PENDLE

Alert

Funding spread now, next payment 17:00 UTC−0.1714%/8h

paid, last 24h−0.451%paid, last 5 days−0.357%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 -0.357% in total (about -27.7% 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	Kraken Futures PF_PENDLEUSD	2.5612	0.1764	pay 0.0221% / 1h	59m 25s	$156K	$267K	20x
Short	Orderly PERP_PENDLE_USDC	2.5532	0.0050	get 0.0050% / 8h	6h 59m	$20K	$4K	10x

Funding history

latest

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee OrderlybpOrdersRate

Funding earned: −$359.91
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$375.91
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 45 min ago; Orderly: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: −0.311%
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, 45 min ago	15.37 bp	97.6 bp −$98	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	−0.1875%	1h	$2K	$6K	5.5x	as long as short
Variational Omni PENDLE	−0.0259%	8h	$659K	$2.2M	—	as long as short
Bybit PENDLEUSDT	−0.0061%	8h	$16.0M	$11.8M	50x	as long as short
Aster PENDLEUSDT	−0.0021%	8h	$51K	$134K	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	+0.0014%	1h	$4K	—	15x	as long as short
Gate PENDLE_USDT	+0.0029%	8h	$815K	$1.1M	75x	as long as short
BloFin PENDLE-USDT	+0.0048%	8h	$1.4M	$849K	75x	as long as short
Orderly PERP_PENDLE_USDCshort	+0.0050%	8h	$20K	$4K	10x

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Extended PENDLE-USD	+0.0072%	1h	$168K	$520K	10x	as long as short
MEXC PENDLE_USDT	+0.0072%	8h	$16.8M	$2.1M	125x	as long as short
Binance PENDLEUSDT	+0.0072%	8h	$28.0M	$34.4M	75x	as long as short
ApeX Omni PENDLEUSDT	+0.0089%	1h	$78K	$238K	50x	as long as short
Lighter PENDLE	+0.0096%	1h	$558K	$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	$30K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	$12.2M	$5.3M	5x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	$3.3M	$5.1M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	$928K	$558K	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	—	$34.2M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	$25K	$418K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	$16K	$30K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	$1K	$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
Backpack PENDLE_USDC_PERP	+0.0252%	1h	$372K	$452K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0432%	1h	$114K	$420K	25x	as long as short
Kraken Futures PF_PENDLEUSDlong	+0.1764%	1h	$156K	$267K	20x