PENDLE

Alert

Funding spread now, next payment 16:00 UTC−0.1837%/8h

next payment, per $10,000−$2.30paid, last 24h−0.466%paid, last 5 days−0.388%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 5 days it paid -0.388% in total (about -28.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.30 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	Kraken Futures PF_PENDLEUSD	2.6675	0.1837	pay 0.0230% / 1h	50m 56s	$172K	$214K	20x
Short	dYdX PENDLE-USD	2.6566	0	get 0.0000% / 1h	50m 56s	$11K	—	5x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee dYdXbpOrdersRate

Funding earned: −$385.78
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$405.78
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 63 min ago; dYdX: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: −0.408%
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 Kraken Futures live order book, 63 min ago	13.23 bp	86.2 bp −$86	doesn't fit	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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 PERP	−0.1178%	1h	$3K	$6K	5.5x	as long as short
Variational Omni PENDLE	−0.0230%	8h	$884K	$2.1M	—	as long as short
Bybit PENDLEUSDT	−0.0183%	8h	$16.6M	$11.3M	50x	as long as short
Gate PENDLE_USDT	−0.0014%	8h	$832K	$1.0M	75x	as long as short
dYdX PENDLE-USDshort	0.0000%	1h	$11K	—	5x
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	$31K	$10K	10x	as long as short
Reya PENDLERUSDPERP	+0.0005%	1h	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.0052%	8h	$22K	$4K	10x	as long as short
Aster PENDLEUSDT	+0.0060%	8h	$52K	$122K	10x	as long as short
BloFin PENDLE-USDT	+0.0072%	8h	$1.5M	$857K	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Lighter PENDLE	+0.0096%	1h	$580K	$356K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	$37K	$30K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	$12.6M	$5.1M	5x	as long as short
Binance PENDLEUSDT	+0.0100%	8h	$29.7M	$31.8M	75x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	$3.3M	$4.8M	50x	as long as short
MEXC PENDLE_USDT	+0.0100%	8h	$17.2M	$2.0M	125x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	$1.1M	$466K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	$4.0M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	—	$34.1M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	$26K	$416K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	$80K	$235K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	$18K	$62K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	$2K	$1.4M	20x	as long as short
Extended PENDLE-USD	+0.0104%	1h	$176K	$520K	10x	as long as short
Aevo PENDLE-PERP	+0.0104%	1h	$28K	—	3x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0269%	1h	$6K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0463%	1h	$378K	$446K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0496%	1h	$100K	$386K	25x	as long as short
Kraken Futures PF_PENDLEUSDlong	+0.1837%	1h	$172K	$214K	20x