PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0066%/8h= +7.2% APRnext payment +$0.08 per $10,000 · paid last 24h +0.048%

Price spread now: Hyperliquid against Reya+0.119%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Hyperliquid

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 airdropReya: Active · Hyperliquid: Season 2 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hyperliquid is 0.119% dearer against Reya than usual: you sell high and buy low: +$12 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	Reya PENDLERUSDPERP	2.5198	0.0034	pay 0.0004% / 1h	41m 03s	$4K	—	15x
Short	Hyperliquid PENDLE	2.5228	0.0100	get 0.0013% / 1h	41m 03s	$12.4M	$5.6M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Reya. 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 ReyabpFee HyperliquidbpOrdersPrice spread, now +0.119%Rate

Funding earned: $13.78
Price spread: +0.119% → 0.000%: $11.93
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $10.7
Costs to cover: 0.150%
Break-even: 1.6 days

Slippage unknown: Reya: no order-book sample; Hyperliquid: live order book, 12 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 Reya no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 12 min ago	0.20 bp	12.0 bp −$12	doesn't fit	doesn't fit	doesn't fit

Reya: 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	−0.4806%	1h	2.4860	−1.341%	$2K	$7K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0429%	1h	2.5254	+0.223%	$150K	$279K	20x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0186%	1h	2.5214	+0.064%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5194	−0.016%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0015%	8h	2.5150	−0.190%	$608K	$2.3M	—	as long as short
Reya PENDLERUSDPERPlong	+0.0034%	1h	2.5198	long leg	$4K	—	15x
Orderly PERP_PENDLE_USDC	+0.0036%	8h	2.5210	+0.048%	$23K	$8K	10x	as long as short
Extended PENDLE-USD	+0.0040%	1h	2.5184	−0.053%	$165K	$524K	10x	as long as short
MEXC PENDLE_USDT	+0.0041%	8h	2.5198	0.000%	$16.9M	$2.2M	125x	as long as short
Binance PENDLEUSDT	+0.0043%	8h	2.5190	−0.033%	$27.5M	$39.1M	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin PENDLE-USDT	+0.0065%	8h	2.5193	−0.020%	$1.3M	$769K	75x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5204	+0.024%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5200	+0.008%	$545K	$385K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5190	−0.033%	$35K	$22K	10x	as long as short
Hyperliquid PENDLEshort	+0.0100%	1h	2.5228	+0.119%	$12.4M	$5.6M	5x
Aster PENDLEUSDT	+0.0100%	8h	2.5210	+0.048%	$41K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5180	−0.071%	$15.6M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5200	+0.008%	$3.3M	$5.7M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5200	+0.008%	$847K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5207	+0.036%	$914K	$609K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5185	−0.051%	$3.7M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5199	+0.004%	—	$36.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5181	−0.067%	$25K	$414K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5123	−0.299%	$422K	$1.6M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.5196	−0.008%	$77K	$239K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5226	+0.111%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5207	+0.036%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5214	+0.063%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5270	+0.286%	$118K	$437K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0869%	1h	2.5260	+0.246%	$366K	$465K	15x	as long as short