PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0496%/8h= +54.3% APRnext payment +$0.62 per $10,000 · paid last 24h +0.066%

Price spread now: Coinbase International against Lighter+0.397%7-day average +0.062% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.030%+$3 on $10k

Price spread, last 4 days (all we have)−0.179%−$18 · spread now +0.397%, 7d avg +0.062%

Together, before fees−0.149%+ Points / potential airdropLighter: Season 3 · farm board−$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Coinbase International is 0.335% dearer against Lighter than usual: you sell high and buy low: +$34 more if the spread goes back to its 7-day average of +0.062%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.030% in total (about 1.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.62 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	Lighter PENDLE	2.4433	0.0096	pay 0.0012% / 1h	41m 12s	$515K	$415K	5x
Short	Coinbase International PENDLE-PERP-INTX	2.4530	0.0592	get 0.0074% / 1h	41m 12s	$154K	$520K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.397%Rate

Funding earned: $104.16
Price spread: +0.397% → +0.062%: $33.54
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $127.7
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Lighter: live order book, 64 min ago; Coinbase International: live order book, 7 min ago. 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 Lighter live order book, 64 min ago	8.15 bp	8.9 bp −$9	67.1 bp −$671	doesn't fit	doesn't fit
Sell Coinbase International live order book, 7 min ago	12.23 bp	28.2 bp −$28	doesn't fit	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	−0.3926%	1h	2.4240	−0.790%	$2K	$54K	5.5x	as long as short
Gate PENDLE_USDT	−0.0053%	8h	2.4430	−0.012%	$717K	$1.1M	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0035%	8h	2.4427	−0.025%	$19K	$15K	10x	as long as short
Extended PENDLE-USD	−0.0008%	1h	2.4410	−0.094%	$157K	$579K	10x	as long as short
Binance PENDLEUSDT	−0.0007%	8h	2.4408	−0.102%	$25.7M	$44.2M	75x	as long as short
MEXC PENDLE_USDT	−0.0006%	8h	2.4428	−0.020%	$17.3M	$2.0M	125x	as long as short
BloFin PENDLE-USDT	−0.0003%	8h	2.4420	−0.053%	$1.1M	$599K	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4466	+0.136%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4431	−0.008%	$24K	$15K	10x	as long as short
Reya PENDLERUSDPERP	+0.0073%	1h	2.4435	+0.008%	$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	+0.0080%	1h	2.4420	−0.054%	$26K	—	3x	as long as short
Aster PENDLEUSDT	+0.0092%	8h	2.4432	−0.002%	$46K	$171K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0094%	8h	2.4470	+0.151%	$405K	$2.1M	10x	as long as short
Lighter PENDLElong	+0.0096%	1h	2.4433	long leg	$515K	$415K	5x
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4419	−0.055%	$34K	$9K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4473	+0.164%	$12.6M	$6.1M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4411	−0.090%	$14.3M	$12.0M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4440	+0.029%	$3.1M	$6.4M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4445	+0.049%	$861K	$554K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4427	−0.025%	$3.6M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4431	−0.008%	—	$8.4M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4451	+0.073%	$549K	$1.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4457	+0.098%	$24K	$373K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4466	+0.135%	$74K	$233K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4459	+0.106%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4423	−0.041%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4427	−0.024%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0538%	1h	2.4498	+0.266%	$353K	$402K	15x	as long as short
Coinbase International PENDLE-PERP-INTXshort	+0.0592%	1h	2.4530	+0.397%	$154K	$520K	25x
Kraken Futures PF_PENDLEUSD	+0.1192%	1h	2.4469	+0.147%	$115K	$263K	20x	as long as short