PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0123%/8h= +13.5% APRnext payment +$1.23 per $10,000 · paid last 24h −0.028%

Price spread now: Bybit against Gate+0.081%7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$760.756% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.145%−$14 on $10k

Price spread, last 7 days−0.046%−$5 · spread now +0.081%, 7d avg 0.000%

Together, before fees−0.190%−$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Bybit is 0.081% dearer against Gate than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of 0.000%. Mind the row above: over the last 7 days funding on this pair cost −0.145%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PENDLE_USDT	2.4620	−0.0023	get 0.0023% / 8h	4h 48m	$715K	$1.1M	75x
Short	Bybit PENDLEUSDT	2.4640	0.0100	get 0.0100% / 8h	4h 48m	$14.6M	$12.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Gate. 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 GatebpFee BybitbpOrdersPrice spread, now +0.081%Rate

Funding earned: $25.83
Price spread: +0.081% → 0.000%: $8.13
Slippage, 4 orders: −$49.64
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$41.67
Costs to cover: 0.756%
Break-even: 18.3 days

Slippage from Gate: live order book, 3 min ago; Bybit: live order book, 5 min ago.

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 Gate live order book, 3 min ago	4.06 bp	24.4 bp −$24	159.5 bp −$1,595	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	4.05 bp	19.4 bp −$19	59.2 bp −$592	doesn't fit	doesn't fit

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	−0.4334%	1h	2.4400	−0.894%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0115%	1h	2.4642	+0.089%	$25K	$14K	10x	as long as short
BloFin PENDLE-USDT	−0.0075%	8h	2.4640	+0.081%	$1.3M	$626K	75x	as long as short
Extended PENDLE-USD	−0.0072%	1h	2.4631	+0.045%	$161K	$570K	10x	as long as short
MEXC PENDLE_USDT	−0.0071%	8h	2.4644	+0.097%	$17.3M	$1.9M	125x	as long as short
Binance PENDLEUSDT	−0.0071%	8h	2.4642	+0.090%	$26.2M	$43.9M	75x	as long as short
Aster PENDLEUSDT	−0.0047%	8h	2.4660	+0.161%	$47K	$178K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0035%	8h	2.4636	+0.065%	$19K	$15K	10x	as long as short
Gate PENDLE_USDTlong	−0.0023%	8h	2.4620	long leg	$715K	$1.1M	75x
dYdX PENDLE-USD	0.0000%	1h	2.4646	+0.104%	$10K	—	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	+0.0034%	8h	2.4626	+0.023%	$563K	$1.7M	—	as long as short
Reya PENDLERUSDPERP	+0.0063%	1h	2.4640	+0.083%	$3K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4631	+0.044%	$26K	—	3x	as long as short
GRVT PENDLE_USDT_Perp	+0.0081%	8h	2.4685	+0.264%	$412K	$1.8M	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4649	+0.118%	$526K	$414K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4635	+0.060%	$34K	$13K	10x	as long as short
Bybit PENDLEUSDTshort	+0.0100%	8h	2.4640	+0.081%	$14.6M	$12.3M	50x
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4650	+0.122%	$3.1M	$6.1M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4656	+0.146%	$872K	$580K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4635	+0.061%	$3.7M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4637	+0.069%	—	$8.6M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4687	+0.270%	$24K	$377K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4656	+0.146%	$75K	$235K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4660	+0.162%	$16K	$8K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4645	+0.102%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4648	+0.112%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0420%	1h	2.4693	+0.297%	$355K	$477K	15x	as long as short
Hyperliquid PENDLE	+0.0428%	1h	2.4693	+0.297%	$12.6M	$6.1M	5x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0608%	1h	2.4660	+0.162%	$146K	$491K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1178%	1h	2.4689	+0.279%	$115K	$278K	20x	as long as short