PENDLE

Alert

Funding spread now, next payment 15:00 UTC−0.0205%/8h

next payment, per $10,000−$0.26paid, last 24h−0.009%paid, last 3 days+0.042%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 3 days it paid 0.042% in total (about 5.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.26 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	Reya PENDLERUSDPERP	2.6370	0.0000	pay 0.0000% / 1h	43m 09s	$4K	—	15x
Short	Deribit PENDLE_USDC-PERPETUAL	2.6384	−0.0205	pay 0.0026% / 1h	43m 09s	$31K	$10K	10x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee ReyabpFee DeribitbpOrdersRate

Funding earned: −$43.07
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$56.07
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Deribit: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: +0.054%
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 Reya no order-book sample	—	—	—	—	—
Sell Deribit no order-book sample	—	—	—	—	—

Reya and Deribit: 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	−0.3627%	1h	$4K	$51K	5.5x	as long as short
ApeX Omni PENDLEUSDT	−0.0282%	1h	$80K	$234K	50x	as long as short
Variational Omni PENDLE	−0.0206%	8h	$864K	$2.1M	—	as long as short
Deribit PENDLE_USDC-PERPETUALshort	−0.0205%	1h	$31K	$10K	10x
Bybit PENDLEUSDT	−0.0189%	8h	$16.4M	$11.2M	50x	as long as short
Gate PENDLE_USDT	−0.0016%	8h	$832K	$1.0M	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	$11K	—	5x	as long as short
Reya PENDLERUSDPERPlong	0.0000%	1h	$4K	—	15x
Orderly PERP_PENDLE_USDC	+0.0047%	8h	$21K	$4K	10x	as long as short
Aster PENDLEUSDT	+0.0084%	8h	$51K	$119K	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
BloFin PENDLE-USDT	+0.0086%	8h	$1.5M	$828K	75x	as long as short
Lighter PENDLE	+0.0096%	1h	$582K	$329K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	$37K	$31K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	$12.6M	$5.0M	5x	as long as short
Binance PENDLEUSDT	+0.0100%	8h	$29.5M	$31.3M	75x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	$3.3M	$4.7M	50x	as long as short
MEXC PENDLE_USDT	+0.0100%	8h	$16.9M	$2.1M	125x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	$1.1M	$461K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	$4.0M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	—	$34.1M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	$26K	$417K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	$19K	$71K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	$1K	$1.4M	20x	as long as short
Extended PENDLE-USD	+0.0104%	1h	$174K	$520K	10x	as long as short
Aevo PENDLE-PERP	+0.0104%	1h	$28K	—	3x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0269%	1h	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0368%	1h	$68K	$334K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0426%	1h	$374K	$446K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1458%	1h	$170K	$219K	20x	as long as short