PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0492%/8h= −53.9% APRnext payment −$0.61 per $10,000 · paid last 24h +0.029%

Price spread now: Polymarket Perps against Coinbase International−0.312%47s7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.122%−$12 on $10k

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 −$15 a day on $10k at the current rate, and Polymarket Perps is 0.312% cheaper against Coinbase International than usual: you would sell low and buy high (−$31 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.122% in total (about -6.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.61 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International PENDLE-PERP-INTX	2.5000	0.0592	pay 0.0074% / 1h	25m 27s	$139K	$461K	25x
Short	Polymarket Perps PENDLE-USD	2.4922	0.0100	get 0.0013% / 1h	25m 27s	$16K	$20K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Coinbase International. 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 Coinbase InternationalbpFee Polymarket PerpsbpOrdersPrice spread, now −0.312%Rate

Funding earned: −$103.32
Price spread: −0.312% → 0.000%: −$31.2
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$152.52
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 58 min ago; Polymarket Perps: 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 Coinbase International live order book, 58 min ago	11.85 bp	20.7 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps no order-book sample	—	—	—	—	—

Polymarket Perps: 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	−0.920%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0312%	1h	2.4888	−0.448%	$29K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0108%	1h	2.4910	−0.360%	$76K	$239K	50x	as long as short
BloFin PENDLE-USDT	−0.0002%	8h	2.4904	−0.384%	$1.3M	$736K	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4907	−0.371%	$10K	—	5x	as long as short
MEXC PENDLE_USDT	+0.0005%	8h	2.4889	−0.444%	$16.8M	$2.1M	125x	as long as short
Binance PENDLEUSDT	+0.0006%	8h	2.4893	−0.428%	$26.9M	$40.7M	75x	as long as short
Extended PENDLE-USD	+0.0008%	1h	2.4875	−0.499%	$164K	$526K	10x	as long as short
Orderly PERP_PENDLE_USDC	+0.0021%	8h	2.4885	−0.460%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0041%	1h	2.4897	−0.412%	$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	+0.0062%	8h	2.4902	−0.392%	$550K	$2.0M	—	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.4891	−0.434%	$26K	—	3x	as long as short
GRVT PENDLE_USDT_Perp	+0.0085%	8h	2.4901	−0.398%	$414K	$1.6M	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4897	−0.412%	$524K	$423K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4889	−0.444%	$35K	$20K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4936	−0.256%	$12.3M	$6.0M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4894	−0.423%	$43K	$176K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4900	−0.400%	$15.3M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4920	−0.320%	$3.2M	$5.9M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4880	−0.480%	$780K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4885	−0.460%	$889K	$613K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4891	−0.436%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4890	−0.440%	—	$36.2M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4897	−0.412%	$25K	$395K	10x	as long as short
Polymarket Perps PENDLE-USDshort	+0.0100%	1h	2.4922	−0.312%	$16K	$20K	5x
SunX PENDLE-USDT	+0.0100%	8h	2.4895	−0.420%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.4902	−0.393%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTXlong	+0.0592%	1h	2.5000	long leg	$139K	$461K	25x
Backpack PENDLE_USDC_PERP	+0.0658%	1h	2.4935	−0.260%	$352K	$474K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0755%	1h	2.4959	−0.165%	$120K	$304K	20x	as long as short