PENDLE

Alert

Funding spread now, next payment 18:00 UTC−0.2019%/8h

next payment, per $10,000−$2.52paid, last 24h−0.416%paid, last 7 days−0.188%to open and close $10k−$141

Long on Kraken Futures Short on Hyperliquid

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.188% in total (about -9.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.52 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	2.5616	0.2119	pay 0.0265% / 1h	35m 37s	$156K	$269K	20x
Short	Hyperliquid PENDLE	2.5624	0.0100	get 0.0013% / 1h	35m 37s	$12.3M	$5.3M	5x

Funding history

latest

Range statsloading…

Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee HyperliquidbpOrdersRate

Funding earned: −$424.06
Slippage, 4 orders: −$122.22
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$565.28
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; Hyperliquid: live order book, 8 min ago.

Price risk

price view

Price gap now: +0.032%
Avg gap 7d: −0.044%

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, 3 min ago	5.88 bp	74.7 bp −$75	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 8 min ago	2.54 bp	10.4 bp −$10	doesn't fit	doesn't fit	doesn't fit

PENDLE on 29 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Injective PENDLE/USDC PERP	−0.4277%	1h	$2K	$7K	5.5x	as long as short
Variational Omni PENDLE	−0.0235%	8h	$663K	$2.2M	—	as long as short
Aster PENDLEUSDT	−0.0028%	8h	$51K	$133K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	$11K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	$30K	$11K	10x	as long as short
Reya PENDLERUSDPERP	+0.0016%	1h	$4K	—	15x	as long as short
BloFin PENDLE-USDT	+0.0044%	8h	$1.4M	$848K	75x	as long as short
Orderly PERP_PENDLE_USDC	+0.0049%	8h	$20K	$4K	10x	as long as short
Extended PENDLE-USD	+0.0056%	1h	$168K	$518K	10x	as long as short
MEXC PENDLE_USDT	+0.0057%	8h	$17.0M	$2.2M	125x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Binance PENDLEUSDT	+0.0059%	8h	$28.0M	$35.0M	75x	as long as short
Gate PENDLE_USDT	+0.0092%	8h	$821K	$1.1M	75x	as long as short
Lighter PENDLE	+0.0096%	1h	$560K	$356K	5x	as long as short
Aevo PENDLE-PERP	+0.0096%	1h	$27K	—	3x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	$36K	$29K	10x	as long as short
Hyperliquid PENDLEshort	+0.0100%	1h	$12.3M	$5.3M	5x
Bybit PENDLEUSDT	+0.0100%	8h	$15.9M	$11.8M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	$3.3M	$5.2M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	$940K	$561K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	$3.8M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	—	$34.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	$25K	$416K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	$78K	$238K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	$16K	$30K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	$2K	$1.6M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0272%	1h	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	$115K	$433K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0712%	1h	$374K	$458K	15x	as long as short
Kraken Futures PF_PENDLEUSDlong	+0.2119%	1h	$156K	$269K	20x