PENDLE

Alert

Funding spread now, next payment 17:00 UTC+0.1743%/8h

next payment, per $10,000+$2.18paid, last 24h+0.487%paid, last 5 days+0.512%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 5 days it paid 0.512% in total (about 40.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.18 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	Deribit PENDLE_USDC-PERPETUAL	2.5840	0	get 0.0000% / 1h	52m 30s	$30K	$10K	10x
Short	Kraken Futures PF_PENDLEUSD	2.5922	0.1743	get 0.0218% / 1h	52m 30s	$165K	$229K	20x

Funding history

latest

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee Kraken FuturesbpOrdersRate

Funding earned: $366.08
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $349.08
Break-even: 0.3 days

Slippage unknown: Deribit: no order-book sample; Kraken Futures: live order book, 56 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.317%
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 Kraken Futures live order book, 56 min ago	9.40 bp	45.9 bp −$46	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 29 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Injective PENDLE/USDC PERP	−0.1875%	1h	$2K	$6K	5.5x	as long as short
Gate PENDLE_USDT	−0.0795%	8h	$816K	$1.1M	75x	as long as short
Variational Omni PENDLE	−0.0277%	8h	$813K	$2.2M	—	as long as short
Bybit PENDLEUSDT	−0.0246%	8h	$16.0M	$11.9M	50x	as long as short
Polymarket Perps PENDLE-USD	−0.0021%	1h	$16K	$52K	5x	as long as short
dYdX PENDLE-USD	0.0000%	1h	$11K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUALlong	0.0000%	1h	$30K	$10K	10x
Aster PENDLEUSDT	+0.0008%	8h	$51K	$128K	10x	as long as short
Reya PENDLERUSDPERP	+0.0009%	1h	$4K	—	15x	as long as short
ApeX Omni PENDLEUSDT	+0.0033%	1h	$78K	$236K	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Orderly PERP_PENDLE_USDC	+0.0055%	8h	$20K	$5K	10x	as long as short
Lighter PENDLE	+0.0096%	1h	$560K	$349K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	$36K	$30K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	$12.2M	$5.2M	5x	as long as short
Binance PENDLEUSDT	+0.0100%	8h	$28.7M	$33.6M	75x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	$3.2M	$4.9M	50x	as long as short
MEXC PENDLE_USDT	+0.0100%	8h	$16.6M	$2.1M	125x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	$956K	$520K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	$3.9M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	—	$34.2M	—	as long as short
Backpack PENDLE_USDC_PERP	+0.0100%	1h	$369K	$451K	15x	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	$26K	$415K	10x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	$1K	$1.5M	20x	as long as short
Extended PENDLE-USD	+0.0104%	1h	$169K	$520K	10x	as long as short
Aevo PENDLE-PERP	+0.0104%	1h	$27K	—	3x	as long as short
BloFin PENDLE-USDT	+0.0107%	8h	$1.5M	$856K	75x	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	+0.0432%	1h	$119K	$425K	25x	as long as short
Kraken Futures PF_PENDLEUSDshort	+0.1743%	1h	$165K	$229K	20x