PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0171%/8h= −18.7% APRnext payment −$1.71 per $10,000 · paid last 24h −0.018%

Price spread now: BloFin against KuCoin+0.146%95s7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$970.972% of the position

Long on KuCoin Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.086%−$9 on $10k

Price spread, last 4 days (all we have)−0.024%−$2 · spread now +0.146%, 7d avg +0.001%

Together, before fees−0.110%−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.145% dearer against KuCoin than usual: you sell high and buy low (spread +0.146% now, against its 7-day average of +0.001%): +$14 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 2.8 days. At the pace of the last 7 days (−0.086% in total) that is about 12 days. The two prices were read 95 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PENDLEUSDTM	2.4648	0.0100	pay 0.0100% / 8h	4h 25m	$866K	$577K	50x
Short	BloFin PENDLE-USDT	2.4684	−0.0071	pay 0.0071% / 8h	4h 25m	$1.1M	$606K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.146%Rate

Funding earned: −$35.87
Price spread: +0.146% → +0.001%: $14.49
Slippage, 4 orders: −$73.21
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$118.6
Costs to cover: 0.972%
Break-even: never at this rate

Slippage from KuCoin: live order book, 14 min ago; BloFin: live order book, 7 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, 14 min ago	9.52 bp	47.4 bp −$47	149.0 bp −$1,490	doesn't fit	doesn't fit
Sell BloFin live order book, 7 min ago	2.23 bp	8.9 bp −$9	25.5 bp −$255	doesn't fit	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	−0.4334%	1h	2.4340	−1.250%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0155%	1h	2.4678	+0.122%	$25K	$14K	10x	as long as short
BloFin PENDLE-USDTshort	−0.0071%	8h	2.4684	+0.146%	$1.1M	$606K	75x
Gate PENDLE_USDT	−0.0059%	8h	2.4660	+0.049%	$719K	$1.1M	75x	as long as short
Binance PENDLEUSDT	−0.0051%	8h	2.4636	−0.049%	$26.1M	$43.6M	75x	as long as short
Extended PENDLE-USD	−0.0048%	1h	2.4635	−0.052%	$159K	$574K	10x	as long as short
MEXC PENDLE_USDT	−0.0048%	8h	2.4633	−0.061%	$17.2M	$2.0M	125x	as long as short
Orderly PERP_PENDLE_USDC	−0.0036%	8h	2.4676	+0.114%	$19K	$15K	10x	as long as short
Aster PENDLEUSDT	−0.0033%	8h	2.4677	+0.116%	$47K	$179K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4645	−0.013%	$10K	—	5x	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	+0.0048%	8h	2.4650	+0.010%	$553K	$1.5M	—	as long as short
Reya PENDLERUSDPERP	+0.0065%	1h	2.4667	+0.075%	$3K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0072%	1h	2.4659	+0.045%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4634	−0.057%	$516K	$424K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4624	−0.096%	$34K	$13K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4630	−0.073%	$14.6M	$12.0M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4650	+0.008%	$3.1M	$6.1M	50x	as long as short
KuCoin PENDLEUSDTMlong	+0.0100%	8h	2.4648	long leg	$866K	$577K	50x
Bitget PENDLEUSDT	+0.0100%	8h	2.4635	−0.053%	$3.7M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4637	−0.045%	—	$8.6M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4713	+0.263%	$24K	$378K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.4727	+0.321%	$414K	$1.9M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4768	+0.487%	$75K	$235K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4688	+0.162%	$16K	$8K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4690	+0.170%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4677	+0.118%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0405%	1h	2.4663	+0.061%	$12.7M	$6.1M	5x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0608%	1h	2.4820	+0.698%	$148K	$497K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0739%	1h	2.4698	+0.203%	$357K	$468K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1178%	1h	2.4681	+0.134%	$115K	$269K	20x	as long as short