PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.5596%/8h= +612.7% APRnext payment +$6.99 per $10,000 · paid last 24h +0.792%

Price spread now: Kraken Futures against Injective+1.028%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 Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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 +$168 a day on $10k at the current rate, and Kraken Futures is 1.028% dearer against Injective than usual: you sell high and buy low: +$103 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective PENDLE/USDC PERP	2.4940	−0.5000	get 0.0625% / 1h	2m 34s	$2K	$54K	5.5x
Short	Kraken Futures PF_PENDLEUSD	2.5196	0.0596	get 0.0074% / 1h	2m 34s	$119K	$298K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Injective. 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 InjectivebpFee Kraken FuturesbpOrdersPrice spread, now +1.028%Rate

Funding earned: $1,175.11
Price spread: +1.028% → 0.000%: $102.84
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $1,267.93
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Kraken Futures: live order book, 10 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 Kraken Futures live order book, 10 min ago	13.91 bp	50.3 bp −$50	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	−0.5000%	1h	2.4940	long leg	$2K	$54K	5.5x
Deribit PENDLE_USDC-PERPETUAL	−0.0266%	1h	2.5170	+0.922%	$28K	$11K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0087%	1h	2.5118	+0.714%	$77K	$239K	50x	as long as short
BloFin PENDLE-USDT	−0.0076%	8h	2.5132	+0.770%	$1.3M	$708K	75x	as long as short
Extended PENDLE-USD	−0.0072%	1h	2.5093	+0.612%	$165K	$528K	10x	as long as short
MEXC PENDLE_USDT	−0.0072%	8h	2.5114	+0.698%	$17.0M	$1.9M	125x	as long as short
Binance PENDLEUSDT	−0.0071%	8h	2.5114	+0.698%	$27.1M	$42.3M	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0010%	8h	2.5160	+0.882%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5143	+0.815%	$11K	—	5x	as long as short
GRVT PENDLE_USDT_Perp	+0.0014%	8h	2.5109	+0.677%	$425K	$1.6M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PENDLE	+0.0021%	8h	2.5077	+0.548%	$596K	$1.9M	—	as long as short
Reya PENDLERUSDPERP	+0.0047%	1h	2.5151	+0.848%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.5148	+0.832%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5125	+0.742%	$530K	$416K	5x	as long as short
Aster PENDLEUSDT	+0.0099%	8h	2.5120	+0.722%	$47K	$178K	10x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5110	+0.680%	$35K	$18K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5102	+0.650%	$15.5M	$12.0M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5100	+0.642%	$3.2M	$6.0M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5130	+0.762%	$775K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5134	+0.778%	$883K	$600K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5129	+0.758%	$3.7M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5119	+0.718%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5130	+0.760%	$25K	$382K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5185	+0.982%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5158	+0.874%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5167	+0.910%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0277%	1h	2.5165	+0.902%	$12.8M	$6.2M	5x	as long as short
Kraken Futures PF_PENDLEUSDshort	+0.0596%	1h	2.5196	+1.028%	$119K	$298K	20x
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+1.604%	$141K	$449K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0694%	1h	2.5185	+0.982%	$331K	$489K	15x	as long as short