PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0097%/8h= −10.6% APRnext payment −$0.97 per $10,000 · paid last 24h −0.009%

Price spread now: BloFin against GRVT−0.204%7-day average +0.111% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$610.613% of the position

Long on GRVT Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 4 days (all we have)+0.324%+$32 · spread now −0.204%, 7d avg +0.111%

Together, before fees+0.308%+ Points / potential airdropGRVT: Active · farm board+$31 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and BloFin is 0.315% cheaper against GRVT than usual: you would sell low and buy high (−$32 if the spread goes back to its 7-day average of +0.111%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT PENDLE_USDT_Perp	2.4470	0.0094	pay 0.0094% / 8h	2h 39m	$405K	$2.1M	10x
Short	BloFin PENDLE-USDT	2.4420	−0.0003	pay 0.0003% / 8h	2h 39m	$1.1M	$599K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.204%Rate

Funding earned: −$20.28
Price spread: −0.204% → +0.111%: −$31.51
Slippage, 4 orders: −$40.31
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$113.11
Costs to cover: 0.613%
Break-even: never at this rate

Slippage from GRVT: live order book, 3 min ago; BloFin: live order book, 2 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	1.64 bp	19.8 bp −$20	27765.8 bp −$277.7K	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	0.82 bp	14.8 bp −$15	27.3 bp −$273	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	−0.3926%	1h	2.4240	−0.940%	$2K	$54K	5.5x	as long as short
Gate PENDLE_USDT	−0.0051%	8h	2.4360	−0.450%	$714K	$1.1M	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0035%	8h	2.4398	−0.294%	$19K	$15K	10x	as long as short
Extended PENDLE-USD	−0.0008%	1h	2.4373	−0.398%	$157K	$581K	10x	as long as short
Binance PENDLEUSDT	−0.0006%	8h	2.4393	−0.313%	$25.7M	$44.2M	75x	as long as short
MEXC PENDLE_USDT	−0.0006%	8h	2.4397	−0.298%	$17.3M	$2.0M	125x	as long as short
BloFin PENDLE-USDTshort	−0.0003%	8h	2.4420	−0.204%	$1.1M	$599K	75x
dYdX PENDLE-USD	0.0000%	1h	2.4406	−0.263%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4407	−0.257%	$24K	$15K	10x	as long as short
Reya PENDLERUSDPERP	+0.0073%	1h	2.4391	−0.322%	$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	+0.0080%	1h	2.4400	−0.288%	$26K	—	3x	as long as short
GRVT PENDLE_USDT_Perplong	+0.0094%	8h	2.4470	long leg	$405K	$2.1M	10x
Aster PENDLEUSDT	+0.0094%	8h	2.4404	−0.272%	$46K	$171K	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4400	−0.286%	$514K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4385	−0.346%	$34K	$9K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4429	−0.168%	$12.6M	$6.1M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4378	−0.376%	$14.3M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4400	−0.286%	$3.1M	$6.4M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4387	−0.339%	$858K	$554K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4369	−0.413%	$3.6M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4378	−0.376%	—	$8.4M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4411	−0.241%	$548K	$1.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4457	−0.054%	$24K	$373K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4466	−0.016%	$74K	$233K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4418	−0.213%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4394	−0.311%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4389	−0.331%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0523%	1h	2.4437	−0.135%	$352K	$402K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.4430	−0.163%	$153K	$518K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1192%	1h	2.4468	−0.006%	$115K	$263K	20x	as long as short