PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC−0.0072%/8h= −7.9% APRnext payment −$0.72 per $10,000 · paid last 24h +0.001%

Price spread now: BloFin against Orderly−0.124%52s7-day average — · you buy dearer than you sell

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

Long on Orderly Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and BloFin is 0.124% cheaper against Orderly than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 52 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	Orderly PERP_PENDLE_USDC	2.4272	−0.0015	get 0.0015% / 8h	7h 33m	$18K	$15K	10x
Short	BloFin PENDLE-USDT	2.4242	−0.0087	pay 0.0087% / 8h	7h 33m	$1.1M	$504K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Orderly. 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 OrderlybpFee BloFinbpOrdersPrice spread, now −0.124%Rate

Funding earned: −$15.18
Price spread: −0.124% → 0.000%: −$12.36
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$45.54
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; BloFin: live order book, 4 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell BloFin live order book, 4 min ago	1.44 bp	10.1 bp −$10	23.1 bp −$231	doesn't fit	doesn't fit

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 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	−1.244%	$2K	$55K	5.5x	as long as short
GRVT PENDLE_USDT_Perp	−0.0939%	8h	2.4236	−0.148%	$408K	$2.6M	10x	as long as short
Gate PENDLE_USDT	−0.0376%	8h	2.4180	−0.379%	$767K	$992K	75x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0326%	1h	2.4283	+0.045%	$25K	$16K	10x	as long as short
Binance PENDLEUSDT	−0.0091%	8h	2.4180	−0.379%	$25.3M	$45.9M	75x	as long as short
MEXC PENDLE_USDT	−0.0090%	8h	2.4187	−0.350%	$17.9M	$2.1M	125x	as long as short
Extended PENDLE-USD	−0.0088%	1h	2.4166	−0.436%	$156K	$924K	10x	as long as short
BloFin PENDLE-USDTshort	−0.0087%	8h	2.4242	−0.124%	$1.1M	$504K	75x
Bybit PENDLEUSDT	−0.0038%	8h	2.4170	−0.420%	$14.0M	$11.9M	50x	as long as short
Orderly PERP_PENDLE_USDClong	−0.0015%	8h	2.4272	long leg	$18K	$15K	10x

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	−0.333%	$10K	—	5x	as long as short
ApeX Omni PENDLEUSDT	+0.0003%	1h	2.4283	+0.045%	$74K	$231K	50x	as long as short
Aster PENDLEUSDT	+0.0021%	8h	2.4227	−0.185%	$47K	$168K	10x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4285	+0.054%	$25K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0088%	1h	2.4236	−0.147%	$3K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4178	−0.387%	$521K	$429K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4167	−0.433%	$34K	$3K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4215	−0.235%	$12.6M	$6.0M	5x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4180	−0.379%	$3.1M	$6.7M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4200	−0.297%	$685K	$598K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4173	−0.408%	$3.7M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4173	−0.408%	—	$8.3M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4226	−0.190%	$565K	$1.2M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4231	−0.168%	$24K	$368K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4250	−0.091%	$16K	$4K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4257	−0.062%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0151% / S −0.0168%	1h	2.4258	−0.057%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0661%	1h	2.4300	+0.115%	$358K	$432K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0664%	1h	2.4340	+0.280%	$163K	$517K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1276%	1h	2.4323	+0.209%	$115K	$253K	20x	as long as short