PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.1584%/8h= −173.4% APRnext payment −$1.98 per $10,000 · paid last 24h −0.307%

Price spread now: Reya against Kraken Futures−0.217%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 Reya

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—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$48 a day on $10k at the current rate, and Reya is 0.217% cheaper against Kraken Futures than usual: you would sell low and buy high (−$22 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	2.4526	0.1662	pay 0.0208% / 1h	33m 45s	$115K	$262K	20x
Short	Reya PENDLERUSDPERP	2.4473	0.0078	get 0.0010% / 1h	33m 45s	$3K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.217%Rate

Funding earned: −$332.55
Price spread: −0.217% → 0.000%: −$21.66
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$370.21
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 9 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 Kraken Futures live order book, 9 min ago	16.33 bp	87.0 bp −$87	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	−0.4348%	1h	2.4250	−1.124%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0117%	1h	2.4483	−0.174%	$25K	$16K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0028%	8h	2.4475	−0.207%	$19K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4510	−0.063%	$10K	—	5x	as long as short
Gate PENDLE_USDT	+0.0006%	8h	2.4480	−0.186%	$752K	$1.0M	75x	as long as short
Extended PENDLE-USD	+0.0040%	1h	2.4500	−0.105%	$158K	$478K	10x	as long as short
MEXC PENDLE_USDT	+0.0042%	8h	2.4504	−0.088%	$17.5M	$2.0M	125x	as long as short
Binance PENDLEUSDT	+0.0042%	8h	2.4504	−0.088%	$25.9M	$45.1M	75x	as long as short
BloFin PENDLE-USDT	+0.0045%	8h	2.4479	−0.190%	$1.1M	$497K	75x	as long as short
Reya PENDLERUSDPERPshort	+0.0078%	1h	2.4473	−0.217%	$3K	—	15x

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	−0.188%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4515	−0.043%	$519K	$416K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4496	−0.120%	$34K	$7K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4526	+0.001%	$12.7M	$6.1M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4500	−0.105%	$47K	$169K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4490	−0.145%	$14.3M	$12.3M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4520	−0.023%	$3.1M	$6.6M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4503	−0.092%	$873K	$558K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4510	−0.064%	$3.8M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4498	−0.113%	—	$8.4M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4476	−0.204%	$565K	$1.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4493	−0.135%	$24K	$371K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.4493	−0.134%	$412K	$2.3M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4501	−0.101%	$75K	$232K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4499	−0.109%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4497	−0.117%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4491	−0.140%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0538%	1h	2.4533	+0.030%	$351K	$433K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0688%	1h	2.4530	+0.018%	$159K	$505K	25x	as long as short
Kraken Futures PF_PENDLEUSDlong	+0.1662%	1h	2.4526	long leg	$115K	$262K	20x