PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.1088%/8h= −119.2% APRnext payment −$1.36 per $10,000 · paid last 24h −0.293%

Price spread now: Polymarket Perps against Kraken Futures−0.209%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 Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.414%−$41 on $10k

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 −$33 a day on $10k at the current rate, and Polymarket Perps is 0.209% cheaper against Kraken Futures than usual: you would sell low and buy high (−$21 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.414% in total (about -21.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.36 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	Kraken Futures PF_PENDLEUSD	2.4555	0.1188	pay 0.0149% / 1h	22m 38s	$115K	$262K	20x
Short	Polymarket Perps PENDLE-USD	2.4504	0.0100	get 0.0013% / 1h	22m 38s	$16K	$7K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.209%Rate

Funding earned: −$228.52
Price spread: −0.209% → 0.000%: −$20.85
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$267.38
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 25 min ago; Polymarket Perps: 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, 25 min ago	12.26 bp	77.2 bp −$77	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps no order-book sample	—	—	—	—	—

Polymarket Perps: 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	−1.447%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0444%	1h	2.4489	−0.270%	$24K	$15K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0036%	8h	2.4483	−0.294%	$19K	$15K	10x	as long as short
Gate PENDLE_USDT	−0.0025%	8h	2.4480	−0.306%	$718K	$1.1M	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4476	−0.322%	$10K	—	5x	as long as short
MEXC PENDLE_USDT	+0.0023%	8h	2.4495	−0.245%	$17.4M	$2.0M	125x	as long as short
Extended PENDLE-USD	+0.0024%	1h	2.4485	−0.285%	$157K	$577K	10x	as long as short
Binance PENDLEUSDT	+0.0026%	8h	2.4498	−0.234%	$25.8M	$44.3M	75x	as long as short
BloFin PENDLE-USDT	+0.0032%	8h	2.4483	−0.294%	$1.1M	$601K	75x	as long as short
Reya PENDLERUSDPERP	+0.0074%	1h	2.4481	−0.303%	$3K	—	15x	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	+0.0088%	1h	2.4480	−0.304%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4502	−0.217%	$516K	$416K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4495	−0.246%	$34K	$9K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4544	−0.046%	$12.6M	$6.1M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4498	−0.234%	$46K	$171K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4490	−0.266%	$14.3M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4520	−0.143%	$3.1M	$6.5M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4503	−0.213%	$864K	$555K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4485	−0.286%	$3.6M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4497	−0.237%	—	$8.4M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4441	−0.465%	$549K	$1.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4427	−0.524%	$24K	$371K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.4483	−0.294%	$405K	$2.2M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4429	−0.514%	$74K	$234K	50x	as long as short
Polymarket Perps PENDLE-USDshort	+0.0100%	1h	2.4504	−0.209%	$16K	$7K	5x
SunX PENDLE-USDT	+0.0100%	8h	2.4480	−0.306%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4488	−0.275%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.4570	+0.060%	$155K	$524K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0711%	1h	2.4544	−0.046%	$356K	$401K	15x	as long as short
Kraken Futures PF_PENDLEUSDlong	+0.1188%	1h	2.4555	long leg	$115K	$262K	20x