PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0160%/8h= +17.5% APRnext payment +$0.20 per $10,000 · paid last 24h +0.045%

Price spread now: GMX against Lighter+0.238%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on GMX

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 airdropLighter: Season 3 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and GMX is 0.238% dearer against Lighter than usual: you sell high and buy low: +$24 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PENDLE	2.5134	0.0096	pay 0.0012% / 1h	7m 35s	$530K	$416K	5x
Short	GMX PENDLE/USD [PENDLE-USDC]	2.5194	L +0.0199% / S −0.0256%	get 0.0032% / 1h	7m 35s	$5K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.238%Rate

Funding earned: $33.62
Price spread: +0.238% → 0.000%: $23.83
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $45.45
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Lighter: live order book, 63 min ago; GMX: 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 Lighter live order book, 63 min ago	9.68 bp	10.7 bp −$11	73.8 bp −$738	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.5000%	1h	2.4940	−0.772%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0345%	1h	2.5182	+0.191%	$28K	$11K	10x	as long as short
BloFin PENDLE-USDT	−0.0086%	8h	2.5178	+0.175%	$1.3M	$709K	75x	as long as short
Extended PENDLE-USD	−0.0072%	1h	2.5111	−0.093%	$165K	$528K	10x	as long as short
Binance PENDLEUSDT	−0.0068%	8h	2.5124	−0.040%	$27.2M	$42.2M	75x	as long as short
MEXC PENDLE_USDT	−0.0068%	8h	2.5140	+0.024%	$17.0M	$1.9M	125x	as long as short
ApeX Omni PENDLEUSDT	−0.0061%	1h	2.5164	+0.119%	$77K	$239K	50x	as long as short
Orderly PERP_PENDLE_USDC	−0.0009%	8h	2.5176	+0.167%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5134	−0.001%	$11K	—	5x	as long as short
GRVT PENDLE_USDT_Perp	+0.0016%	8h	2.5177	+0.171%	$417K	$1.6M	10x	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	+0.0022%	8h	2.5081	−0.209%	$596K	$1.9M	—	as long as short
Reya PENDLERUSDPERP	+0.0047%	1h	2.5174	+0.160%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.5169	+0.140%	$26K	—	3x	as long as short
Lighter PENDLElong	+0.0096%	1h	2.5134	long leg	$530K	$416K	5x
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5126	−0.030%	$35K	$18K	10x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5150	+0.063%	$47K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5110	−0.095%	$15.5M	$12.0M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5110	−0.095%	$3.2M	$6.0M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5110	−0.095%	$776K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5159	+0.099%	$884K	$600K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5150	+0.064%	$3.7M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5122	−0.048%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5160	+0.104%	$25K	$381K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5196	+0.247%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5160	+0.103%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]short	L +0.0199% / S −0.0256%	1h	2.5194	+0.238%	$5K	—	100x
Hyperliquid PENDLE	+0.0314%	1h	2.5188	+0.215%	$12.8M	$6.2M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0595%	1h	2.5226	+0.366%	$119K	$298K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+0.820%	$141K	$450K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0677%	1h	2.5219	+0.338%	$331K	$489K	15x	as long as short