Funding you earn now, next payment 21:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.012%
Price spread now: Lighter against Hyperliquid−0.110%7-day average −0.091% · you buy dearer than you sell
Net, funding: paid 7d − costs−$47as in the Funding arb table
Net, price: spread back to 7d avg − costs−$45as in the Price arb table
costs, in and out, $10k−$430.431% of the position
Funding, last 7 days−0.041%−$4 on $10k
+Price spread, last 4 days (all we have)+0.012%+$1 · spread now −0.110%, 7d avg −0.091%
=Together, before fees−0.029%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board−$3 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid PENDLE | 2.5420 | 0.0100 | pay 0.0013% / 1h | 14m 57s | $12.5M | $5.4M | 5x |
| Short | Lighter PENDLE | 2.5392 | 0.0096 | get 0.0012% / 1h | 14m 57s | $557K | $382K | 5x |
Hyperliquid PENDLE
Lighter PENDLEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Hyperliquid. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$0.84
- Price spread: −0.110% → −0.091%
- −$1.94
- Slippage, 4 orders
- −$34.14
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$45.93
- Costs to cover
- 0.431%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 12 min ago; Lighter: live order book, 9 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 Hyperliquid live order book, 12 min ago | 1.76 bp | 9.5 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 9 min ago | 8.07 bp | 12.6 bp −$13 | 85.1 bp −$851 | 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 | −0.4037% | 1h | 2.5260 | −0.629% | $2K | $7K | 5.5x | as long as short |
| Kraken Futures PF_PENDLEUSD | −0.0287% | 1h | 2.5396 | −0.093% | $160K | $249K | 20x | as long as short |
| Deribit PENDLE_USDC-PERPETUAL | −0.0065% | 1h | 2.5393 | −0.106% | $30K | $11K | 10x | as long as short |
| ApeX Omni PENDLEUSDT | −0.0018% | 1h | 2.5430 | +0.039% | $78K | $239K | 50x | as long as short |
| dYdX PENDLE-USD | 0.0000% | 1h | 2.5448 | +0.108% | $11K | — | 5x | as long as short |
| Variational Omni PENDLE | +0.0010% | 8h | 2.5415 | −0.018% | $645K | $2.3M | — | as long as short |
| Aster PENDLEUSDT | +0.0030% | 8h | 2.5392 | −0.112% | $41K | $179K | 10x | as long as short |
| Reya PENDLERUSDPERP | +0.0032% | 1h | 2.5380 | −0.157% | $4K | — | 15x | as long as short |
| Orderly PERP_PENDLE_USDC | +0.0034% | 8h | 2.5392 | −0.110% | $23K | $8K | 10x | as long as short |
| MEXC PENDLE_USDT | +0.0036% | 8h | 2.5383 | −0.146% | $17.0M | $2.2M | 125x | as long as short |
Injective PENDLE/USDC PERP
Kraken Futures PF_PENDLEUSD
Deribit PENDLE_USDC-PERPETUAL
ApeX Omni PENDLEUSDT
dYdX PENDLE-USD
Variational Omni PENDLE
Aster PENDLEUSDT
Reya PENDLERUSDPERP
Orderly PERP_PENDLE_USDC
MEXC PENDLE_USDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance PENDLEUSDT | +0.0038% | 8h | 2.5400 | −0.079% | $27.7M | $37.7M | 75x | as long as short |
| BloFin PENDLE-USDT | +0.0040% | 8h | 2.5397 | −0.090% | $1.4M | $794K | 75x | as long as short |
| Extended PENDLE-USD | +0.0040% | 1h | 2.5371 | −0.192% | $167K | $524K | 10x | as long as short |
| Aevo PENDLE-PERP | +0.0088% | 1h | 2.5381 | −0.154% | $27K | — | 3x | as long as short |
| Lighter PENDLEshort | +0.0096% | 1h | 2.5392 | −0.110% | $557K | $382K | 5x | |
| Paradex PENDLE-USD-PERP | +0.0100% | 8h | 2.5411 | −0.036% | $36K | $24K | 10x | as long as short |
| Hyperliquid PENDLElong | +0.0100% | 1h | 2.5420 | long leg | $12.5M | $5.4M | 5x | |
| Bybit PENDLEUSDT | +0.0100% | 8h | 2.5390 | −0.118% | $15.8M | $12.0M | 50x | as long as short |
| OKX PENDLE-USDT-SWAP | +0.0100% | 4h | 2.5400 | −0.079% | $3.3M | $5.5M | 50x | as long as short |
| Gate PENDLE_USDT | +0.0100% | 8h | 2.5380 | −0.157% | $810K | $1.0M | 75x | as long as short |
| KuCoin PENDLEUSDTM | +0.0100% | 8h | 2.5399 | −0.083% | $922K | $598K | 50x | as long as short |
| Bitget PENDLEUSDT | +0.0100% | 8h | 2.5387 | −0.130% | $3.8M | $2.6M | 75x | as long as short |
| BingX PENDLE-USDT | +0.0100% | 8h | 2.5403 | −0.067% | — | $36.3M | — | as long as short |
| edgeX PENDLEUSDC | +0.0100% | 4h | 2.5416 | −0.018% | $25K | $416K | 10x | as long as short |
| GRVT PENDLE_USDT_Perp | +0.0100% | 8h | 2.5415 | −0.020% | $426K | $1.5M | 10x | as long as short |
| Polymarket Perps PENDLE-USD | +0.0100% | 1h | 2.5400 | −0.079% | $16K | $19K | 5x | as long as short |
| SunX PENDLE-USDT | +0.0100% | 8h | 2.5408 | −0.047% | $1K | $1.6M | 20x | as long as short |
| GMX PENDLE/USD [PENDLE-USDC] | L +0.0200% / S −0.0273% | 1h | 2.5393 | −0.108% | $5K | — | 100x | as long as short |
| Coinbase International PENDLE-PERP-INTX | +0.0552% | 1h | 2.5420 | 0.000% | $120K | $436K | 25x | as long as short |
| Backpack PENDLE_USDC_PERP | +0.1073% | 1h | 2.5432 | +0.047% | $376K | $456K | 15x | as long as short |
Binance PENDLEUSDT
BloFin PENDLE-USDT
Extended PENDLE-USD
Aevo PENDLE-PERP
Paradex PENDLE-USD-PERP
Bybit PENDLEUSDT
OKX PENDLE-USDT-SWAP
Gate PENDLE_USDT
KuCoin PENDLEUSDTM
Bitget PENDLEUSDT
BingX PENDLE-USDT
edgeX PENDLEUSDC
GRVT PENDLE_USDT_Perp
Polymarket Perps PENDLE-USD
SunX PENDLE-USDT
GMX PENDLE/USD [PENDLE-USDC]
Coinbase International PENDLE-PERP-INTX
Backpack PENDLE_USDC_PERP