PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.4694%/8h= −514.0% APRnext payment −$5.87 per $10,000 · paid last 24h −0.490%

Price spread now: Injective against Reya−1.032%7-day average — · you buy dearer than you sell

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

Long on Reya Short on Injective

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 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$141 a day on $10k at the current rate, and Injective is 1.032% cheaper against Reya than usual: you would sell low and buy high (−$103 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	Reya PENDLERUSDPERP	2.5230	0.0051	pay 0.0006% / 1h	16m 37s	$4K	—	15x
Short	Injective PENDLE/USDC PERP	2.4970	−0.4643	pay 0.0580% / 1h	16m 37s	$2K	$54K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −1.032%Rate

Funding earned: −$985.73
Price spread: −1.032% → 0.000%: −$103.19
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1,094.94
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Injective: no order-book sample. 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 Injective no order-book sample	—	—	—	—	—

Reya and Injective: 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 PERPshort	−0.4643%	1h	2.4970	−1.032%	$2K	$54K	5.5x
Deribit PENDLE_USDC-PERPETUAL	−0.0463%	1h	2.5226	−0.017%	$26K	$14K	10x	as long as short
Bybit PENDLEUSDT	−0.0131%	8h	2.5270	+0.157%	$15.5M	$11.9M	50x	as long as short
GRVT PENDLE_USDT_Perp	−0.0121%	8h	2.5264	+0.134%	$427K	$1.6M	10x	as long as short
Binance PENDLEUSDT	−0.0100%	8h	2.5295	+0.256%	$27.3M	$42.6M	75x	as long as short
MEXC PENDLE_USDT	−0.0099%	8h	2.5292	+0.244%	$17.1M	$1.9M	125x	as long as short
Extended PENDLE-USD	−0.0096%	1h	2.5265	+0.138%	$164K	$570K	10x	as long as short
BloFin PENDLE-USDT	−0.0084%	8h	2.5219	−0.045%	$1.3M	$669K	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0024%	8h	2.5224	−0.025%	$20K	$16K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0010%	1h	2.5280	+0.197%	$77K	$237K	50x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENDLE-USD	0.0000%	1h	2.5286	+0.220%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0002%	8h	2.5241	+0.042%	$608K	$1.8M	—	as long as short
Aster PENDLEUSDT	+0.0041%	8h	2.5303	+0.288%	$47K	$173K	10x	as long as short
Gate PENDLE_USDT	+0.0045%	8h	2.5280	+0.197%	$784K	$1.2M	75x	as long as short
Reya PENDLERUSDPERPlong	+0.0051%	1h	2.5230	long leg	$4K	—	15x
Aevo PENDLE-PERP	+0.0056%	1h	2.5213	−0.068%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5287	+0.224%	$537K	$418K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5281	+0.202%	$35K	$18K	10x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5290	+0.236%	$3.2M	$6.0M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5281	+0.201%	$885K	$587K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5269	+0.153%	$3.8M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5269	+0.153%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5263	+0.128%	$25K	$381K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5248	+0.070%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5229	−0.005%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0203% / S −0.0382%	1h	2.5245	+0.056%	$7K	—	100x	as long as short
Hyperliquid PENDLE	+0.0366%	1h	2.5347	+0.462%	$13.0M	$6.4M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0616%	1h	2.5277	+0.186%	$118K	$293K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0728%	1h	2.5320	+0.355%	$143K	$460K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0844%	1h	2.5275	+0.177%	$354K	$489K	15x	as long as short