PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0011%/8h= −1.2% APRnext payment −$0.11 per $10,000 · paid last 24h −0.001%

Price spread now: BloFin against MEXC−0.118%109s7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$380.381% of the position

Long on MEXC Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.267%+$27 · spread now −0.118%, 7d avg −0.008%

Together, before fees+0.266%+$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and BloFin is 0.110% cheaper against MEXC than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.008%). Swap the legs. The two prices were read 109 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PENDLE_USDT	2.4639	−0.0061	get 0.0061% / 8h	4h 15m	$17.3M	$2.0M	125x
Short	BloFin PENDLE-USDT	2.4610	−0.0072	pay 0.0072% / 8h	4h 15m	$1.2M	$604K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against MEXC. 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 MEXCbpFee BloFinbpOrdersPrice spread, now −0.118%Rate

Funding earned: −$2.38
Price spread: −0.118% → −0.008%: −$10.99
Slippage, 4 orders: −$22.13
Fee MEXC: 2 bp × 2 orders: −$4
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$51.5
Costs to cover: 0.381%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; BloFin: live order book, 2 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 MEXC live order book, 3 min ago	1.42 bp	5.7 bp −$6	27.0 bp −$270	81.0 bp −$8,105	doesn't fit
Sell BloFin live order book, 2 min ago	0.20 bp	17.4 bp −$17	29.2 bp −$292	doesn't fit	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	−0.4334%	1h	2.4340	−1.214%	$2K	$54K	5.5x	as long as short
BloFin PENDLE-USDTshort	−0.0072%	8h	2.4610	−0.118%	$1.2M	$604K	75x
Gate PENDLE_USDT	−0.0066%	8h	2.4620	−0.077%	$718K	$1.1M	75x	as long as short
Extended PENDLE-USD	−0.0064%	1h	2.4604	−0.144%	$159K	$574K	10x	as long as short
Binance PENDLEUSDT	−0.0061%	8h	2.4632	−0.030%	$26.1M	$43.5M	75x	as long as short
MEXC PENDLE_USDTlong	−0.0061%	8h	2.4639	long leg	$17.3M	$2.0M	125x
Aster PENDLEUSDT	−0.0051%	8h	2.4635	−0.017%	$47K	$179K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0037%	8h	2.4629	−0.041%	$19K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4620	−0.076%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4631	−0.032%	$25K	$14K	10x	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	+0.0054%	8h	2.4606	−0.135%	$553K	$1.4M	—	as long as short
GRVT PENDLE_USDT_Perp	+0.0064%	8h	2.4622	−0.071%	$410K	$1.9M	10x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4623	−0.063%	$26K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0065%	1h	2.4639	−0.001%	$3K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4616	−0.093%	$516K	$424K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4599	−0.161%	$34K	$13K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4630	−0.037%	$14.6M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4650	+0.045%	$3.1M	$6.1M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4632	−0.028%	$866K	$559K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4615	−0.097%	$3.7M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4632	−0.028%	—	$8.5M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4604	−0.142%	$24K	$378K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4603	−0.146%	$75K	$235K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4668	+0.118%	$16K	$8K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4646	+0.028%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4639	−0.001%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0328%	1h	2.4693	+0.219%	$12.7M	$6.0M	5x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0608%	1h	2.4820	+0.735%	$148K	$497K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0708%	1h	2.4669	+0.122%	$357K	$465K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1179%	1h	2.4673	+0.137%	$115K	$269K	20x	as long as short