PENDLE

Alert

Funding spread now, next payment 16:00 UTC+0.0897%/8h

paid, last 24h+0.058%paid, last 3 days−0.039%to open and closeno order book

Long on Injective Short on Variational Omni

The current rate is far above what this pair has been paying: over the last 3 days it paid -0.039% in total (about -4.8% a year). A funding rate is set anew for every payment. 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	2.5790	−0.1178	get 0.0147% / 1h	13m 45s	$2K	$6K	5.5x
Short	Variational Omni PENDLE	2.6033	−0.0281	pay 0.0281% / 8h	13m 45s	$818K	$2.2M	—

Funding history

latest

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee Variational OmnibpOrdersRate

Funding earned: $188.39
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $188.37
Break-even: 0.0 days

Slippage unknown: Injective: no order-book sample; Variational Omni: RFQ quote, 2 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.941%
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 Variational Omni RFQ quote, 2 min ago	4.62 bp	doesn't fit	67.6 bp −$676	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	−0.1178%	1h	$2K	$6K	5.5x
Variational Omni PENDLEshort	−0.0281%	8h	$818K	$2.2M	—
Bybit PENDLEUSDT	−0.0244%	8h	$16.3M	$11.5M	50x	as long as short
Polymarket Perps PENDLE-USD	−0.0019%	1h	$18K	$54K	5x	as long as short
Gate PENDLE_USDT	−0.0002%	8h	$816K	$1.1M	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	$11K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	$31K	$10K	10x	as long as short
Reya PENDLERUSDPERP	+0.0008%	1h	$4K	—	15x	as long as short
Aster PENDLEUSDT	+0.0029%	8h	$51K	$125K	10x	as long as short
Orderly PERP_PENDLE_USDC	+0.0055%	8h	$21K	$4K	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Lighter PENDLE	+0.0096%	1h	$570K	$359K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	$37K	$30K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	$12.4M	$5.1M	5x	as long as short
Binance PENDLEUSDT	+0.0100%	8h	$29.1M	$32.9M	75x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	$3.2M	$4.9M	50x	as long as short
MEXC PENDLE_USDT	+0.0100%	8h	$17.0M	$2.1M	125x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	$1.0M	$489K	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	—	$34.2M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	$26K	$417K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	$79K	$236K	50x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	$2K	$1.5M	20x	as long as short
Extended PENDLE-USD	+0.0104%	1h	$172K	$520K	10x	as long as short
Aevo PENDLE-PERP	+0.0104%	1h	$27K	—	3x	as long as short
BloFin PENDLE-USDT	+0.0127%	8h	$1.5M	$853K	75x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0272%	1h	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0474%	1h	$370K	$448K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0496%	1h	$99K	$397K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1867%	1h	$166K	$219K	20x	as long as short