PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0056%/8h= +6.2% APRnext payment +$0.07 per $10,000 · paid last 24h +0.034%

Price spread now: Lighter against Reya+0.160%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 Lighter

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 · Lighter: Season 3 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.160% dearer against Reya than usual: you sell high and buy low: +$16 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	2.4960	0.0040	pay 0.0005% / 1h	37m 19s	$4K	—	15x
Short	Lighter PENDLE	2.5000	0.0096	get 0.0012% / 1h	37m 19s	$525K	$422K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.160%Rate

Funding earned: $11.86
Price spread: +0.160% → 0.000%: $16.04
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: $21.89
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Lighter: live order book, 38 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 Lighter live order book, 38 min ago	10.75 bp	11.3 bp −$11	112.8 bp −$1,128	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	−0.3656%	1h	2.4770	−0.761%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0470%	1h	2.4989	+0.116%	$29K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5043	+0.334%	$11K	—	5x	as long as short
Binance PENDLEUSDT	+0.0023%	8h	2.4983	+0.092%	$27.1M	$40.2M	75x	as long as short
BloFin PENDLE-USDT	+0.0023%	8h	2.5012	+0.208%	$1.3M	$731K	75x	as long as short
Extended PENDLE-USD	+0.0024%	1h	2.4967	+0.029%	$164K	$526K	10x	as long as short
MEXC PENDLE_USDT	+0.0024%	8h	2.4965	+0.020%	$16.8M	$2.1M	125x	as long as short
Orderly PERP_PENDLE_USDC	+0.0026%	8h	2.4983	+0.092%	$20K	$16K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0029%	1h	2.5044	+0.337%	$76K	$240K	50x	as long as short
Reya PENDLERUSDPERPlong	+0.0040%	1h	2.4960	long leg	$4K	—	15x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PENDLE	+0.0065%	8h	2.5012	+0.209%	$553K	$2.0M	—	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.4975	+0.062%	$26K	—	3x	as long as short
Lighter PENDLEshort	+0.0096%	1h	2.5000	+0.160%	$525K	$422K	5x
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4983	+0.092%	$35K	$20K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5004	+0.176%	$12.3M	$5.8M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5012	+0.210%	$42K	$175K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4990	+0.120%	$15.4M	$11.8M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4980	+0.080%	$3.2M	$5.8M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5020	+0.240%	$785K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5012	+0.208%	$894K	$609K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5008	+0.192%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4984	+0.096%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5029	+0.277%	$25K	$410K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5027	+0.267%	$421K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4994	+0.136%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4996	+0.144%	$1K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.4992	+0.130%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5100	+0.561%	$139K	$462K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0753%	1h	2.5028	+0.273%	$147K	$278K	20x	as long as short
Backpack PENDLE_USDC_PERP	+0.0772%	1h	2.5071	+0.445%	$358K	$463K	15x	as long as short