PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0111%/8h= +12.2% APRnext payment +$1.11 per $10,000 · paid last 24h −0.036%

Price spread now: Variational Omni against Orderly−0.054%7-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 Variational Omni

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 airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.054% cheaper against Orderly than usual: you would sell low and buy high (spread −0.054% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 39 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_PENDLE_USDC	2.4599	−0.0041	get 0.0041% / 8h	3h 54m	$19K	$15K	10x
Short	Variational Omni PENDLE	2.4586	0.0070	get 0.0070% / 8h	3h 54m	$552K	$1.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.054%Rate

Funding earned: $23.36
Price spread: −0.054% → 0.000%: −$5.41
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $11.95
Costs to cover: 0.060%
Break-even: 3.4 days

Slippage unknown: Orderly: no order-book sample; Variational Omni: RFQ quote, 5 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 Variational Omni RFQ quote, 5 min ago	6.77 bp	doesn't fit	46.0 bp −$460	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	−0.4243%	1h	2.4370	−0.931%	$2K	$54K	5.5x	as long as short
ApeX Omni PENDLEUSDT	−0.0593%	1h	2.4620	+0.085%	$75K	$235K	50x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0278%	1h	2.4614	+0.061%	$25K	$14K	10x	as long as short
Gate PENDLE_USDT	−0.0068%	8h	2.4630	+0.126%	$715K	$1.1M	75x	as long as short
BloFin PENDLE-USDT	−0.0066%	8h	2.4656	+0.232%	$1.1M	$596K	75x	as long as short
Extended PENDLE-USD	−0.0064%	1h	2.4585	−0.057%	$159K	$578K	10x	as long as short
MEXC PENDLE_USDT	−0.0061%	8h	2.4596	−0.012%	$17.4M	$1.9M	125x	as long as short
Binance PENDLEUSDT	−0.0060%	8h	2.4593	−0.024%	$26.0M	$43.6M	75x	as long as short
Aster PENDLEUSDT	−0.0053%	8h	2.4638	+0.158%	$47K	$179K	10x	as long as short
Orderly PERP_PENDLE_USDClong	−0.0041%	8h	2.4599	long leg	$19K	$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	2.4633	+0.138%	$10K	—	5x	as long as short
GRVT PENDLE_USDT_Perp	+0.0054%	8h	2.4595	−0.018%	$408K	$1.9M	10x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4596	−0.012%	$26K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0067%	1h	2.4599	+0.002%	$3K	—	15x	as long as short
Variational Omni PENDLEshort	+0.0070%	8h	2.4586	−0.054%	$552K	$1.4M	—
Lighter PENDLE	+0.0096%	1h	2.4650	+0.207%	$517K	$428K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4607	+0.033%	$34K	$11K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4590	−0.037%	$14.5M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4630	+0.126%	$3.1M	$6.3M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4640	+0.167%	$885K	$550K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4630	+0.126%	$3.7M	$2.2M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4610	+0.045%	—	$8.5M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4595	−0.016%	$24K	$375K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4625	+0.106%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4624	+0.102%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4608	+0.036%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0201%	1h	2.4643	+0.180%	$12.7M	$6.0M	5x	as long as short
Backpack PENDLE_USDC_PERP	+0.0366%	1h	2.4712	+0.459%	$359K	$399K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0640%	1h	2.4660	+0.248%	$147K	$496K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1179%	1h	2.4701	+0.413%	$115K	$268K	20x	as long as short