PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0491%/8h= −53.7% APRnext payment −$0.61 per $10,000 · paid last 24h −0.047%

Price spread now: Reya against Coinbase International−0.201%7-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 Reya

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 −$15 a day on $10k at the current rate, and Reya is 0.201% cheaper against Coinbase International than usual: you would sell low and buy high (−$20 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	Coinbase International PENDLE-PERP-INTX	2.4890	0.0552	pay 0.0069% / 1h	8m 12s	$148K	$494K	25x
Short	Reya PENDLERUSDPERP	2.4840	0.0061	get 0.0008% / 1h	8m 12s	$4K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ReyabpOrdersPrice spread, now −0.201%Rate

Funding earned: −$103.08
Price spread: −0.201% → 0.000%: −$20.07
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$139.15
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 55 min ago; Reya: 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, 55 min ago	9.97 bp	18.9 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

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	−0.4938%	1h	2.4720	−0.683%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0112%	1h	2.4848	−0.169%	$26K	$14K	10x	as long as short
BloFin PENDLE-USDT	−0.0095%	8h	2.4870	−0.080%	$1.3M	$652K	75x	as long as short
Extended PENDLE-USD	−0.0072%	1h	2.4830	−0.240%	$162K	$573K	10x	as long as short
Binance PENDLEUSDT	−0.0072%	8h	2.4836	−0.218%	$26.5M	$43.7M	75x	as long as short
MEXC PENDLE_USDT	−0.0070%	8h	2.4841	−0.197%	$17.4M	$1.9M	125x	as long as short
Orderly PERP_PENDLE_USDC	−0.0036%	8h	2.4847	−0.173%	$19K	$15K	10x	as long as short
Aster PENDLEUSDT	−0.0026%	8h	2.4837	−0.212%	$47K	$177K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4843	−0.191%	$10K	—	5x	as long as short
Gate PENDLE_USDT	+0.0021%	8h	2.4840	−0.201%	$721K	$1.1M	75x	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	+0.0023%	8h	2.4940	+0.201%	$566K	$1.8M	—	as long as short
Reya PENDLERUSDPERPshort	+0.0061%	1h	2.4840	−0.201%	$4K	—	15x
Aevo PENDLE-PERP	+0.0064%	1h	2.4849	−0.165%	$26K	—	3x	as long as short
GRVT PENDLE_USDT_Perp	+0.0087%	8h	2.4958	+0.275%	$413K	$1.8M	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4842	−0.193%	$530K	$418K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4856	−0.137%	$35K	$15K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4876	−0.056%	$12.7M	$6.0M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4840	−0.201%	$14.8M	$12.3M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4830	−0.241%	$3.1M	$6.2M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4852	−0.153%	$840K	$574K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4830	−0.241%	$3.7M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4841	−0.197%	—	$33.5M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4947	+0.228%	$25K	$377K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4992	+0.410%	$76K	$235K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4873	−0.068%	$16K	$8K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4835	−0.221%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0158% / S −0.0257%	1h	2.4845	−0.180%	$7K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTXlong	+0.0552%	1h	2.4890	long leg	$148K	$494K	25x
Kraken Futures PF_PENDLEUSD	+0.0753%	1h	2.4901	+0.044%	$116K	$278K	20x	as long as short
Backpack PENDLE_USDC_PERP	+0.0783%	1h	2.4912	+0.088%	$360K	$488K	15x	as long as short