PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0589%/8h= +64.5% APRnext payment +$0.74 per $10,000 · paid last 24h +0.012%

Price spread now: Coinbase International against Deribit+0.080%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Coinbase International

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 for this trade now. Funding pays +$18 a day on $10k at the current rate, and Coinbase International is 0.080% dearer against Deribit than usual: you sell high and buy low: +$8 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	Deribit PENDLE_USDC-PERPETUAL	2.5070	−0.0029	get 0.0004% / 1h	12m 13s	$30K	$10K	10x
Short	Coinbase International PENDLE-PERP-INTX	2.5090	0.0560	get 0.0070% / 1h	12m 13s	$116K	$418K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Deribit. 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 DeribitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.080%Rate

Funding earned: $123.72
Price spread: +0.080% → 0.000%: $7.98
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $114.7
Costs to cover: 0.170%
Break-even: 0.5 days

Slippage unknown: Deribit: no order-book sample; Coinbase International: live order book, 11 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 Deribit no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 11 min ago	11.85 bp	27.8 bp −$28	doesn't fit	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 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	−0.4806%	1h	2.4840	−0.917%	$2K	$53K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0432%	1h	2.5077	+0.028%	$149K	$277K	20x	as long as short
Deribit PENDLE_USDC-PERPETUALlong	−0.0029%	1h	2.5070	long leg	$30K	$10K	10x
dYdX PENDLE-USD	0.0000%	1h	2.5079	+0.037%	$11K	—	5x	as long as short
Orderly PERP_PENDLE_USDC	+0.0034%	8h	2.5068	−0.008%	$25K	$11K	10x	as long as short
Reya PENDLERUSDPERP	+0.0037%	1h	2.5062	−0.031%	$4K	—	15x	as long as short
MEXC PENDLE_USDT	+0.0043%	8h	2.5056	−0.056%	$16.9M	$2.3M	125x	as long as short
Binance PENDLEUSDT	+0.0045%	8h	2.5056	−0.058%	$27.2M	$39.5M	75x	as long as short
BloFin PENDLE-USDT	+0.0046%	8h	2.5067	−0.012%	$1.3M	$738K	75x	as long as short
Extended PENDLE-USD	+0.0048%	1h	2.5051	−0.075%	$165K	$524K	10x	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	+0.0055%	8h	2.5174	+0.414%	$619K	$2.1M	—	as long as short
ApeX Omni PENDLEUSDT	+0.0077%	1h	2.5130	+0.239%	$77K	$239K	50x	as long as short
Aevo PENDLE-PERP	+0.0088%	1h	2.5064	−0.023%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5065	−0.020%	$543K	$397K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5060	−0.042%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5084	+0.056%	$12.3M	$5.7M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5067	−0.012%	$41K	$172K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5042	−0.112%	$15.5M	$12.0M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5070	0.000%	$3.2M	$5.7M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5080	+0.040%	$851K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5062	−0.032%	$891K	$606K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5062	−0.032%	$3.7M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5061	−0.036%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5135	+0.259%	$25K	$413K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5173	+0.413%	$425K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5080	+0.040%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5074	+0.016%	$1K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5068	−0.007%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTXshort	+0.0560%	1h	2.5090	+0.080%	$116K	$418K	25x
Backpack PENDLE_USDC_PERP	+0.0840%	1h	2.5121	+0.203%	$362K	$460K	15x	as long as short