PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0050%/8h= +5.5% APRnext payment +$0.50 per $10,000 · paid last 24h 0.000%

Price spread now: GRVT against Orderly+0.047%70s7-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 GRVT

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—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and GRVT is 0.047% dearer against Orderly than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 70 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	Orderly PERP_PENDLE_USDC	2.5213	0.0000	get 0.0000% / 8h	33m 54s	$20K	$16K	10x
Short	GRVT PENDLE_USDT_Perp	2.5225	0.0050	get 0.0050% / 8h	33m 54s	$418K	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.047%Rate

Funding earned: $10.54
Price spread: +0.047% → 0.000%: $4.65
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $0.19
Costs to cover: 0.150%
Break-even: 6.9 days

Slippage unknown: Orderly: no order-book sample; GRVT: live order book, 4 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 GRVT live order book, 4 min ago	1.59 bp	9.7 bp −$10	27.5 bp −$275	doesn't fit	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	−0.5000%	1h	2.4940	−1.083%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0424%	1h	2.5217	+0.016%	$30K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0090%	1h	2.5215	+0.008%	$77K	$239K	50x	as long as short
BloFin PENDLE-USDT	−0.0054%	8h	2.5198	−0.059%	$1.3M	$752K	75x	as long as short
Binance PENDLEUSDT	−0.0027%	8h	2.5211	−0.008%	$27.3M	$41.9M	75x	as long as short
MEXC PENDLE_USDT	−0.0026%	8h	2.5206	−0.028%	$17.1M	$1.9M	125x	as long as short
Extended PENDLE-USD	−0.0024%	1h	2.5190	−0.090%	$166K	$528K	10x	as long as short
Orderly PERP_PENDLE_USDClong	0.0000%	8h	2.5213	long leg	$20K	$16K	10x
dYdX PENDLE-USD	0.0000%	1h	2.5242	+0.114%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0043%	8h	2.5187	−0.103%	$594K	$1.9M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya PENDLERUSDPERP	+0.0045%	1h	2.5207	−0.022%	$4K	—	15x	as long as short
GRVT PENDLE_USDT_Perpshort	+0.0050%	8h	2.5225	+0.047%	$418K	$1.6M	10x
Aevo PENDLE-PERP	+0.0072%	1h	2.5210	−0.010%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5219	+0.024%	$531K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5212	−0.003%	$35K	$18K	10x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5238	+0.100%	$46K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5191	−0.087%	$15.5M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5200	−0.052%	$3.2M	$6.1M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5200	−0.052%	$783K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5245	+0.127%	$893K	$600K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5209	−0.016%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5213	0.000%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5204	−0.037%	$25K	$396K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5238	+0.099%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5218	+0.020%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5230	+0.069%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0237%	1h	2.5276	+0.250%	$12.7M	$6.1M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0594%	1h	2.5266	+0.210%	$120K	$299K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+0.504%	$141K	$458K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0817%	1h	2.5256	+0.171%	$329K	$491K	15x	as long as short