PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0953%/8h= −104.3% APRnext payment −$1.19 per $10,000 · paid last 24h −0.247%

Price spread now: GMX against Kraken Futures−0.343%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on GMX

What this pair did over the last

the charts below follow

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—needs both histories

Both sides work against this trade now: funding costs −$29 a day on $10k at the current rate, and GMX is 0.343% cheaper against Kraken Futures than usual: you would sell low and buy high (−$34 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	Kraken Futures PF_PENDLEUSD	2.4840	0.1175	pay 0.0147% / 1h	19m 07s	$116K	$262K	20x
Short	GMX PENDLE/USD [PENDLE-USDC]	2.4755	L +0.0196% / S −0.0222%	get 0.0028% / 1h	19m 07s	$5K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Kraken Futures. 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 Kraken FuturesbpFee GMXbpOrdersPrice spread, now −0.343%Rate

Funding earned: −$200.09
Price spread: −0.343% → 0.000%: −$34.3
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$256.39
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 28 min ago; GMX: 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 Kraken Futures live order book, 28 min ago	12.26 bp	77.2 bp −$77	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.3926%	1h	2.4200	−2.578%	$2K	$54K	5.5x	as long as short
Orderly PERP_PENDLE_USDC	−0.0035%	8h	2.4761	−0.319%	$19K	$15K	10x	as long as short
Gate PENDLE_USDT	−0.0016%	8h	2.4770	−0.283%	$732K	$1.1M	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4701	−0.562%	$10K	—	5x	as long as short
BloFin PENDLE-USDT	+0.0011%	8h	2.4787	−0.214%	$1.1M	$609K	75x	as long as short
MEXC PENDLE_USDT	+0.0030%	8h	2.4791	−0.198%	$17.6M	$2.0M	125x	as long as short
Extended PENDLE-USD	+0.0032%	1h	2.4756	−0.338%	$158K	$577K	10x	as long as short
Binance PENDLEUSDT	+0.0035%	8h	2.4788	−0.212%	$26.1M	$44.4M	75x	as long as short
Reya PENDLERUSDPERP	+0.0075%	1h	2.4757	−0.336%	$3K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.4751	−0.361%	$26K	—	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PENDLE	+0.0096%	1h	2.4770	−0.283%	$525K	$426K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4689	−0.609%	$35K	$9K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4830	−0.041%	$12.8M	$6.1M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4759	−0.326%	$47K	$171K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4760	−0.323%	$14.5M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4800	−0.162%	$3.2M	$6.6M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4772	−0.275%	$873K	$558K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4788	−0.210%	$3.7M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4774	−0.267%	—	$8.4M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4491	−1.407%	$551K	$1.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4507	−1.340%	$24K	$373K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.4500	−1.369%	$410K	$2.2M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4490	−1.410%	$74K	$234K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4777	−0.255%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4777	−0.255%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]short	L +0.0196% / S −0.0222%	1h	2.4755	−0.343%	$5K	—	100x
Deribit PENDLE_USDC-PERPETUAL	+0.0356%	1h	2.4772	−0.275%	$24K	$15K	10x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.4820	−0.082%	$158K	$530K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0805%	1h	2.4849	+0.035%	$360K	$402K	15x	as long as short
Kraken Futures PF_PENDLEUSDlong	+0.1175%	1h	2.4840	long leg	$116K	$262K	20x