Funding arb · Price arb / Crypto
PENDLE
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| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 2.4844 | +0.0100 | pay 0.0013% / 1h | 59m 38s | $14.6M | $1.8M | 5x | Long Hyperliquid4% off | |
| SHORT | 2.4837 | +0.0100 | get 0.0100% / 8h | 59m 38s | $1.4M | $1.2M | 20x | Short Phemex |
Price gap−0.028%
Funding gap0.0000% /8h
Funding is ≈ 0, so this is a price-spread trade: +$8 on $10k if the gap goes back to its 7d average.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$50.0000% /8h now · paid −0.054% over the last 7D
Price+$8spread −0.028% now, avg −0.110% → +0.082% if it goes back
Costs−$1071.075% of $10k · taker + slippage, in and out
Result−$105−1.05%+ Points / potential airdropHyperliquid: Season 2 · farm boardWhat the last 7D really paid, hour by hour → backtest
Price and funding
1h · historyEntry / Exit
Price spread
Prices
Fundingper 8h
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now−0.028%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hPENDLE on 31 exchanges
lowest funding firstBefore you open
2 ok · 4 to watch- Watch: Thin at this size14.9 / 34.1 bpAt $10k entering Phemex costs 34.1 bp, fee and slippage, 2.3× Hyperliquid’s.
- Note: Margin at max leverage$2,000 + $500Hyperliquid 5x, Phemex 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ1h / 8hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: $0.00Long Hyperliquid: 24 payments, −$3.00; short Phemex: 3 payments, +$3.00.
- OK: Entry gap works for you−0.028% vs −0.110%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Short leg is thinner$1.4M vs $14.6M OIPhemex sets your exit cost. Check its book before closing.
- OK: Points on a legHyperliquid Season 2Volume here counts toward the points program.
- Watch: KYCHyperliquid No · Phemex YesKYC unlocks spot and futures trading; an unverified account cannot withdraw at all.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0026%/8h × 21 periods−$5.41
Price spread−0.028% → −0.110% (7d avg)+$8.15
Slippage, 4 orderslive order books−$86.48
Fee Hyperliquid bp × 2 orders−$9.00
Fee Phemex bp × 2 orders−$12.00
Net · 7 days · $10k−$104.74
Costs to cover1.075%Break-evennever at this rate
Slippage: Hyperliquid: live order book, 10 min ago; Phemex: live order book, 3 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGHyperliquid1.2014.9 bp−$1537.7 bp−$377157.8 bp−$15.8Kdoesn’t fit
SELL · SHORTPhemex6.6434.1 bp−$34146.9 bp−$1,469doesn’t fitdoesn’t fit
Closing costs about the same again.
| 09-30 01:05 | Reya | Listing | PENDLERUSDPERP no longer reported ($PENDLE) seen by our collector |
| 09-24 18:20 | Phemex | Other | Phemex Futures TradFi Listing: ethereum:0xaea46a60368a7bd060eec7df8cba43b7ef41ad85, ethereum:0x5a98fcbea516cf06857215779fd812ca3bef1b32, $PENDLE, ethereum:0x455e53cbb86018ac2b8092fdcd39d8444affc3f6, $CAKE, $INJ 🔹 Trading Zone: Perpetual 🔹 Max Leverage: Up to 50x 🔹 Trading Starts: @Phemex_official on X ↗ |
| 09-24 09:36 | Phemex | Listing | new market PENDLEUSDT ($PENDLE) seen by our collector |
Reya