PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0676%/8h= −74.1% APRnext payment −$0.85 per $10,000 · paid last 24h −0.136%

Price spread now: dYdX against Backpack−0.073%7-day average — · you buy dearer than you sell

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

Long on Backpack Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and dYdX is 0.073% cheaper against Backpack than usual: you would sell low and buy high (−$7 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	Backpack PENDLE_USDC_PERP	2.4947	0.0676	pay 0.0085% / 1h	31m 53s	$354K	$471K	15x
Short	dYdX PENDLE-USD	2.4929	0	get 0.0000% / 1h	31m 53s	$10K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Backpack. 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 BackpackbpFee dYdXbpOrdersPrice spread, now −0.073%Rate

Funding earned: −$142.02
Price spread: −0.073% → 0.000%: −$7.31
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$169.33
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 52 min ago; dYdX: 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 Backpack live order book, 52 min ago	1.77 bp	7.5 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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	−0.710%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0432%	1h	2.4898	−0.196%	$29K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0123%	1h	2.4925	−0.088%	$76K	$240K	50x	as long as short
BloFin PENDLE-USDT	−0.0001%	8h	2.4932	−0.060%	$1.3M	$740K	75x	as long as short
dYdX PENDLE-USDshort	0.0000%	1h	2.4929	−0.073%	$10K	—	5x
MEXC PENDLE_USDT	+0.0014%	8h	2.4890	−0.228%	$16.8M	$2.1M	125x	as long as short
Binance PENDLEUSDT	+0.0014%	8h	2.4897	−0.200%	$27.0M	$40.4M	75x	as long as short
Extended PENDLE-USD	+0.0016%	1h	2.4887	−0.242%	$164K	$526K	10x	as long as short
Orderly PERP_PENDLE_USDC	+0.0023%	8h	2.4901	−0.184%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0040%	1h	2.4894	−0.211%	$4K	—	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PENDLE	+0.0057%	8h	2.4947	+0.001%	$552K	$2.0M	—	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.4893	−0.218%	$26K	—	3x	as long as short
GRVT PENDLE_USDT_Perp	+0.0092%	8h	2.4914	−0.133%	$419K	$1.6M	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4900	−0.188%	$524K	$423K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4907	−0.161%	$35K	$20K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4943	−0.016%	$12.4M	$5.9M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4920	−0.107%	$43K	$173K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4890	−0.228%	$15.3M	$11.8M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4910	−0.148%	$3.2M	$5.8M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4880	−0.269%	$780K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4921	−0.104%	$892K	$613K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4886	−0.245%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4904	−0.172%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4921	−0.105%	$25K	$411K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4930	−0.068%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4917	−0.120%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.4917	−0.121%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5010	+0.253%	$139K	$461K	25x	as long as short
Backpack PENDLE_USDC_PERPlong	+0.0676%	1h	2.4947	long leg	$354K	$471K	15x
Kraken Futures PF_PENDLEUSD	+0.0755%	1h	2.4945	−0.009%	$134K	$290K	20x	as long as short