PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0116%/8h= −12.7% APRnext payment −$1.16 per $10,000 · paid last 24h −0.003%

Price spread now: Binance against KuCoin−0.068%7-day average +0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$128as in the Funding arb table

Net, price: spread back to 7d avg − costs−$131as in the Price arb table

costs, in and out, $10k−$1211.214% of the position

Long on KuCoin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 on $10k

Price spread, last 7 days+0.132%+$13 · spread now −0.068%, 7d avg +0.031%

Together, before fees+0.063%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Binance is 0.099% cheaper against KuCoin than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.031%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PENDLEUSDTM	2.4852	0.0100	pay 0.0100% / 8h	1h 08m	$885K	$612K	50x
Short	Binance PENDLEUSDT	2.4835	−0.0016	pay 0.0016% / 8h	1h 08m	$26.8M	$41.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against KuCoin. 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 KuCoinbpFee BinancebpOrdersPrice spread, now −0.068%Rate

Funding earned: −$24.28
Price spread: −0.068% → +0.031%: −$9.91
Slippage, 4 orders: −$99.35
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$155.54
Costs to cover: 1.214%
Break-even: never at this rate

Slippage from KuCoin: live order book, 66 min ago; Binance: live order book, 4 min ago.

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 KuCoin live order book, 66 min ago	8.16 bp	53.2 bp −$53	173.5 bp −$1,735	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	0.81 bp	11.4 bp −$11	22.9 bp −$229	93.6 bp −$9,359	doesn't fit

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 PERP	−0.3656%	1h	2.4770	−0.330%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0272%	1h	2.4898	+0.185%	$29K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0066%	1h	2.4890	+0.153%	$76K	$239K	50x	as long as short
BloFin PENDLE-USDT	−0.0035%	8h	2.4871	+0.076%	$1.3M	$742K	75x	as long as short
Extended PENDLE-USD	−0.0016%	1h	2.4833	−0.076%	$164K	$526K	10x	as long as short
Binance PENDLEUSDTshort	−0.0016%	8h	2.4835	−0.068%	$26.8M	$41.2M	75x
MEXC PENDLE_USDT	−0.0015%	8h	2.4827	−0.101%	$16.8M	$2.1M	125x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4873	+0.083%	$10K	—	5x	as long as short
Orderly PERP_PENDLE_USDC	+0.0013%	8h	2.4892	+0.161%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0042%	1h	2.4862	+0.040%	$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	+0.0058%	8h	2.4827	−0.102%	$550K	$2.0M	—	as long as short
GRVT PENDLE_USDT_Perp	+0.0068%	8h	2.4869	+0.067%	$413K	$1.6M	10x	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.4877	+0.100%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4860	+0.032%	$525K	$426K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4842	−0.040%	$35K	$20K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4865	+0.052%	$12.2M	$6.0M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4861	+0.036%	$44K	$176K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4830	−0.089%	$15.3M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4840	−0.048%	$3.2M	$5.9M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4850	−0.008%	$779K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTMlong	+0.0100%	8h	2.4852	long leg	$885K	$612K	50x
Bitget PENDLEUSDT	+0.0100%	8h	2.4868	+0.064%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4855	+0.012%	—	$36.2M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4840	−0.049%	$25K	$396K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4870	+0.072%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4901	+0.197%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.4911	+0.239%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.4900	+0.193%	$138K	$460K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0634%	1h	2.4937	+0.342%	$352K	$475K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0755%	1h	2.4942	+0.362%	$118K	$306K	20x	as long as short