PENDLE

Alert

Funding spread now, next payment 15:00 UTC−0.0242%/8h

next payment, per $10,000−$0.30paid, last 24h−0.026%paid, last 5 days−0.093%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 -0.093% in total (about -7.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.30 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	dYdX PENDLE-USD	2.6388	0	get 0.0000% / 1h	48m 59s	$11K	—	5x
Short	Deribit PENDLE_USDC-PERPETUAL	2.6384	−0.0242	pay 0.0030% / 1h	48m 59s	$31K	$10K	10x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee dYdXbpFee DeribitbpOrdersRate

Funding earned: −$50.92
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$67.92
Break-even: never at this rate

Slippage unknown: dYdX: no order-book sample; Deribit: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: −0.016%
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 dYdX no order-book sample	—	—	—	—	—
Sell Deribit no order-book sample	—	—	—	—	—

dYdX and 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	−0.3627%	1h	$4K	$51K	5.5x	as long as short
ApeX Omni PENDLEUSDT	−0.0282%	1h	$80K	$234K	50x	as long as short
Deribit PENDLE_USDC-PERPETUALshort	−0.0242%	1h	$31K	$10K	10x
Variational Omni PENDLE	−0.0206%	8h	$870K	$2.1M	—	as long as short
Bybit PENDLEUSDT	−0.0183%	8h	$16.5M	$11.1M	50x	as long as short
Gate PENDLE_USDT	−0.0021%	8h	$830K	$1.0M	75x	as long as short
dYdX PENDLE-USDlong	0.0000%	1h	$11K	—	5x
Reya PENDLERUSDPERP	0.0000%	1h	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.0046%	8h	$21K	$4K	10x	as long as short
Aster PENDLEUSDT	+0.0086%	8h	$50K	$115K	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Lighter PENDLE	+0.0096%	1h	$583K	$327K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	$37K	$31K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	$12.6M	$4.9M	5x	as long as short
Binance PENDLEUSDT	+0.0100%	8h	$29.7M	$31.0M	75x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	$3.3M	$4.7M	50x	as long as short
MEXC PENDLE_USDT	+0.0100%	8h	$16.9M	$2.0M	125x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	$1.1M	$459K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	$4.0M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	—	$34.1M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	$26K	$415K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	$19K	$71K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	$1K	$1.4M	20x	as long as short
Extended PENDLE-USD	+0.0104%	1h	$174K	$520K	10x	as long as short
Aevo PENDLE-PERP	+0.0104%	1h	$28K	—	3x	as long as short
BloFin PENDLE-USDT	+0.0125%	8h	$1.5M	$835K	75x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0269%	1h	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0326%	1h	$374K	$447K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0368%	1h	$68K	$333K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1457%	1h	$170K	$216K	20x	as long as short