PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0160%/8h= +17.5% APRnext payment +$1.60 per $10,000 · paid last 24h −0.020%

Price spread now: Bybit against MEXC0.000%7-day average −0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$470.472% of the position

Long on MEXC Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.104%−$10 on $10k

Price spread, last 7 days+0.010%+$1 · spread now 0.000%, 7d avg −0.050%

Together, before fees−0.094%−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Bybit is 0.050% dearer against MEXC than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.050%. Mind the row above: over the last 7 days funding on this pair cost −0.104%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PENDLE_USDT	2.5070	−0.0135	get 0.0135% / 8h	6h 03m	$17.3M	$1.8M	125x
Short	Bybit PENDLEUSDT	2.5070	0.0025	get 0.0025% / 8h	6h 03m	$15.2M	$12.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now 0.000%Rate

Funding earned: $33.63
Price spread: 0.000% → −0.050%: $5.02
Slippage, 4 orders: −$32.25
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$8.59
Costs to cover: 0.472%
Break-even: 8.8 days

Slippage from MEXC: live order book, just now; Bybit: live order book, just now.

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, just now	0.80 bp	7.4 bp −$7	34.8 bp −$348	99.2 bp −$9,917	doesn't fit
Sell Bybit live order book, just now	3.99 bp	19.7 bp −$20	65.3 bp −$653	275.4 bp −$27.5K	doesn't fit

PENDLE on 29 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	−0.4742%	1h	2.4870	−0.798%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0427%	1h	2.5079	+0.036%	$26K	$14K	10x	as long as short
Extended PENDLE-USD	−0.0136%	1h	2.5056	−0.055%	$163K	$570K	10x	as long as short
MEXC PENDLE_USDTlong	−0.0135%	8h	2.5070	long leg	$17.3M	$1.8M	125x
Binance PENDLEUSDT	−0.0134%	8h	2.5058	−0.046%	$26.9M	$43.4M	75x	as long as short
ApeX Omni PENDLEUSDT	−0.0117%	1h	2.5103	+0.132%	$77K	$236K	50x	as long as short
GRVT PENDLE_USDT_Perp	−0.0115%	8h	2.5046	−0.096%	$421K	$1.7M	10x	as long as short
Gate PENDLE_USDT	−0.0048%	8h	2.5060	−0.040%	$757K	$1.2M	75x	as long as short
Aster PENDLEUSDT	−0.0046%	8h	2.5083	+0.050%	$50K	$181K	10x	as long as short
Variational Omni PENDLE	−0.0040%	8h	2.5086	+0.062%	$613K	$1.8M	—	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PENDLE_USDC	−0.0038%	8h	2.5064	−0.024%	$20K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5095	+0.102%	$11K	—	5x	as long as short
Bybit PENDLEUSDTshort	+0.0025%	8h	2.5070	0.000%	$15.2M	$12.0M	50x
Aevo PENDLE-PERP	+0.0048%	1h	2.5076	+0.022%	$26K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0057%	1h	2.5067	−0.013%	$4K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5076	+0.024%	$534K	$416K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5064	−0.025%	$35K	$16K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5105	+0.140%	$12.9M	$6.3M	5x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5060	−0.040%	$3.2M	$6.1M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5085	+0.060%	$862K	$593K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5051	−0.076%	$3.8M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5056	−0.056%	—	$33.6M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5090	+0.079%	$25K	$379K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5084	+0.056%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5086	+0.064%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0182% / S −0.0298%	1h	2.5083	+0.051%	$7K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0412%	1h	2.5112	+0.168%	$352K	$434K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0632%	1h	2.5100	+0.120%	$144K	$471K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0867%	1h	2.5134	+0.256%	$117K	$289K	20x	as long as short