PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.12 per $10,000 · paid last 24h −0.028%

Price spread now: Polymarket Perps against GMX+0.022%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 Polymarket Perps

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

The price spread pays, funding is against you. Polymarket Perps is 0.022% dearer against GMX than usual: you sell high and buy low (spread +0.022% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX PENDLE/USD [PENDLE-USDC]	2.5207	L +0.0200% / S −0.0277%	pay 0.0025% / 1h	53m 05s	$5K	—	100x
Short	Polymarket Perps PENDLE-USD	2.5213	0.0100	get 0.0013% / 1h	53m 05s	$16K	$19K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$20.98
Price spread: +0.022% → 0.000%: $2.2
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$38.79
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Polymarket Perps: 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 Polymarket Perps no order-book sample	—	—	—	—	—

GMX and Polymarket Perps: 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	−0.4806%	1h	2.4860	−1.378%	$2K	$7K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0429%	1h	2.5207	−0.003%	$159K	$259K	20x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0067%	1h	2.5209	+0.006%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5190	−0.070%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0010%	8h	2.5125	−0.328%	$607K	$2.3M	—	as long as short
Reya PENDLERUSDPERP	+0.0033%	1h	2.5206	−0.008%	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.0035%	8h	2.5203	−0.018%	$23K	$8K	10x	as long as short
MEXC PENDLE_USDT	+0.0035%	8h	2.5193	−0.057%	$16.9M	$2.2M	125x	as long as short
Binance PENDLEUSDT	+0.0037%	8h	2.5196	−0.047%	$27.5M	$39.0M	75x	as long as short
Extended PENDLE-USD	+0.0040%	1h	2.5183	−0.096%	$165K	$524K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin PENDLE-USDT	+0.0041%	8h	2.5191	−0.065%	$1.3M	$799K	75x	as long as short
Aster PENDLEUSDT	+0.0076%	8h	2.5214	+0.024%	$41K	$177K	10x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5200	−0.028%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5201	−0.026%	$552K	$376K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5198	−0.040%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5226	+0.074%	$12.4M	$5.5M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5184	−0.093%	$15.6M	$12.3M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5200	−0.030%	$3.3M	$5.6M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5200	−0.030%	$849K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5205	−0.010%	$909K	$607K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5198	−0.038%	$3.8M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5196	−0.045%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5194	−0.053%	$25K	$411K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5218	+0.041%	$416K	$1.6M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.5100	−0.426%	$77K	$239K	50x	as long as short
Polymarket Perps PENDLE-USDshort	+0.0100%	1h	2.5213	+0.022%	$16K	$19K	5x
SunX PENDLE-USDT	+0.0100%	8h	2.5213	+0.022%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]long	L +0.0200% / S −0.0277%	1h	2.5207	long leg	$5K	—	100x
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5270	+0.248%	$118K	$440K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0802%	1h	2.5253	+0.181%	$366K	$466K	15x	as long as short