PENDLE

Alert

Funding spread now, next payment 14:00 UTC+0.1170%/8h

next payment, per $10,000+$1.46paid, last 24h+0.040%paid, last 4 days+0.112%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 0.112% in total (about 11.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.46 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	2.6710	−0.0760	get 0.0095% / 1h	40m 45s	$4K	$51K	5.5x
Short	Hyperliquid PENDLE	2.6910	0.0410	get 0.0051% / 1h	40m 45s	$12.7M	$4.5M	5x

Funding history

latest

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee HyperliquidbpOrdersRate

Funding earned: $245.74
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $236.72
Break-even: 0.3 days

Slippage unknown: Injective: no order-book sample; Hyperliquid: live order book, 3 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.749%
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 Hyperliquid live order book, 3 min ago	1.29 bp	12.7 bp −$13	doesn't fit	doesn't fit	doesn't fit

Injective: 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	−0.0760%	1h	$4K	$51K	5.5x
Variational Omni PENDLE	−0.0092%	8h	$908K	$2.1M	—	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0047%	1h	$29K	$8K	10x	as long as short
Bybit PENDLEUSDT	−0.0039%	8h	$16.8M	$10.1M	50x	as long as short
Reya PENDLERUSDPERP	−0.0004%	1h	$4K	—	15x	as long as short
dYdX PENDLE-USD	0.0000%	1h	$11K	—	5x	as long as short
ApeX Omni PENDLEUSDT	+0.0037%	1h	$82K	$237K	50x	as long as short
Gate PENDLE_USDT	+0.0038%	8h	$839K	$977K	75x	as long as short
Orderly PERP_PENDLE_USDC	+0.0043%	8h	$22K	$4K	10x	as long as short
BloFin PENDLE-USDT	+0.0076%	8h	$1.6M	$827K	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Aster PENDLEUSDT	+0.0095%	8h	$51K	$116K	10x	as long as short
Lighter PENDLE	+0.0096%	1h	$567K	$254K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	$38K	$32K	10x	as long as short
Binance PENDLEUSDT	+0.0100%	8h	$29.9M	$29.1M	75x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	$3.3M	$4.5M	50x	as long as short
MEXC PENDLE_USDT	+0.0100%	8h	$17.4M	$1.8M	125x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	$1.1M	$451K	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	—	$34.0M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	$27K	$411K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	$19K	$87K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	$2K	$1.3M	20x	as long as short
Extended PENDLE-USD	+0.0104%	1h	$180K	$516K	10x	as long as short
Aevo PENDLE-PERP	+0.0104%	1h	$28K	—	3x	as long as short
Backpack PENDLE_USDC_PERP	+0.0148%	1h	$348K	$423K	15x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0269%	1h	$6K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0200%	1h	$63K	$300K	25x	as long as short
Hyperliquid PENDLEshort	+0.0410%	1h	$12.7M	$4.5M	5x
Kraken Futures PF_PENDLEUSD	+0.0937%	1h	$148K	$178K	20x	as long as short