PENDLE

Alert

Funding spread now, next payment 18:00 UTC+0.0703%/8h

next payment, per $10,000+$0.88paid, last 24h+0.144%paid, last 5 days+0.921%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit PENDLE_USDC-PERPETUAL	2.5406	−0.0025	get 0.0003% / 1h	39m 55s	$30K	$11K	10x
Short	Backpack PENDLE_USDC_PERP	2.5435	0.0677	get 0.0085% / 1h	39m 55s	$376K	$456K	15x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee BackpackbpOrdersRate

Funding earned: $147.53
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: $130.53
Break-even: 0.8 days

Slippage unknown: Deribit: no order-book sample; Backpack: live order book, 65 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.114%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Deribit no order-book sample	—	—	—	—	—
Sell Backpack live order book, 65 min ago	2.31 bp	7.8 bp −$8	83.8 bp −$838	doesn't fit	doesn't fit

Deribit: 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 29 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Injective PENDLE/USDC PERP	−0.4277%	1h	$2K	$7K	5.5x	as long as short
Variational Omni PENDLE	−0.0235%	8h	$663K	$2.2M	—	as long as short
Aster PENDLEUSDT	−0.0032%	8h	$51K	$133K	10x	as long as short
Deribit PENDLE_USDC-PERPETUALlong	−0.0025%	1h	$30K	$11K	10x
dYdX PENDLE-USD	0.0000%	1h	$11K	—	5x	as long as short
Reya PENDLERUSDPERP	+0.0015%	1h	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.0049%	8h	$20K	$4K	10x	as long as short
Gate PENDLE_USDT	+0.0050%	8h	$816K	$1.1M	75x	as long as short
BloFin PENDLE-USDT	+0.0056%	8h	$1.4M	$845K	75x	as long as short
Extended PENDLE-USD	+0.0056%	1h	$167K	$520K	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Binance PENDLEUSDT	+0.0058%	8h	$27.9M	$34.9M	75x	as long as short
MEXC PENDLE_USDT	+0.0059%	8h	$16.8M	$2.2M	125x	as long as short
Bybit PENDLEUSDT	+0.0063%	8h	$15.8M	$11.8M	50x	as long as short
Lighter PENDLE	+0.0096%	1h	$555K	$356K	5x	as long as short
Aevo PENDLE-PERP	+0.0096%	1h	$27K	—	3x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	$36K	$29K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	$12.2M	$5.3M	5x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	$3.3M	$5.1M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	$928K	$559K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	$3.8M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	—	$34.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	$25K	$418K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	$78K	$238K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	$16K	$30K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	$2K	$1.6M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0272%	1h	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	$116K	$429K	25x	as long as short
Backpack PENDLE_USDC_PERPshort	+0.0677%	1h	$376K	$456K	15x
Kraken Futures PF_PENDLEUSD	+0.2135%	1h	$155K	$268K	20x	as long as short