Funding you earn now, next payment 03:00 UTC+0.5684%/8h= +622.4% APRnext payment +$7.11 per $10,000 · paid last 24h +0.885%
Price spread now: Kraken Futures against Injective+1.562%63s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$171 a day on $10k at the current rate, and Kraken Futures is 1.562% dearer against Injective than usual: you sell high and buy low: +$156 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective PENDLE/USDC PERP | 2.4720 | −0.4938 | get 0.0617% / 1h | 55m 37s | $2K | $54K | 5.5x |
| Short | Kraken Futures PF_PENDLEUSD | 2.5106 | 0.0747 | get 0.0093% / 1h | 55m 37s | $117K | $284K | 20x |
Injective PENDLE/USDC PERP
Kraken Futures PF_PENDLEUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Injective. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $1,193.73
- Price spread: +1.562% → 0.000%
- $156.21
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $1,339.92
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Kraken Futures: live order book, 7 min ago. Net counts fees only.
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 Kraken Futures live order book, 7 min ago | 29.82 bp | 66.6 bp −$67 | 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: 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 PERPlong | −0.4938% | 1h | 2.4720 | long leg | $2K | $54K | 5.5x | |
| ApeX Omni PENDLEUSDT | −0.0728% | 1h | 2.4953 | +0.943% | $76K | $235K | 50x | as long as short |
| Deribit PENDLE_USDC-PERPETUAL | −0.0229% | 1h | 2.5059 | +1.371% | $26K | $14K | 10x | as long as short |
| Binance PENDLEUSDT | −0.0130% | 8h | 2.5011 | +1.178% | $26.9M | $42.4M | 75x | as long as short |
| MEXC PENDLE_USDT | −0.0130% | 8h | 2.5040 | +1.294% | $17.3M | $1.8M | 125x | as long as short |
| Extended PENDLE-USD | −0.0128% | 1h | 2.5008 | +1.164% | $162K | $570K | 10x | as long as short |
| GRVT PENDLE_USDT_Perp | −0.0080% | 8h | 2.4956 | +0.956% | $412K | $1.7M | 10x | as long as short |
| Aster PENDLEUSDT | −0.0049% | 8h | 2.5063 | +1.389% | $50K | $181K | 10x | as long as short |
| Orderly PERP_PENDLE_USDC | −0.0039% | 8h | 2.5036 | +1.278% | $20K | $15K | 10x | as long as short |
| Variational Omni PENDLE | −0.0031% | 8h | 2.5036 | +1.278% | $601K | $1.8M | — | as long as short |
ApeX Omni PENDLEUSDT
Deribit PENDLE_USDC-PERPETUAL
Binance PENDLEUSDT
MEXC PENDLE_USDT
Extended PENDLE-USD
GRVT PENDLE_USDT_Perp
Aster PENDLEUSDT
Orderly PERP_PENDLE_USDC
Variational Omni PENDLEShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate PENDLE_USDT | −0.0005% | 8h | 2.5040 | +1.294% | $757K | $1.1M | 75x | as long as short |
| dYdX PENDLE-USD | 0.0000% | 1h | 2.5044 | +1.312% | $11K | — | 5x | as long as short |
| Aevo PENDLE-PERP | +0.0048% | 1h | 2.5027 | +1.244% | $26K | — | 3x | as long as short |
| Reya PENDLERUSDPERP | +0.0057% | 1h | 2.5047 | +1.323% | $4K | — | 15x | as long as short |
| Bybit PENDLEUSDT | +0.0069% | 8h | 2.5005 | +1.153% | $15.1M | $11.8M | 50x | as long as short |
| Lighter PENDLE | +0.0096% | 1h | 2.5040 | +1.294% | $533K | $412K | 5x | as long as short |
| Paradex PENDLE-USD-PERP | +0.0100% | 8h | 2.5025 | +1.235% | $35K | $15K | 10x | as long as short |
| Hyperliquid PENDLE | +0.0100% | 1h | 2.5095 | +1.517% | $12.9M | $6.3M | 5x | as long as short |
| OKX PENDLE-USDT-SWAP | +0.0100% | 4h | 2.5010 | +1.173% | $3.2M | $6.0M | 50x | as long as short |
| KuCoin PENDLEUSDTM | +0.0100% | 8h | 2.5035 | +1.274% | $860K | $584K | 50x | as long as short |
| Bitget PENDLEUSDT | +0.0100% | 8h | 2.5029 | +1.250% | $3.8M | $2.3M | 75x | as long as short |
| BingX PENDLE-USDT | +0.0100% | 8h | 2.5049 | +1.331% | — | $33.6M | — | as long as short |
| edgeX PENDLEUSDC | +0.0100% | 4h | 2.4957 | +0.958% | $25K | $377K | 10x | as long as short |
| Polymarket Perps PENDLE-USD | +0.0100% | 1h | 2.5061 | +1.379% | $16K | $8K | 5x | as long as short |
| SunX PENDLE-USDT | +0.0100% | 8h | 2.5055 | +1.355% | $2K | $1.7M | 20x | as long as short |
| GMX PENDLE/USD [PENDLE-USDC] | L +0.0185% / S −0.0304% | 1h | 2.5062 | +1.383% | $7K | — | 100x | as long as short |
| Backpack PENDLE_USDC_PERP | +0.0186% | 1h | 2.5075 | +1.436% | $351K | $428K | 15x | as long as short |
| Coinbase International PENDLE-PERP-INTX | +0.0552% | 1h | 2.5060 | +1.375% | $143K | $470K | 25x | as long as short |
| Kraken Futures PF_PENDLEUSDshort | +0.0747% | 1h | 2.5106 | +1.562% | $117K | $284K | 20x |
Gate PENDLE_USDT
dYdX PENDLE-USD
Aevo PENDLE-PERP
Reya PENDLERUSDPERP
Bybit PENDLEUSDT
Lighter PENDLE
Paradex PENDLE-USD-PERP
Hyperliquid PENDLE
OKX PENDLE-USDT-SWAP
KuCoin PENDLEUSDTM
Bitget PENDLEUSDT
BingX PENDLE-USDT
edgeX PENDLEUSDC
Polymarket Perps PENDLE-USD
SunX PENDLE-USDT
GMX PENDLE/USD [PENDLE-USDC]
Backpack PENDLE_USDC_PERP
Coinbase International PENDLE-PERP-INTX