PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0072%/8h= +7.8% APRnext payment +$0.09 per $10,000 · paid last 24h +0.049%

Price spread now: GMX against Lighter+0.100%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and GMX is 0.100% dearer against Lighter than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PENDLE	2.4147	0.0096	pay 0.0012% / 1h	32m 07s	$520K	$429K	5x
Short	GMX PENDLE/USD [PENDLE-USDC]	2.4171	L +0.0151% / S −0.0168%	get 0.0021% / 1h	32m 07s	$5K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Lighter. 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 LighterbpFee GMXbpOrdersPrice spread, now +0.100%Rate

Funding earned: $15.05
Price spread: +0.100% → 0.000%: $10.02
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $13.07
Costs to cover: 0.120%
Break-even: 0.9 days

Slippage unknown: Lighter: live order book, 58 min ago; GMX: no order-book sample. Net counts fees only.

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 Lighter live order book, 58 min ago	8.47 bp	12.7 bp −$13	58.0 bp −$580	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 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	−0.3627%	1h	2.3970	−0.733%	$2K	$55K	5.5x	as long as short
GRVT PENDLE_USDT_Perp	−0.1059%	8h	2.4241	+0.388%	$400K	$2.6M	10x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0536%	1h	2.4140	−0.029%	$24K	$16K	10x	as long as short
Gate PENDLE_USDT	−0.0330%	8h	2.4150	+0.012%	$766K	$992K	75x	as long as short
BloFin PENDLE-USDT	−0.0104%	8h	2.4179	+0.133%	$1.1M	$503K	75x	as long as short
Binance PENDLEUSDT	−0.0100%	8h	2.4181	+0.141%	$25.3M	$46.0M	75x	as long as short
Extended PENDLE-USD	−0.0096%	1h	2.4137	−0.043%	$155K	$924K	10x	as long as short
MEXC PENDLE_USDT	−0.0090%	8h	2.4140	−0.029%	$17.9M	$2.1M	125x	as long as short
Bybit PENDLEUSDT	−0.0039%	8h	2.4172	+0.104%	$14.0M	$11.9M	50x	as long as short
Orderly PERP_PENDLE_USDC	−0.0015%	8h	2.4141	−0.025%	$18K	$15K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENDLE-USD	0.0000%	1h	2.4191	+0.183%	$10K	—	5x	as long as short
ApeX Omni PENDLEUSDT	+0.0003%	1h	2.4283	+0.563%	$74K	$231K	50x	as long as short
Aster PENDLEUSDT	+0.0014%	8h	2.4154	+0.029%	$47K	$169K	10x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4083	−0.263%	$25K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0088%	1h	2.4151	+0.017%	$3K	—	15x	as long as short
Lighter PENDLElong	+0.0096%	1h	2.4147	long leg	$520K	$429K	5x
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4157	+0.041%	$34K	$3K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4179	+0.133%	$12.6M	$6.0M	5x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4190	+0.178%	$3.1M	$6.7M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4167	+0.083%	$684K	$598K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4183	+0.149%	$3.8M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4142	−0.021%	—	$8.3M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4226	+0.327%	$565K	$1.2M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4235	+0.365%	$24K	$369K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4168	+0.087%	$16K	$4K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4174	+0.112%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]short	L +0.0151% / S −0.0168%	1h	2.4171	+0.100%	$5K	—	100x
Backpack PENDLE_USDC_PERP	+0.0646%	1h	2.4200	+0.219%	$357K	$432K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0664%	1h	2.4230	+0.344%	$162K	$515K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1284%	1h	2.4174	+0.110%	$114K	$258K	20x	as long as short