PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h +0.002%

Price spread now: Lighter against Polymarket Perps−0.068%45s7-day average — · you buy dearer than you sell

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

Long on Polymarket Perps Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.126%+$13 on $10k

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

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.068% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$7 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 45 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	Polymarket Perps PENDLE-USD	2.5155	0.0100	pay 0.0013% / 1h	47m 44s	$16K	$20K	5x
Short	Lighter PENDLE	2.5138	0.0096	get 0.0012% / 1h	47m 44s	$535K	$414K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Polymarket Perps. 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 Polymarket PerpsbpFee LighterbpOrdersPrice spread, now −0.068%Rate

Funding earned: −$0.84
Price spread: −0.068% → 0.000%: −$6.76
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$15.6
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Polymarket Perps: no order-book sample; Lighter: live order book, 13 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 Polymarket Perps no order-book sample	—	—	—	—	—
Sell Lighter live order book, 13 min ago	9.55 bp	10.0 bp −$10	98.0 bp −$980	doesn't fit	doesn't fit

Polymarket Perps: 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	−0.4742%	1h	2.4750	−1.610%	$2K	$54K	5.5x	as long as short
ApeX Omni PENDLEUSDT	−0.0606%	1h	2.5137	−0.072%	$77K	$237K	50x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0545%	1h	2.5149	−0.024%	$26K	$14K	10x	as long as short
Bybit PENDLEUSDT	−0.0139%	8h	2.5110	−0.179%	$15.4M	$12.1M	50x	as long as short
GRVT PENDLE_USDT_Perp	−0.0129%	8h	2.5154	−0.004%	$420K	$1.7M	10x	as long as short
Extended PENDLE-USD	−0.0112%	1h	2.5117	−0.151%	$163K	$565K	10x	as long as short
Binance PENDLEUSDT	−0.0111%	8h	2.5136	−0.077%	$27.1M	$43.2M	75x	as long as short
MEXC PENDLE_USDT	−0.0111%	8h	2.5135	−0.080%	$17.4M	$1.8M	125x	as long as short
BloFin PENDLE-USDT	−0.0095%	8h	2.5143	−0.048%	$1.3M	$654K	75x	as long as short
Variational Omni PENDLE	−0.0040%	8h	2.5116	−0.155%	$599K	$1.8M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENDLE_USDT	−0.0035%	8h	2.5120	−0.139%	$784K	$1.2M	75x	as long as short
Orderly PERP_PENDLE_USDC	−0.0031%	8h	2.5134	−0.083%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5166	+0.044%	$11K	—	5x	as long as short
Aster PENDLEUSDT	+0.0009%	8h	2.5130	−0.101%	$50K	$180K	10x	as long as short
Reya PENDLERUSDPERP	+0.0053%	1h	2.5132	−0.093%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0056%	1h	2.5132	−0.092%	$26K	—	3x	as long as short
Lighter PENDLEshort	+0.0096%	1h	2.5138	−0.068%	$535K	$414K	5x
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5126	−0.114%	$35K	$16K	10x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5140	−0.060%	$3.2M	$6.2M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5159	+0.016%	$855K	$593K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5156	+0.004%	$3.8M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5132	−0.091%	—	$33.8M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5102	−0.210%	$25K	$380K	10x	as long as short
Polymarket Perps PENDLE-USDlong	+0.0100%	1h	2.5155	long leg	$16K	$20K	5x
SunX PENDLE-USDT	+0.0100%	8h	2.5141	−0.056%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0158% / S −0.0256%	1h	2.5158	+0.011%	$7K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0297%	1h	2.5187	+0.127%	$353K	$485K	15x	as long as short
Hyperliquid PENDLE	+0.0313%	1h	2.5190	+0.139%	$13.0M	$6.4M	5x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0632%	1h	2.5210	+0.219%	$146K	$470K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0865%	1h	2.5197	+0.166%	$117K	$291K	20x	as long as short