PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0066%/8h= −7.2% APRnext payment −$0.08 per $10,000 · paid last 24h +0.024%

Price spread now: GMX against Hyperliquid−0.211%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and GMX is 0.211% cheaper against Hyperliquid than usual: you would sell low and buy high (−$21 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid PENDLE	2.4501	0.0288	pay 0.0036% / 1h	9m 14s	$12.7M	$6.0M	5x
Short	GMX PENDLE/USD [PENDLE-USDC]	2.4449	L +0.0196% / S −0.0222%	get 0.0028% / 1h	9m 14s	$5K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Hyperliquid. 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 HyperliquidbpFee GMXbpOrdersPrice spread, now −0.211%Rate

Funding earned: −$13.9
Price spread: −0.211% → 0.000%: −$21.12
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: −$56.02
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 3 min ago; GMX: no order-book sample. 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 Hyperliquid live order book, 3 min ago	0.20 bp	11.3 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.4243%	1h	2.4300	−0.820%	$2K	$54K	5.5x	as long as short
Gate PENDLE_USDT	−0.0068%	8h	2.4450	−0.208%	$717K	$1.1M	75x	as long as short
Binance PENDLEUSDT	−0.0050%	8h	2.4486	−0.061%	$25.9M	$44.5M	75x	as long as short
MEXC PENDLE_USDT	−0.0049%	8h	2.4489	−0.049%	$17.4M	$2.0M	125x	as long as short
Extended PENDLE-USD	−0.0048%	1h	2.4443	−0.235%	$158K	$579K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0037%	8h	2.4458	−0.176%	$19K	$15K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0036%	1h	2.4519	+0.073%	$75K	$234K	50x	as long as short
BloFin PENDLE-USDT	−0.0036%	8h	2.4449	−0.212%	$1.1M	$592K	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4521	+0.080%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4463	−0.155%	$24K	$15K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENDLEUSDT	+0.0039%	8h	2.4524	+0.093%	$46K	$172K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0051%	8h	2.4601	+0.408%	$417K	$2.1M	10x	as long as short
Reya PENDLERUSDPERP	+0.0071%	1h	2.4453	−0.196%	$3K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0072%	1h	2.4447	−0.220%	$26K	—	3x	as long as short
Variational Omni PENDLE	+0.0078%	8h	2.4500	−0.002%	$550K	$1.4M	—	as long as short
Lighter PENDLE	+0.0096%	1h	2.4464	−0.151%	$515K	$431K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4476	−0.103%	$34K	$11K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4475	−0.106%	$14.4M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4490	−0.045%	$3.1M	$6.4M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4488	−0.053%	$864K	$557K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4474	−0.110%	$3.6M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4495	−0.024%	—	$8.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4521	+0.081%	$24K	$374K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4475	−0.106%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4458	−0.176%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]short	L +0.0196% / S −0.0222%	1h	2.4449	−0.211%	$5K	—	100x
Hyperliquid PENDLElong	+0.0288%	1h	2.4501	long leg	$12.7M	$6.0M	5x
Coinbase International PENDLE-PERP-INTX	+0.0640%	1h	2.4480	−0.086%	$150K	$507K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0699%	1h	2.4538	+0.151%	$356K	$400K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1187%	1h	2.4526	+0.101%	$115K	$268K	20x	as long as short