PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0144%/8h= −15.8% APRnext payment −$1.44 per $10,000 · paid last 24h −0.059%

Price spread now: Variational Omni against Paradex−0.155%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Variational Omni

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 airdropParadex: Active · Variational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Variational Omni is 0.155% cheaper against Paradex than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex PENDLE-USD-PERP	2.5084	0.0100	pay 0.0100% / 8h	6h 08m	$35K	$16K	10x
Short	Variational Omni PENDLE	2.5046	−0.0044	pay 0.0044% / 8h	6h 08m	$612K	$1.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Paradex. 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 ParadexbpFee Variational OmnibpOrdersPrice spread, now −0.155%Rate

Funding earned: −$30.26
Price spread: −0.155% → 0.000%: −$15.45
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$49.72
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Variational Omni: RFQ quote, 1 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 Paradex no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 1 min ago	6.72 bp	doesn't fit	45.1 bp −$451	doesn't fit	doesn't fit

Paradex: 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 29 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	−0.4742%	1h	2.4870	−0.855%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.1062%	1h	2.5125	+0.162%	$26K	$14K	10x	as long as short
Extended PENDLE-USD	−0.0136%	1h	2.5078	−0.024%	$163K	$570K	10x	as long as short
Binance PENDLEUSDT	−0.0135%	8h	2.5120	+0.143%	$27.0M	$43.5M	75x	as long as short
MEXC PENDLE_USDT	−0.0132%	8h	2.5116	+0.126%	$17.4M	$1.8M	125x	as long as short
GRVT PENDLE_USDT_Perp	−0.0120%	8h	2.5084	−0.004%	$422K	$1.7M	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0113%	1h	2.5065	−0.077%	$76K	$236K	50x	as long as short
Gate PENDLE_USDT	−0.0079%	8h	2.5110	+0.102%	$758K	$1.2M	75x	as long as short
Variational Omni PENDLEshort	−0.0044%	8h	2.5046	−0.155%	$612K	$1.8M	—
Aster PENDLEUSDT	−0.0042%	8h	2.5109	+0.097%	$50K	$181K	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PENDLE_USDC	−0.0038%	8h	2.5121	+0.146%	$20K	$15K	10x	as long as short
Bybit PENDLEUSDT	−0.0012%	8h	2.5130	+0.182%	$15.2M	$12.0M	50x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5084	−0.002%	$11K	—	5x	as long as short
Aevo PENDLE-PERP	+0.0048%	1h	2.5115	+0.122%	$26K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0056%	1h	2.5119	+0.137%	$4K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5099	+0.058%	$534K	$416K	5x	as long as short
Paradex PENDLE-USD-PERPlong	+0.0100%	8h	2.5084	long leg	$35K	$16K	10x
Hyperliquid PENDLE	+0.0100%	1h	2.5155	+0.282%	$12.9M	$6.3M	5x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5110	+0.102%	$3.2M	$6.1M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5101	+0.066%	$867K	$593K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5102	+0.070%	$3.8M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5108	+0.094%	—	$33.6M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5068	−0.065%	$25K	$378K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5132	+0.190%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5148	+0.254%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0158% / S −0.0256%	1h	2.5148	+0.255%	$7K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0386%	1h	2.5117	+0.130%	$352K	$481K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0632%	1h	2.5060	−0.097%	$144K	$470K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0867%	1h	2.5148	+0.254%	$117K	$289K	20x	as long as short