PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0066%/8h= +7.2% APRnext payment +$0.66 per $10,000 · paid last 24h −0.015%

Price spread now: Bybit against Orderly+0.079%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bybit is 0.079% dearer against Orderly than usual: you sell high and buy low: +$8 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	Orderly PERP_PENDLE_USDC	2.5211	−0.0013	get 0.0013% / 8h	7h 46m	$20K	$16K	10x
Short	Bybit PENDLEUSDT	2.5231	0.0052	get 0.0052% / 8h	7h 46m	$15.5M	$12.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Orderly. 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 OrderlybpFee BybitbpOrdersPrice spread, now +0.079%Rate

Funding earned: $13.81
Price spread: +0.079% → 0.000%: $7.93
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $4.75
Costs to cover: 0.170%
Break-even: 4.6 days

Slippage unknown: Orderly: no order-book sample; Bybit: live order book, 2 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 Orderly no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	3.96 bp	16.8 bp −$17	45.4 bp −$454	289.3 bp −$28.9K	doesn't fit

Orderly: 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	−0.4643%	1h	2.4860	−1.392%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0662%	1h	2.5209	−0.008%	$26K	$14K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0210%	1h	2.5256	+0.178%	$77K	$238K	50x	as long as short
Gate PENDLE_USDT	−0.0103%	8h	2.5230	+0.075%	$779K	$1.2M	75x	as long as short
BloFin PENDLE-USDT	−0.0085%	8h	2.5201	−0.040%	$1.3M	$710K	75x	as long as short
Binance PENDLEUSDT	−0.0075%	8h	2.5232	+0.083%	$27.3M	$42.6M	75x	as long as short
MEXC PENDLE_USDT	−0.0075%	8h	2.5233	+0.087%	$17.0M	$1.9M	125x	as long as short
Extended PENDLE-USD	−0.0072%	1h	2.5212	+0.005%	$164K	$622K	10x	as long as short
Orderly PERP_PENDLE_USDClong	−0.0013%	8h	2.5211	long leg	$20K	$16K	10x
dYdX PENDLE-USD	0.0000%	1h	2.5231	+0.079%	$11K	—	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	+0.0011%	8h	2.5116	−0.376%	$600K	$1.9M	—	as long as short
GRVT PENDLE_USDT_Perp	+0.0026%	8h	2.5260	+0.194%	$417K	$1.6M	10x	as long as short
Reya PENDLERUSDPERP	+0.0048%	1h	2.5199	−0.049%	$4K	—	15x	as long as short
Bybit PENDLEUSDTshort	+0.0052%	8h	2.5231	+0.079%	$15.5M	$12.1M	50x
Aevo PENDLE-PERP	+0.0064%	1h	2.5209	−0.008%	$26K	—	3x	as long as short
Aster PENDLEUSDT	+0.0087%	8h	2.5257	+0.181%	$47K	$178K	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5232	+0.083%	$534K	$413K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5207	−0.016%	$35K	$18K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5278	+0.266%	$12.8M	$6.3M	5x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5230	+0.075%	$3.2M	$6.1M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5261	+0.198%	$887K	$593K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5216	+0.020%	$3.8M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5240	+0.115%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5225	+0.056%	$25K	$382K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5219	+0.032%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5222	+0.044%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0203% / S −0.0382%	1h	2.5224	+0.050%	$7K	—	100x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0616%	1h	2.5262	+0.204%	$117K	$295K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0728%	1h	2.5310	+0.393%	$141K	$439K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0750%	1h	2.5257	+0.182%	$332K	$488K	15x	as long as short