PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0077%/8h= −8.5% APRnext payment −$0.10 per $10,000 · paid last 24h −0.003%

Price spread now: ApeX Omni against Lighter−0.324%78s7-day average +0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as 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−$490.495% of the position

Long on Lighter Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.117%−$12 on $10k

Price spread, last 3 days (all we have)+0.697%+$70 · spread now −0.324%, 7d avg +0.043%

Together, before fees+0.580%+ Points / potential airdropLighter: Season 3 · farm board+$58 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 ApeX Omni is 0.366% cheaper against Lighter than usual: you would sell low and buy high (−$37 if the spread goes back to its 7-day average of +0.043%). Swap the legs. The two prices were read 78 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	Lighter PENDLE	2.5036	0.0096	pay 0.0012% / 1h	42m 05s	$525K	$422K	5x
Short	ApeX Omni PENDLEUSDT	2.4955	0.0019	get 0.0002% / 1h	42m 05s	$76K	$240K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Lighter. 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 LighterbpFee ApeX OmnibpOrdersPrice spread, now −0.324%Rate

Funding earned: −$16.23
Price spread: −0.324% → +0.043%: −$36.63
Slippage, 4 orders: −$39.49
Fee Lighter: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$102.36
Costs to cover: 0.495%
Break-even: never at this rate

Slippage from Lighter: live order book, 33 min ago; ApeX Omni: live order book, 39 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 Lighter live order book, 33 min ago	10.75 bp	14.5 bp −$15	67.4 bp −$674	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 39 min ago	3.37 bp	11.6 bp −$12	97.6 bp −$976	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	−0.3656%	1h	2.4770	−1.062%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0588%	1h	2.5052	+0.064%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5046	+0.041%	$11K	—	5x	as long as short
ApeX Omni PENDLEUSDTshort	+0.0019%	1h	2.4955	−0.324%	$76K	$240K	50x
Orderly PERP_PENDLE_USDC	+0.0028%	8h	2.5048	+0.048%	$20K	$16K	10x	as long as short
MEXC PENDLE_USDT	+0.0029%	8h	2.5050	+0.056%	$16.9M	$2.1M	125x	as long as short
BloFin PENDLE-USDT	+0.0029%	8h	2.5013	−0.092%	$1.3M	$731K	75x	as long as short
Binance PENDLEUSDT	+0.0029%	8h	2.5033	−0.012%	$27.2M	$40.1M	75x	as long as short
Extended PENDLE-USD	+0.0032%	1h	2.5031	−0.020%	$164K	$526K	10x	as long as short
Reya PENDLERUSDPERP	+0.0039%	1h	2.5022	−0.057%	$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	−0.012%	$603K	$2.0M	—	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5039	+0.011%	$26K	—	3x	as long as short
Lighter PENDLElong	+0.0096%	1h	2.5036	long leg	$525K	$422K	5x
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4988	−0.192%	$35K	$20K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5077	+0.164%	$12.3M	$5.9M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5016	−0.079%	$42K	$175K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5030	−0.024%	$15.4M	$11.8M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5050	+0.056%	$3.2M	$5.8M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5020	−0.064%	$785K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5057	+0.084%	$894K	$623K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5029	−0.028%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5036	0.000%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4938	−0.391%	$25K	$413K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.4964	−0.286%	$412K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5040	+0.016%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5065	+0.116%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5039	+0.010%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5100	+0.256%	$139K	$461K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0751%	1h	2.5087	+0.205%	$147K	$278K	20x	as long as short
Backpack PENDLE_USDC_PERP	+0.0789%	1h	2.5095	+0.236%	$357K	$461K	15x	as long as short