread: −0.069% → 0.000%: −$6.86
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$199.16
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Deribit: 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 GMX no order-book sample	—	—	—	—	—
Sell Deribit no order-book sample	—	—	—	—	—

GMX and Deribit: 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	−0.3656%	1h	2.4770	−1.430%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUALshort	−0.0625%	1h	2.5112	−0.069%	$30K	$10K	10x
dYdX PENDLE-USD	0.0000%	1h	2.5181	+0.206%	$11K	—	5x	as long as short
BloFin PENDLE-USDT	+0.0021%	8h	2.5155	+0.102%	$1.3M	$732K	75x	as long as short
Orderly PERP_PENDLE_USDC	+0.0031%	8h	2.5118	−0.045%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0038%	1h	2.5112	−0.069%	$4K	—	15x	as long as short
MEXC PENDLE_USDT	+0.0045%	8h	2.5096	−0.132%	$16.9M	$2.1M	125x	as long as short
Binance PENDLEUSDT	+0.0047%	8h	2.5083	−0.183%	$27.2M	$39.6M	75x	as long as short
Extended PENDLE-USD	+0.0048%	1h	2.5087	−0.168%	$165K	$524K	10x	as long as short
Variational Omni PENDLE	+0.0060%	8h	2.5103	−0.105%	$618K	$2.0M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PENDLE	+0.0096%	1h	2.5106	−0.093%	$527K	$421K	5x	as long as short
Aevo PENDLE-PERP	+0.0096%	1h	2.5097	−0.127%	$26K	—	3x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5147	+0.072%	$35K	$20K	10x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5122	−0.030%	$41K	$172K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5093	−0.144%	$15.5M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5100	−0.116%	$3.2M	$5.8M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5170	+0.162%	$859K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5139	+0.039%	$897K	$605K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5127	−0.009%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5147	+0.071%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5048	−0.324%	$25K	$409K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5144	+0.058%	$424K	$1.6M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.5121	−0.033%	$77K	$240K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5149	+0.079%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5107	−0.089%	$1K	$1.7M	20x	as long as short
Hyperliquid PENDLE	+0.0130%	1h	2.5134	+0.019%	$12.4M	$5.6M	5x	as long as short
GMX PENDLE/USD [PENDLE-USDC]long	L +0.0200% / S −0.0277%	1h	2.5129	long leg	$5K	—	100x
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5180	+0.202%	$117K	$417K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0750%	1h	2.5105	−0.098%	$149K	$274K	20x	as long as short
Backpack PENDLE_USDC_PERP	+0.1196%	1h	2.5147	+0.071%	$358K	$460K	15x	as long as short