PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.3752%/8h= +410.8% APRnext payment +$4.69 per $10,000 · paid last 24h +0.412%

Price spread now: Lighter against Injective+0.630%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Lighter

What this pair did over the last

the charts below follow

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—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$113 a day on $10k at the current rate, and Lighter is 0.630% dearer against Injective than usual: you sell high and buy low: +$63 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective PENDLE/USDC PERP	2.4770	−0.3656	get 0.0457% / 1h	19m 21s	$2K	$53K	5.5x
Short	Lighter PENDLE	2.4926	0.0096	get 0.0012% / 1h	19m 21s	$524K	$424K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Injective. 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 InjectivebpFee LighterbpOrdersPrice spread, now +0.630%Rate

Funding earned: $787.92
Price spread: +0.630% → 0.000%: $62.98
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Lighter: 0 bp × 2 orders: $0
Net: $850.88
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Lighter: live order book, 56 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 Lighter live order book, 56 min ago	10.75 bp	11.3 bp −$11	112.8 bp −$1,128	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 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 PERPlong	−0.3656%	1h	2.4770	long leg	$2K	$53K	5.5x
Deribit PENDLE_USDC-PERPETUAL	−0.0231%	1h	2.4921	+0.610%	$29K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0050%	1h	2.4960	+0.767%	$76K	$239K	50x	as long as short
BloFin PENDLE-USDT	−0.0008%	8h	2.4954	+0.743%	$1.3M	$737K	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4968	+0.801%	$10K	—	5x	as long as short
MEXC PENDLE_USDT	+0.0005%	8h	2.4917	+0.593%	$16.8M	$2.1M	125x	as long as short
Binance PENDLEUSDT	+0.0006%	8h	2.4913	+0.577%	$26.9M	$40.8M	75x	as long as short
Extended PENDLE-USD	+0.0008%	1h	2.4886	+0.468%	$164K	$526K	10x	as long as short
Orderly PERP_PENDLE_USDC	+0.0019%	8h	2.4913	+0.577%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0041%	1h	2.4915	+0.584%	$4K	—	15x	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	+0.0065%	8h	2.4937	+0.674%	$551K	$2.0M	—	as long as short
GRVT PENDLE_USDT_Perp	+0.0080%	8h	2.4959	+0.763%	$415K	$1.6M	10x	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.4912	+0.571%	$26K	—	3x	as long as short
Lighter PENDLEshort	+0.0096%	1h	2.4926	+0.630%	$524K	$424K	5x
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4913	+0.575%	$35K	$20K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4964	+0.783%	$12.3M	$6.0M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4920	+0.607%	$44K	$176K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4905	+0.545%	$15.3M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4940	+0.686%	$3.2M	$5.9M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4910	+0.565%	$781K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4935	+0.666%	$891K	$614K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4908	+0.557%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4911	+0.569%	—	$36.2M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4953	+0.740%	$25K	$397K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4943	+0.698%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4934	+0.662%	$1K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.4931	+0.651%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5020	+1.009%	$139K	$462K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0688%	1h	2.4985	+0.868%	$353K	$474K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0754%	1h	2.4994	+0.903%	$120K	$304K	20x	as long as short