PENDLE

Alert

Funding spread now, next payment 00:00 UTC−0.0196%/8h

next payment, per $10,000−$1.96paid, last 24h−0.016%paid, last 5 days−0.040%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 5 days it paid -0.040% in total (about -3.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.96 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_PENDLE_USDC	2.5808	0.0054	pay 0.0054% / 8h	7h 25m	$20K	$4K	10x
Short	Bybit PENDLEUSDT	2.5782	−0.0142	pay 0.0142% / 8h	7h 25m	$16.1M	$11.9M	50x

Funding history

latest

Range statsloading…

Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee OrderlybpFee BybitbpOrdersRate

Funding earned: −$41.25
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$58.25
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Bybit: live order book, 4 min ago. Net counts fees only.

Price risk

price view

Price gap now: −0.101%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Bybit live order book, 4 min ago	3.87 bp	20.2 bp −$20	67.8 bp −$678	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 29 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Injective PENDLE/USDC PERP	−0.1875%	1h	$2K	$6K	5.5x	as long as short
Variational Omni PENDLE	−0.0271%	8h	$671K	$2.3M	—	as long as short
Bybit PENDLEUSDTshort	−0.0142%	8h	$16.1M	$11.9M	50x
dYdX PENDLE-USD	0.0000%	1h	$11K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	$30K	$11K	10x	as long as short
Aster PENDLEUSDT	+0.0009%	8h	$51K	$128K	10x	as long as short
Reya PENDLERUSDPERP	+0.0012%	1h	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDClong	+0.0054%	8h	$20K	$4K	10x
ApeX Omni PENDLEUSDT	+0.0073%	1h	$78K	$237K	50x	as long as short
BloFin PENDLE-USDT	+0.0089%	8h	$1.4M	$856K	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Lighter PENDLE	+0.0096%	1h	$563K	$352K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	$36K	$30K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	$12.2M	$5.2M	5x	as long as short
Binance PENDLEUSDT	+0.0100%	8h	$28.7M	$33.9M	75x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	$3.2M	$5.0M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	$820K	$1.1M	75x	as long as short
MEXC PENDLE_USDT	+0.0100%	8h	$16.8M	$2.1M	125x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	$955K	$531K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	$3.9M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	—	$34.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	$26K	$415K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	$16K	$44K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	$2K	$1.5M	20x	as long as short
Extended PENDLE-USD	+0.0104%	1h	$170K	$520K	10x	as long as short
Aevo PENDLE-PERP	+0.0104%	1h	$27K	—	3x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0272%	1h	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0277%	1h	$373K	$450K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0432%	1h	$114K	$432K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1745%	1h	$163K	$233K	20x	as long as short