PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0116%/8h= +12.6% APRnext payment +$0.14 per $10,000 · paid last 24h +0.017%

Price spread now: Reya against Deribit+0.049%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 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 for this trade now. Funding pays +$3 a day on $10k at the current rate, and Reya is 0.049% dearer against Deribit than usual: you sell high and buy low: +$5 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	2.5341	−0.0066	get 0.0008% / 1h	28m 09s	$26K	$14K	10x
Short	Reya PENDLERUSDPERP	2.5353	0.0050	get 0.0006% / 1h	28m 09s	$4K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.049%Rate

Funding earned: $24.26
Price spread: +0.049% → 0.000%: $4.89
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Reya: 3 bp × 2 orders: −$6
Net: $16.15
Costs to cover: 0.130%
Break-even: 2.3 days

Slippage unknown: Deribit: no order-book sample; 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 Deribit no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

Deribit and 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	−0.4643%	1h	2.4970	−1.464%	$2K	$54K	5.5x	as long as short
GRVT PENDLE_USDT_Perp	−0.0128%	8h	2.5308	−0.131%	$419K	$1.6M	10x	as long as short
MEXC PENDLE_USDT	−0.0085%	8h	2.5330	−0.043%	$17.1M	$1.9M	125x	as long as short
Binance PENDLEUSDT	−0.0084%	8h	2.5324	−0.067%	$27.4M	$42.7M	75x	as long as short
Extended PENDLE-USD	−0.0080%	1h	2.5325	−0.064%	$165K	$570K	10x	as long as short
Deribit PENDLE_USDC-PERPETUALlong	−0.0066%	1h	2.5341	long leg	$26K	$14K	10x
BloFin PENDLE-USDT	−0.0061%	8h	2.5349	+0.032%	$1.3M	$707K	75x	as long as short
ApeX Omni PENDLEUSDT	−0.0041%	1h	2.5293	−0.189%	$77K	$237K	50x	as long as short
Orderly PERP_PENDLE_USDC	−0.0019%	8h	2.5340	−0.004%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5368	+0.105%	$11K	—	5x	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	+0.0009%	8h	2.5276	−0.256%	$610K	$1.9M	—	as long as short
Reya PENDLERUSDPERPshort	+0.0050%	1h	2.5353	+0.049%	$4K	—	15x
Bybit PENDLEUSDT	+0.0050%	8h	2.5295	−0.182%	$15.6M	$12.0M	50x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.5340	−0.003%	$26K	—	3x	as long as short
Aster PENDLEUSDT	+0.0069%	8h	2.5346	+0.018%	$47K	$178K	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5332	−0.036%	$537K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5358	+0.069%	$35K	$18K	10x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5300	−0.162%	$3.3M	$6.1M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5330	−0.043%	$788K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5337	−0.016%	$890K	$592K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5339	−0.008%	$3.8M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5320	−0.083%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5299	−0.164%	$25K	$383K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5365	+0.095%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5341	0.000%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0203% / S −0.0382%	1h	2.5343	+0.009%	$7K	—	100x	as long as short
Hyperliquid PENDLE	+0.0364%	1h	2.5361	+0.079%	$13.0M	$6.4M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0613%	1h	2.5391	+0.196%	$118K	$293K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0728%	1h	2.5410	+0.272%	$141K	$445K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0887%	1h	2.5365	+0.095%	$334K	$485K	15x	as long as short