PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC+0.0688%/8h= +75.3% APRnext payment +$6.88 per $10,000 · paid last 24h −0.016%

Price spread now: MEXC against GRVT−0.141%82s7-day average +0.088% · 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—prices read too far apart to compare

costs, in and out, $10k−$460.464% of the position

Long on GRVT Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 7 days+0.447%+$45 · spread now −0.141%, 7d avg +0.088%

Together, before fees+0.433%+ Points / potential airdropGRVT: Active · farm board+$43 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.229% cheaper against GRVT than usual: you would sell low and buy high (spread −0.141% now, against its 7-day average of +0.088%). If the spread goes back, that is −$23 on $10k: about 27 hours of funding at the current rate (+$21 a day). The two prices were read 82 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.014% in total (about -0.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$6.88 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT PENDLE_USDT_Perp	2.4270	−0.0736	get 0.0736% / 8h	7h 40m	$403K	$2.6M	10x
Short	MEXC PENDLE_USDT	2.4236	−0.0048	pay 0.0048% / 8h	7h 40m	$18.0M	$2.1M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.141%Rate

Funding earned: $144.48
Price spread: −0.141% → +0.088%: −$22.85
Slippage, 4 orders: −$33.35
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee MEXC: 2 bp × 2 orders: −$4
Net: $75.27
Costs to cover: 0.464%
Break-even: 3.4 days

Slippage from GRVT: live order book, 3 min ago; MEXC: 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	3.30 bp	18.2 bp −$18	3806.9 bp −$38.1K	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	0.21 bp	7.7 bp −$8	29.4 bp −$294	91.6 bp −$9,162	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	−0.3627%	1h	2.4010	−1.072%	$2K	$55K	5.5x	as long as short
GRVT PENDLE_USDT_Perplong	−0.0736%	8h	2.4270	long leg	$403K	$2.6M	10x
Deribit PENDLE_USDC-PERPETUAL	−0.0410%	1h	2.4235	−0.145%	$25K	$16K	10x	as long as short
Gate PENDLE_USDT	−0.0186%	8h	2.4250	−0.083%	$769K	$991K	75x	as long as short
BloFin PENDLE-USDT	−0.0061%	8h	2.4234	−0.149%	$1.1M	$503K	75x	as long as short
Binance PENDLEUSDT	−0.0048%	8h	2.4242	−0.115%	$25.4M	$45.8M	75x	as long as short
Extended PENDLE-USD	−0.0048%	1h	2.4228	−0.174%	$156K	$924K	10x	as long as short
MEXC PENDLE_USDTshort	−0.0048%	8h	2.4236	−0.141%	$18.0M	$2.1M	125x
Orderly PERP_PENDLE_USDC	−0.0014%	8h	2.4226	−0.182%	$18K	$15K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0006%	1h	2.4284	+0.057%	$74K	$231K	50x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENDLE-USD	0.0000%	1h	2.4263	−0.030%	$10K	—	5x	as long as short
Bybit PENDLEUSDT	+0.0033%	8h	2.4241	−0.120%	$14.0M	$11.9M	50x	as long as short
Aster PENDLEUSDT	+0.0066%	8h	2.4250	−0.085%	$47K	$168K	10x	as long as short
Aevo PENDLE-PERP	+0.0072%	1h	2.4219	−0.209%	$25K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0088%	1h	2.4217	−0.217%	$3K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4244	−0.108%	$522K	$429K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4217	−0.217%	$34K	$3K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4269	−0.005%	$12.7M	$6.1M	5x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4250	−0.083%	$3.1M	$6.7M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4283	+0.053%	$687K	$601K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4237	−0.136%	$3.8M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4247	−0.095%	—	$8.3M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4221	−0.202%	$564K	$1.2M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4278	+0.033%	$24K	$370K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4230	−0.165%	$16K	$4K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4241	−0.120%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4283	+0.051%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0664%	1h	2.4310	+0.164%	$163K	$516K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0745%	1h	2.4295	+0.102%	$358K	$432K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1278%	1h	2.4290	+0.081%	$115K	$256K	20x	as long as short