PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.4942%/8h= +541.1% APRnext payment +$6.18 per $10,000 · paid last 24h +0.798%

Price spread now: Coinbase International against Injective+1.233%7-day average — · you sell dearer than you buy

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

Long on Injective Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+1.212%+$121 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$148 a day on $10k at the current rate, and Coinbase International is 1.233% dearer against Injective than usual: you sell high and buy low: +$123 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.212% in total (about 63.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$6.18 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective PENDLE/USDC PERP	2.4340	−0.4334	get 0.0542% / 1h	4m 27s	$2K	$54K	5.5x
Short	Coinbase International PENDLE-PERP-INTX	2.4640	0.0608	get 0.0076% / 1h	4m 27s	$147K	$494K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee Coinbase InternationalbpOrdersPrice spread, now +1.233%Rate

Funding earned: $1,037.81
Price spread: +1.233% → 0.000%: $123.25
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $1,151.04
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Coinbase International: live order book, 54 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 Injective no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 54 min ago	8.11 bp	24.9 bp −$25	doesn't fit	doesn't fit	doesn't fit

Injective: 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 PERPlong	−0.4334%	1h	2.4340	long leg	$2K	$54K	5.5x
Deribit PENDLE_USDC-PERPETUAL	−0.0156%	1h	2.4643	+1.245%	$25K	$14K	10x	as long as short
BloFin PENDLE-USDT	−0.0069%	8h	2.4638	+1.224%	$1.1M	$592K	75x	as long as short
Extended PENDLE-USD	−0.0056%	1h	2.4614	+1.127%	$159K	$578K	10x	as long as short
MEXC PENDLE_USDT	−0.0054%	8h	2.4664	+1.331%	$17.3M	$2.0M	125x	as long as short
Binance PENDLEUSDT	−0.0054%	8h	2.4634	+1.206%	$26.1M	$43.6M	75x	as long as short
Aster PENDLEUSDT	−0.0050%	8h	2.4641	+1.239%	$47K	$179K	10x	as long as short
Gate PENDLE_USDT	−0.0047%	8h	2.4610	+1.109%	$718K	$1.1M	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0038%	8h	2.4635	+1.212%	$19K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4636	+1.214%	$10K	—	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PENDLE-PERP	+0.0064%	1h	2.4625	+1.171%	$26K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0066%	1h	2.4666	+1.340%	$3K	—	15x	as long as short
Variational Omni PENDLE	+0.0066%	8h	2.4591	+1.030%	$552K	$1.4M	—	as long as short
GRVT PENDLE_USDT_Perp	+0.0071%	8h	2.4627	+1.179%	$409K	$1.9M	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4626	+1.175%	$516K	$429K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4609	+1.105%	$34K	$13K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4630	+1.191%	$14.5M	$12.0M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4660	+1.315%	$3.1M	$6.2M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4663	+1.327%	$867K	$558K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4642	+1.241%	$3.7M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4615	+1.130%	—	$8.5M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4600	+1.068%	$24K	$377K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4612	+1.118%	$75K	$235K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4666	+1.339%	$16K	$8K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4669	+1.352%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4644	+1.247%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0342%	1h	2.4714	+1.537%	$12.8M	$6.0M	5x	as long as short
Coinbase International PENDLE-PERP-INTXshort	+0.0608%	1h	2.4640	+1.233%	$147K	$494K	25x
Backpack PENDLE_USDC_PERP	+0.0660%	1h	2.4677	+1.385%	$359K	$473K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1178%	1h	2.4691	+1.440%	$115K	$268K	20x	as long as short