PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0095%/8h= +10.4% APRnext payment +$0.12 per $10,000 · paid last 24h −0.005%

Price spread now: Hyperliquid against GMX+0.432%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Hyperliquid

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—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Hyperliquid is 0.432% dearer against GMX than usual: you sell high and buy low: +$43 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	GMX PENDLE/USD [PENDLE-USDC]	2.4449	L +0.0196% / S −0.0222%	pay 0.0024% / 1h	9m 05s	$5K	—	100x
Short	Hyperliquid PENDLE	2.4555	0.0291	get 0.0036% / 1h	9m 05s	$12.7M	$6.0M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.432%Rate

Funding earned: $19.96
Price spread: +0.432% → 0.000%: $43.25
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $42.21
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Hyperliquid: live order book, 4 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 GMX no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 4 min ago	0.20 bp	12.9 bp −$13	doesn't fit	doesn't fit	doesn't fit

GMX: 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	−0.4243%	1h	2.4300	−0.610%	$2K	$54K	5.5x	as long as short
Gate PENDLE_USDT	−0.0068%	8h	2.4450	+0.003%	$717K	$1.1M	75x	as long as short
Binance PENDLEUSDT	−0.0050%	8h	2.4489	+0.164%	$25.9M	$44.5M	75x	as long as short
MEXC PENDLE_USDT	−0.0049%	8h	2.4489	+0.163%	$17.4M	$2.0M	125x	as long as short
Extended PENDLE-USD	−0.0048%	1h	2.4443	−0.024%	$158K	$579K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0037%	8h	2.4458	+0.036%	$19K	$15K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0036%	1h	2.4519	+0.285%	$75K	$234K	50x	as long as short
BloFin PENDLE-USDT	−0.0036%	8h	2.4449	−0.001%	$1.1M	$592K	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4521	+0.292%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4463	+0.056%	$24K	$15K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENDLEUSDT	+0.0039%	8h	2.4524	+0.306%	$46K	$172K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0051%	8h	2.4601	+0.621%	$417K	$2.1M	10x	as long as short
Reya PENDLERUSDPERP	+0.0071%	1h	2.4453	+0.015%	$3K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0072%	1h	2.4447	−0.009%	$26K	—	3x	as long as short
Variational Omni PENDLE	+0.0078%	8h	2.4500	+0.209%	$550K	$1.4M	—	as long as short
Lighter PENDLE	+0.0096%	1h	2.4464	+0.060%	$515K	$431K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4476	+0.109%	$34K	$11K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4490	+0.167%	$14.4M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4510	+0.248%	$3.1M	$6.4M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4488	+0.158%	$864K	$557K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4479	+0.122%	$3.6M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4495	+0.187%	—	$8.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4521	+0.293%	$24K	$374K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4475	+0.105%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4458	+0.036%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]long	L +0.0196% / S −0.0222%	1h	2.4449	long leg	$5K	—	100x
Hyperliquid PENDLEshort	+0.0291%	1h	2.4555	+0.432%	$12.7M	$6.0M	5x
Coinbase International PENDLE-PERP-INTX	+0.0640%	1h	2.4480	+0.126%	$150K	$507K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0693%	1h	2.4525	+0.310%	$356K	$400K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1187%	1h	2.4526	+0.313%	$115K	$268K	20x	as long as short