PENDLE

Alert

Funding spread now, next payment 19:00 UTC+0.4421%/8h

next payment, per $10,000+$5.53paid, last 24h+0.133%paid, last 4 days−0.056%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 4 days it paid -0.056% in total (about -5.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$5.53 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	Injective PENDLE/USDC PERP	2.5280	−0.4421	get 0.0553% / 1h	41m 08s	$2K	$7K	5.5x
Short	Deribit PENDLE_USDC-PERPETUAL	2.5588	0	get 0.0000% / 1h	41m 08s	$30K	$11K	10x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee DeribitbpOrdersRate

Funding earned: $928.31
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $921.29
Break-even: 0.1 days

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

Price risk

price view

Price gap now: +1.218%
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 Injective no order-book sample	—	—	—	—	—
Sell Deribit no order-book sample	—	—	—	—	—

Injective 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 PERPlong	−0.4421%	1h	$2K	$7K	5.5x
Variational Omni PENDLE	−0.0129%	8h	$660K	$2.2M	—	as long as short
Aster PENDLEUSDT	−0.0004%	8h	$52K	$139K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	$11K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUALshort	0.0000%	1h	$30K	$11K	10x
Reya PENDLERUSDPERP	+0.0020%	1h	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.0044%	8h	$20K	$4K	10x	as long as short
Extended PENDLE-USD	+0.0072%	1h	$169K	$519K	10x	as long as short
MEXC PENDLE_USDT	+0.0073%	8h	$17.1M	$2.1M	125x	as long as short
Binance PENDLEUSDT	+0.0073%	8h	$28.1M	$36.0M	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
BloFin PENDLE-USDT	+0.0075%	8h	$1.4M	$823K	75x	as long as short
Lighter PENDLE	+0.0096%	1h	$559K	$358K	5x	as long as short
Aevo PENDLE-PERP	+0.0096%	1h	$27K	—	3x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	$36K	$28K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	$12.3M	$5.4M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	$16.0M	$12.0M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	$3.4M	$5.4M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	$822K	$1.0M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	$942K	$603K	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	—	$34.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	$25K	$414K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	$78K	$237K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	$16K	$30K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	$2K	$1.6M	20x	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	+0.0624%	1h	$117K	$466K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0690%	1h	$377K	$461K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1426%	1h	$159K	$257K	20x	as long as short