PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0048%/8h= −5.3% APRnext payment −$0.48 per $10,000 · paid last 24h −0.050%

Price spread now: Variational Omni against GRVT+0.214%89s7-day average +0.015% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GRVT Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.098%−$10 on $10k

Price spread, last 7 days−0.515%−$52 · spread now +0.214%, 7d avg +0.015%

Together, before fees−0.613%+ Points / potential airdropGRVT: Active · Variational Omni: Active · farm board−$61 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.199% dearer against GRVT than usual: you sell high and buy low (spread +0.214% now, against its 7-day average of +0.015%): +$20 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 14 days. The two prices were read 89 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT PENDLE_USDT_Perp	2.4892	0.0059	pay 0.0059% / 8h	5h 20m	$416K	$1.8M	10x
Short	Variational Omni PENDLE	2.4945	0.0011	get 0.0011% / 8h	5h 20m	$561K	$1.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.214%Rate

Funding earned: −$10.09
Price spread: +0.214% → +0.015%: $19.92
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $0.82
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: GRVT: live order book, 3 min ago; Variational Omni: RFQ quote, 4 min ago. 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 GRVT live order book, 3 min ago	1.81 bp	6.7 bp −$7	20.5 bp −$205	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	4.73 bp	doesn't fit	53.6 bp −$536	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	−0.4938%	1h	2.4520	−1.494%	$2K	$54K	5.5x	as long as short
BloFin PENDLE-USDT	−0.0102%	8h	2.4951	+0.237%	$1.3M	$650K	75x	as long as short
MEXC PENDLE_USDT	−0.0084%	8h	2.4966	+0.297%	$17.4M	$1.9M	125x	as long as short
Binance PENDLEUSDT	−0.0081%	8h	2.4966	+0.295%	$26.7M	$43.5M	75x	as long as short
Extended PENDLE-USD	−0.0080%	1h	2.4943	+0.205%	$162K	$570K	10x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0070%	1h	2.4957	+0.261%	$26K	$14K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0035%	8h	2.4962	+0.281%	$19K	$15K	10x	as long as short
Aster PENDLEUSDT	−0.0030%	8h	2.4964	+0.290%	$47K	$177K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4955	+0.253%	$10K	—	5x	as long as short
Variational Omni PENDLEshort	+0.0011%	8h	2.4945	+0.214%	$561K	$1.8M	—

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENDLE_USDT	+0.0029%	8h	2.4950	+0.233%	$723K	$1.1M	75x	as long as short
Aevo PENDLE-PERP	+0.0056%	1h	2.4949	+0.230%	$26K	—	3x	as long as short
GRVT PENDLE_USDT_Perplong	+0.0059%	8h	2.4892	long leg	$416K	$1.8M	10x
Reya PENDLERUSDPERP	+0.0060%	1h	2.4953	+0.246%	$4K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4956	+0.257%	$533K	$418K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4960	+0.273%	$35K	$15K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5000	+0.434%	$12.7M	$6.0M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4961	+0.277%	$15.0M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4990	+0.394%	$3.2M	$6.2M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4970	+0.313%	$852K	$573K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4959	+0.269%	$3.7M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4985	+0.374%	—	$33.6M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4819	−0.292%	$25K	$377K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4856	−0.145%	$76K	$235K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4987	+0.382%	$16K	$8K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4954	+0.249%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0158% / S −0.0257%	1h	2.4962	+0.281%	$7K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0552%	1h	2.4990	+0.394%	$148K	$493K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0724%	1h	2.4998	+0.426%	$361K	$488K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0749%	1h	2.5021	+0.517%	$116K	$280K	20x	as long as short