PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0985%/8h= +107.8% APRnext payment +$1.23 per $10,000 · paid last 24h +0.266%

Price spread now: Kraken Futures against GMX+0.263%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 Kraken Futures

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 for this trade now. Funding pays +$30 a day on $10k at the current rate, and Kraken Futures is 0.263% dearer against GMX than usual: you sell high and buy low: +$26 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]	2.4651	L +0.0196% / S −0.0222%	pay 0.0024% / 1h	20m 06s	$5K	—	100x
Short	Kraken Futures PF_PENDLEUSD	2.4716	0.1180	get 0.0148% / 1h	20m 06s	$116K	$262K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.263%Rate

Funding earned: $206.75
Price spread: +0.263% → 0.000%: $26.32
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $211.07
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Kraken Futures: live order book, 27 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 Kraken Futures live order book, 27 min ago	12.26 bp	46.2 bp −$46	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	−0.3926%	1h	2.4200	−1.830%	$2K	$54K	5.5x	as long as short
Orderly PERP_PENDLE_USDC	−0.0035%	8h	2.4652	+0.004%	$19K	$15K	10x	as long as short
Gate PENDLE_USDT	−0.0019%	8h	2.4630	−0.085%	$723K	$1.1M	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4563	−0.357%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4657	+0.024%	$24K	$15K	10x	as long as short
BloFin PENDLE-USDT	+0.0016%	8h	2.4497	−0.625%	$1.1M	$602K	75x	as long as short
MEXC PENDLE_USDT	+0.0026%	8h	2.4660	+0.036%	$17.5M	$2.0M	125x	as long as short
Binance PENDLEUSDT	+0.0030%	8h	2.4667	+0.065%	$26.0M	$44.4M	75x	as long as short
Extended PENDLE-USD	+0.0032%	1h	2.4639	−0.050%	$158K	$577K	10x	as long as short
Reya PENDLERUSDPERP	+0.0075%	1h	2.4634	−0.070%	$3K	—	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PENDLE-PERP	+0.0088%	1h	2.4646	−0.022%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4656	+0.020%	$520K	$416K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4589	−0.250%	$34K	$9K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4712	+0.247%	$12.7M	$6.1M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4639	−0.050%	$46K	$171K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4649	−0.008%	$14.4M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4680	+0.117%	$3.1M	$6.5M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4668	+0.069%	$870K	$555K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4654	+0.012%	$3.7M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4661	+0.040%	—	$8.4M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4491	−0.651%	$551K	$1.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4478	−0.700%	$24K	$372K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.4500	−0.612%	$410K	$2.2M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4490	−0.653%	$74K	$234K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4654	+0.012%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4585	−0.268%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]long	L +0.0196% / S −0.0222%	1h	2.4651	long leg	$5K	—	100x
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.4690	+0.158%	$157K	$527K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0774%	1h	2.4725	+0.300%	$358K	$401K	15x	as long as short
Kraken Futures PF_PENDLEUSDshort	+0.1180%	1h	2.4716	+0.263%	$116K	$262K	20x