PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0008%/8h= +0.9% APRnext payment +$0.08 per $10,000 · paid last 24h +0.011%

Price spread now: Binance against GRVT−0.110%7-day average +0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$550.554% of the position

Long on GRVT Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.005%$0 on $10k

Price spread, last 3 days (all we have)−0.108%−$11 · spread now −0.110%, 7d avg +0.016%

Together, before fees−0.103%+ Points / potential airdropGRVT: Active · farm board−$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.126% cheaper against GRVT than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT PENDLE_USDT_Perp	2.5295	−0.0098	get 0.0098% / 8h	7h 21m	$419K	$1.6M	10x
Short	Binance PENDLEUSDT	2.5267	−0.0090	pay 0.0090% / 8h	7h 21m	$27.3M	$42.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GRVT. 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 GRVTbpFee BinancebpOrdersPrice spread, now −0.110%Rate

Funding earned: $1.64
Price spread: −0.110% → +0.016%: −$12.64
Slippage, 4 orders: −$36.44
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$66.43
Costs to cover: 0.554%
Break-even: 289.8 days

Slippage from GRVT: live order book, 2 min ago; Binance: live order book, 6 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 GRVT live order book, 2 min ago	1.58 bp	17.6 bp −$18	9323.8 bp −$93.2K	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	0.40 bp	9.6 bp −$10	27.5 bp −$275	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	−0.4643%	1h	2.4970	−1.285%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0303%	1h	2.5281	−0.055%	$26K	$14K	10x	as long as short
GRVT PENDLE_USDT_Perplong	−0.0098%	8h	2.5295	long leg	$419K	$1.6M	10x
Binance PENDLEUSDTshort	−0.0090%	8h	2.5267	−0.110%	$27.3M	$42.6M	75x
MEXC PENDLE_USDT	−0.0090%	8h	2.5273	−0.087%	$17.1M	$1.9M	125x	as long as short
Extended PENDLE-USD	−0.0088%	1h	2.5261	−0.132%	$165K	$570K	10x	as long as short
BloFin PENDLE-USDT	−0.0079%	8h	2.5271	−0.095%	$1.3M	$685K	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0022%	8h	2.5272	−0.091%	$20K	$16K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0006%	1h	2.5283	−0.047%	$77K	$238K	50x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5296	+0.004%	$11K	—	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PENDLE	+0.0002%	8h	2.5241	−0.214%	$608K	$1.8M	—	as long as short
Bybit PENDLEUSDT	+0.0009%	8h	2.5250	−0.178%	$15.6M	$11.9M	50x	as long as short
Reya PENDLERUSDPERP	+0.0050%	1h	2.5266	−0.113%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0056%	1h	2.5269	−0.102%	$26K	—	3x	as long as short
Aster PENDLEUSDT	+0.0056%	8h	2.5302	+0.027%	$47K	$178K	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5274	−0.083%	$537K	$418K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5261	−0.132%	$35K	$18K	10x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5260	−0.138%	$3.2M	$6.1M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5280	−0.059%	$784K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5302	+0.028%	$889K	$586K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5276	−0.075%	$3.8M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5269	−0.102%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5283	−0.047%	$25K	$381K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5274	−0.083%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5270	−0.099%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0203% / S −0.0382%	1h	2.5285	−0.041%	$7K	—	100x	as long as short
Hyperliquid PENDLE	+0.0363%	1h	2.5325	+0.119%	$13.0M	$6.4M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0615%	1h	2.5328	+0.131%	$118K	$293K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0728%	1h	2.5410	+0.455%	$141K	$444K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0882%	1h	2.5315	+0.079%	$354K	$490K	15x	as long as short