PENDLE

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	PhemexPENDLEUSDT	2.3388	+0.0100	pay 0.0100% / 8h	5h 53m	$1.1M	$1.4M	20x	Long Phemex
SHORT	Kraken FuturesPF_PENDLEUSD	2.3424	−0.0252	pay 0.0032% / 1h	53m 15s	$328K	$181K	20x	Short Kraken Futures

Price gap+0.152%

Funding gap−0.0352% /8h

The gap pays +$6 on $10k if it goes back to its 7d average, but funding costs $11 a day and eats that in about 13 hours.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding−$44−0.0352% /8h now · paid −0.443% over the last 6 days (all we have)

Price+$6spread +0.152% now, avg +0.093% → +0.059% if it goes back

Costs−$1731.727% of $10k · taker + slippage, in and out

Result−$211−2.11%no pointsWhat the last 7D really paid, hour by hour → backtest

Funding history

you earnyou payavg

RANGE STATS · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Short leg rate minus long leg rate, per 8h. Above zero: the pair pays you.

Price spread between the two exchanges

Kraken Futures price against Phemexnow

RANGE STATS · 7D

Now+0.152%

Average—

Range—

Wider than now—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

PENDLE on 30 exchanges

lowest funding first

Before you open

1 ok · 4 to watch

Watch: Thin at this size32.0 / 55.4 bp
At $10k entering Kraken Futures costs 55.4 bp, fee and slippage, 1.7× Phemex’s.
Note: Margin at max leverage$500 + $500
Phemex 20x, Kraken Futures 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
Watch: Payment intervals differ8h / 1h
Payments land at different times. Close right after the slower leg pays.
Next 24h at the current rates, on $10k a leg: −$10.57Long Phemex: 3 payments, −$3.00; short Kraken Futures: 24 payments, −$7.57.
OK: Entry gap works for you+0.152% vs +0.093%
You short the dearer leg. If the gap goes back to average, the short gains.
Watch: Short leg is thinner$328K vs $1.1M OI
Kraken Futures sets your exit cost. Check its book before closing.
Note: No points program—
Neither exchange runs points right now.
Watch: KYCPhemex Yes · Kraken Futures Yes
KYC unlocks spot and futures trading; an unverified account cannot withdraw at all.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned−0.0257%/8h × 21 periods−$53.92

Price spread+0.152% → +0.093% (7d avg)+$5.93

Slippage, 4 orderslive order books−$150.74

Fee Phemex bp × 2 orders−$12.00

Fee Kraken Futures bp × 2 orders−$10.00

Net · 7 days · $10k−$220.73

Costs to cover1.727%Break-evennever at this rate

Slippage: Phemex: live order book, 4 min ago; Kraken Futures: live order book, 24 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGPhemex6.6332.0 bp−$32doesn’t fitdoesn’t fitdoesn’t fit

SELL · SHORTKraken Futures4.2955.4 bp−$55213.6 bp−$2,136doesn’t fitdoesn’t fit

Closing costs about the same again.

PENDLE news

posts that mention PENDLE, from every exchangeSearch all news →

09-24 18:20	Phemex	Other	Phemex Futures TradFi Listing: ethereum:0xaea46a60368a7bd060eec7df8cba43b7ef41ad85, ethereum:0x5a98fcbea516cf06857215779fd812ca3bef1b32, $PENDLE, ethereum:0x455e53cbb86018ac2b8092fdcd39d8444affc3f6, $CAKE, $INJ 🔹 Trading Zone: Perpetual 🔹 Max Leverage: Up to 50x 🔹 Trading Starts: @Phemex_official on X ↗
09-24 09:36	Phemex	Listing	new market PENDLEUSDT ($PENDLE) seen by our collector