Funding you earn now, next payment 22:00 UTC−0.0064%/8h= −7.0% APRnext payment −$0.08 per $10,000 · paid last 24h −0.048%
Price spread now: Reya against Hyperliquid−0.147%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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 · Reya: Active · farm boardneeds both histories
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Reya is 0.147% cheaper against Hyperliquid than usual: you would sell low and buy high (−$15 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 | 2.5243 | 0.0100 | pay 0.0013% / 1h | 16m 45s | $12.4M | $5.6M | 5x |
| Short | Reya PENDLERUSDPERP | 2.5206 | 0.0036 | get 0.0005% / 1h | 16m 45s | $4K | — | 15x |
Hyperliquid PENDLE
Reya PENDLERUSDPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Reya 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
- −$13.37
- Price spread: −0.147% → 0.000%
- −$14.66
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Reya: 3 bp × 2 orders
- −$6
- Net
- −$43.03
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 6 min ago; Reya: 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, 6 min ago | 2.37 bp | 13.3 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
| Sell Reya no order-book sample | — | — | — | — | — |
Reya: 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 | −0.4806% | 1h | 2.5200 | −0.170% | $2K | $53K | 5.5x | as long as short |
| Kraken Futures PF_PENDLEUSD | −0.0428% | 1h | 2.5270 | +0.108% | $150K | $279K | 20x | as long as short |
| Deribit PENDLE_USDC-PERPETUAL | −0.0345% | 1h | 2.5208 | −0.139% | $30K | $10K | 10x | as long as short |
| dYdX PENDLE-USD | 0.0000% | 1h | 2.5194 | −0.193% | $11K | — | 5x | as long as short |
| BloFin PENDLE-USDT | +0.0020% | 8h | 2.5190 | −0.210% | $1.3M | $741K | 75x | as long as short |
| Orderly PERP_PENDLE_USDC | +0.0034% | 8h | 2.5208 | −0.139% | $25K | $11K | 10x | as long as short |
| Reya PENDLERUSDPERPshort | +0.0036% | 1h | 2.5206 | −0.147% | $4K | — | 15x | |
| MEXC PENDLE_USDT | +0.0045% | 8h | 2.5204 | −0.154% | $17.0M | $2.3M | 125x | as long as short |
| Binance PENDLEUSDT | +0.0046% | 8h | 2.5202 | −0.162% | $27.4M | $39.3M | 75x | as long as short |
| Extended PENDLE-USD | +0.0048% | 1h | 2.5193 | −0.196% | $166K | $524K | 10x | as long as short |
Injective PENDLE/USDC PERP
Kraken Futures PF_PENDLEUSD
Deribit PENDLE_USDC-PERPETUAL
dYdX PENDLE-USD
BloFin PENDLE-USDT
Orderly PERP_PENDLE_USDC
MEXC PENDLE_USDT
Binance PENDLEUSDT
Extended PENDLE-USDShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni PENDLE | +0.0053% | 8h | 2.5229 | −0.057% | $621K | $2.3M | — | as long as short |
| Lighter PENDLE | +0.0096% | 1h | 2.5210 | −0.131% | $548K | $396K | 5x | as long as short |
| Aevo PENDLE-PERP | +0.0096% | 1h | 2.5198 | −0.178% | $26K | — | 3x | as long as short |
| Paradex PENDLE-USD-PERP | +0.0100% | 8h | 2.5203 | −0.158% | $35K | $22K | 10x | as long as short |
| Hyperliquid PENDLElong | +0.0100% | 1h | 2.5243 | long leg | $12.4M | $5.6M | 5x | |
| Aster PENDLEUSDT | +0.0100% | 8h | 2.5196 | −0.187% | $41K | $177K | 10x | as long as short |
| Bybit PENDLEUSDT | +0.0100% | 8h | 2.5182 | −0.242% | $15.6M | $11.9M | 50x | as long as short |
| OKX PENDLE-USDT-SWAP | +0.0100% | 4h | 2.5220 | −0.091% | $3.3M | $5.7M | 50x | as long as short |
| Gate PENDLE_USDT | +0.0100% | 8h | 2.5170 | −0.289% | $840K | $1.1M | 75x | as long as short |
| KuCoin PENDLEUSDTM | +0.0100% | 8h | 2.5217 | −0.103% | $917K | $610K | 50x | as long as short |
| Bitget PENDLEUSDT | +0.0100% | 8h | 2.5198 | −0.178% | $3.7M | $2.6M | 75x | as long as short |
| BingX PENDLE-USDT | +0.0100% | 8h | 2.5194 | −0.194% | — | $36.3M | — | as long as short |
| edgeX PENDLEUSDC | +0.0100% | 4h | 2.5210 | −0.129% | $25K | $412K | 10x | as long as short |
| GRVT PENDLE_USDT_Perp | +0.0100% | 8h | 2.5216 | −0.107% | $425K | $1.6M | 10x | as long as short |
| ApeX Omni PENDLEUSDT | +0.0100% | 1h | 2.5236 | −0.028% | $77K | $240K | 50x | as long as short |
| Polymarket Perps PENDLE-USD | +0.0100% | 1h | 2.5216 | −0.107% | $16K | $19K | 5x | as long as short |
| SunX PENDLE-USDT | +0.0100% | 8h | 2.5214 | −0.115% | $1K | $1.7M | 20x | as long as short |
| GMX PENDLE/USD [PENDLE-USDC] | L +0.0200% / S −0.0277% | 1h | 2.5218 | −0.100% | $5K | — | 100x | as long as short |
| Coinbase International PENDLE-PERP-INTX | +0.0560% | 1h | 2.5360 | +0.463% | $117K | $422K | 25x | as long as short |
| Backpack PENDLE_USDC_PERP | +0.0845% | 1h | 2.5239 | −0.016% | $365K | $460K | 15x | as long as short |
Variational Omni PENDLE
Lighter PENDLE
Aevo PENDLE-PERP
Paradex PENDLE-USD-PERP
Aster PENDLEUSDT
Bybit PENDLEUSDT
OKX PENDLE-USDT-SWAP
Gate PENDLE_USDT
KuCoin PENDLEUSDTM
Bitget PENDLEUSDT
BingX PENDLE-USDT
edgeX PENDLEUSDC
GRVT PENDLE_USDT_Perp
ApeX Omni PENDLEUSDT
Polymarket Perps PENDLE-USD
SunX PENDLE-USDT
GMX PENDLE/USD [PENDLE-USDC]
Coinbase International PENDLE-PERP-INTX
Backpack PENDLE_USDC_PERP