PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0050%/8h= +5.5% APRnext payment +$0.50 per $10,000 · paid last 24h +0.020%

Price spread now: BingX against GRVT−0.070%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$520.523% of the position

Long on GRVT Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 3 days (all we have)−0.210%−$21 · spread now −0.070%, 7d avg −0.014%

Together, before fees−0.166%+ Points / potential airdropGRVT: Active · farm board−$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.056% cheaper against GRVT than usual: you would sell low and buy high (spread −0.070% now, against its 7-day average of −0.014%). If the spread goes back, that is −$6 on $10k: about 3.7 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.044% in total) that is about 9.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT PENDLE_USDT_Perp	2.5225	0.0050	pay 0.0050% / 8h	35m 14s	$418K	$1.6M	10x
Short	BingX PENDLE-USDT	2.5207	0.0100	get 0.0100% / 8h	35m 14s	—	$35.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.070%Rate

Funding earned: $10.5
Price spread: −0.070% → −0.014%: −$5.59
Slippage, 4 orders: −$33.25
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$47.34
Costs to cover: 0.523%
Break-even: 38.6 days

Slippage from GRVT: live order book, 3 min ago; BingX: live order book, 4 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, 3 min ago	1.59 bp	16.2 bp −$16	16584.6 bp −$165.8K	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	4.36 bp	14.0 bp −$14	25.0 bp −$250	136.1 bp −$13.6K	372.9 bp −$186.4K

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	−0.5000%	1h	2.4940	−1.129%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0503%	1h	2.5223	−0.007%	$30K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0090%	1h	2.5215	−0.039%	$77K	$239K	50x	as long as short
BloFin PENDLE-USDT	−0.0054%	8h	2.5198	−0.106%	$1.3M	$752K	75x	as long as short
Binance PENDLEUSDT	−0.0027%	8h	2.5224	−0.003%	$27.3M	$41.9M	75x	as long as short
MEXC PENDLE_USDT	−0.0026%	8h	2.5230	+0.021%	$17.1M	$1.9M	125x	as long as short
Extended PENDLE-USD	−0.0024%	1h	2.5207	−0.069%	$166K	$528K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5242	+0.067%	$11K	—	5x	as long as short
Orderly PERP_PENDLE_USDC	0.0000%	8h	2.5214	−0.043%	$20K	$16K	10x	as long as short
Variational Omni PENDLE	+0.0043%	8h	2.5187	−0.149%	$594K	$1.9M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya PENDLERUSDPERP	+0.0045%	1h	2.5204	−0.082%	$4K	—	15x	as long as short
GRVT PENDLE_USDT_Perplong	+0.0050%	8h	2.5225	long leg	$418K	$1.6M	10x
Aevo PENDLE-PERP	+0.0072%	1h	2.5215	−0.039%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5228	+0.013%	$531K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5203	−0.088%	$35K	$18K	10x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5237	+0.050%	$46K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5220	−0.019%	$15.5M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5230	+0.021%	$3.2M	$6.1M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5210	−0.058%	$783K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5242	+0.068%	$893K	$600K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5194	−0.122%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDTshort	+0.0100%	8h	2.5207	−0.070%	—	$35.7M	—
edgeX PENDLEUSDC	+0.0100%	4h	2.5204	−0.083%	$25K	$396K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5228	+0.013%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5210	−0.058%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5229	+0.018%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0222%	1h	2.5268	+0.172%	$12.7M	$6.1M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0594%	1h	2.5277	+0.205%	$120K	$299K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+0.457%	$141K	$458K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0855%	1h	2.5271	+0.183%	$329K	$491K	15x	as long as short