PENDLE

Alert

Funding spread now, next payment 17:00 UTC+0.0097%/8h

next payment, per $10,000+$0.12paid, last 24h+0.070%paid, last 3 days+0.656%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX PENDLE/USD [PENDLE-USDC]	2.5898	L +0.0200% / S −0.0272%	pay 0.0025% / 1h	30m 41s	$5K	—	100x
Short	Backpack PENDLE_USDC_PERP	2.5939	0.0297	get 0.0037% / 1h	30m 41s	$374K	$450K	15x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee GMXbpFee BackpackbpOrdersRate

Funding earned: $20.46
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$1.54
Break-even: 7.5 days

Slippage unknown: GMX: no order-book sample; Backpack: live order book, 15 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.157%
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 GMX no order-book sample	—	—	—	—	—
Sell Backpack live order book, 15 min ago	2.31 bp	7.8 bp −$8	83.8 bp −$838	doesn't fit	doesn't fit

GMX: 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
Variational Omni PENDLE	−0.0270%	8h	$670K	$2.3M	—	as long as short
Bybit PENDLEUSDT	−0.0060%	8h	$16.1M	$11.9M	50x	as long as short
dYdX PENDLE-USD	0.0000%	1h	$11K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	$31K	$11K	10x	as long as short
Reya PENDLERUSDPERP	+0.0011%	1h	$4K	—	15x	as long as short
Aster PENDLEUSDT	+0.0014%	8h	$51K	$128K	10x	as long as short
Orderly PERP_PENDLE_USDC	+0.0054%	8h	$20K	$4K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0077%	1h	$78K	$236K	50x	as long as short
BloFin PENDLE-USDT	+0.0093%	8h	$1.4M	$859K	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Lighter PENDLE	+0.0096%	1h	$564K	$352K	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	$33.9M	75x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	$3.2M	$5.0M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	$817K	$1.1M	75x	as long as short
MEXC PENDLE_USDT	+0.0100%	8h	$16.9M	$2.1M	125x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	$959K	$529K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	$3.9M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	—	$34.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	$26K	$417K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	$16K	$44K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	$2K	$1.5M	20x	as long as short
Extended PENDLE-USD	+0.0104%	1h	$171K	$520K	10x	as long as short
Aevo PENDLE-PERP	+0.0104%	1h	$27K	—	3x	as long as short
GMX PENDLE/USD [PENDLE-USDC]long	L +0.0200% / S −0.0272%	1h	$5K	—	100x
Backpack PENDLE_USDC_PERPshort	+0.0297%	1h	$374K	$450K	15x
Coinbase International PENDLE-PERP-INTX	+0.0432%	1h	$116K	$430K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1740%	1h	$164K	$232K	20x	as long as short