PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0071%/8h= −7.7% APRnext payment −$0.71 per $10,000 · paid last 24h −0.003%

Price spread now: Binance against KuCoin−0.028%7-day average +0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$134as in the Funding arb table

Net, price: spread back to 7d avg − costs−$133as in the Price arb table

costs, in and out, $10k−$1271.270% of the position

Long on KuCoin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 on $10k

Price spread, last 7 days+0.092%+$9 · spread now −0.028%, 7d avg +0.031%

Together, before fees+0.023%+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Binance is 0.059% cheaper against KuCoin than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.031%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PENDLEUSDTM	2.5032	0.0100	pay 0.0100% / 8h	1h 42m	$894K	$623K	50x
Short	Binance PENDLEUSDT	2.5025	0.0029	get 0.0029% / 8h	1h 42m	$27.2M	$40.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against KuCoin. 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 KuCoinbpFee BinancebpOrdersPrice spread, now −0.028%Rate

Funding earned: −$14.83
Price spread: −0.028% → +0.031%: −$5.91
Slippage, 4 orders: −$105.05
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$147.8
Costs to cover: 1.270%
Break-even: never at this rate

Slippage from KuCoin: live order book, 32 min ago; Binance: live order book, 15 min ago.

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 KuCoin live order book, 32 min ago	8.16 bp	53.2 bp −$53	173.5 bp −$1,735	doesn't fit	doesn't fit
Sell Binance live order book, 15 min ago	1.20 bp	13.7 bp −$14	36.3 bp −$363	134.8 bp −$13.5K	doesn't fit

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	−0.3656%	1h	2.4770	−1.047%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0588%	1h	2.5052	+0.080%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5046	+0.057%	$11K	—	5x	as long as short
ApeX Omni PENDLEUSDT	+0.0019%	1h	2.4955	−0.308%	$76K	$240K	50x	as long as short
Orderly PERP_PENDLE_USDC	+0.0028%	8h	2.5048	+0.064%	$20K	$16K	10x	as long as short
MEXC PENDLE_USDT	+0.0029%	8h	2.5020	−0.048%	$16.9M	$2.1M	125x	as long as short
BloFin PENDLE-USDT	+0.0029%	8h	2.5013	−0.076%	$1.3M	$731K	75x	as long as short
Binance PENDLEUSDTshort	+0.0029%	8h	2.5025	−0.028%	$27.2M	$40.1M	75x
Extended PENDLE-USD	+0.0032%	1h	2.5031	−0.004%	$164K	$526K	10x	as long as short
Reya PENDLERUSDPERP	+0.0039%	1h	2.5022	−0.041%	$4K	—	15x	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	+0.0064%	8h	2.5033	+0.003%	$603K	$2.0M	—	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5039	+0.027%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5009	−0.092%	$525K	$422K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4988	−0.176%	$35K	$20K	10x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5014	−0.072%	$42K	$175K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5039	+0.028%	$15.4M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5050	+0.072%	$3.2M	$5.8M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5010	−0.088%	$785K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTMlong	+0.0100%	8h	2.5032	long leg	$894K	$623K	50x
Bitget PENDLEUSDT	+0.0100%	8h	2.5036	+0.016%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5032	0.000%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4938	−0.375%	$25K	$413K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.4964	−0.270%	$412K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5040	+0.032%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5065	+0.132%	$2K	$1.7M	20x	as long as short
Hyperliquid PENDLE	+0.0105%	1h	2.5061	+0.116%	$12.3M	$5.9M	5x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5039	+0.026%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5100	+0.272%	$139K	$461K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0751%	1h	2.5087	+0.221%	$147K	$278K	20x	as long as short
Backpack PENDLE_USDC_PERP	+0.0808%	1h	2.5081	+0.196%	$356K	$461K	15x	as long as short