PENDLE

Alert

Funding spread now, next payment 18:00 UTC−0.4041%/8h

paid, last 24h−0.079%paid, last 3 days+0.029%to open and closeno order book

Long on Variational Omni Short on Injective

The current rate is far above what this pair has been paying: over the last 3 days it paid 0.029% in total (about 3.5% a year). A funding rate is set anew for every payment. 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	Variational Omni PENDLE	2.5496	−0.0235	get 0.0235% / 8h	6h 36m	$663K	$2.2M	—
Short	Injective PENDLE/USDC PERP	2.5110	−0.4277	pay 0.0535% / 1h	36m 16s	$2K	$7K	5.5x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Variational OmnibpFee InjectivebpOrdersRate

Funding earned: −$848.71
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$848.73
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Injective: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: −1.516%
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 Variational Omni RFQ quote, 4 min ago	4.70 bp	doesn't fit	61.6 bp −$616	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 PERPshort	−0.4277%	1h	$2K	$7K	5.5x
Variational Omni PENDLElong	−0.0235%	8h	$663K	$2.2M	—
Aster PENDLEUSDT	−0.0029%	8h	$51K	$133K	10x	as long as short
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
Reya PENDLERUSDPERP	+0.0016%	1h	$4K	—	15x	as long as short
BloFin PENDLE-USDT	+0.0044%	8h	$1.4M	$848K	75x	as long as short
Orderly PERP_PENDLE_USDC	+0.0049%	8h	$20K	$4K	10x	as long as short
Extended PENDLE-USD	+0.0056%	1h	$168K	$520K	10x	as long as short
MEXC PENDLE_USDT	+0.0057%	8h	$16.9M	$2.2M	125x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Binance PENDLEUSDT	+0.0058%	8h	$28.0M	$34.9M	75x	as long as short
Gate PENDLE_USDT	+0.0092%	8h	$819K	$1.1M	75x	as long as short
Lighter PENDLE	+0.0096%	1h	$559K	$356K	5x	as long as short
Aevo PENDLE-PERP	+0.0096%	1h	$27K	—	3x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	$36K	$29K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	$12.3M	$5.3M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	$15.9M	$11.8M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	$3.3M	$5.2M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	$939K	$561K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	$3.8M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	—	$34.2M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	$25K	$416K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	$78K	$238K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	$16K	$30K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	$2K	$1.6M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0272%	1h	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	$115K	$433K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0714%	1h	$378K	$455K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.2119%	1h	$156K	$269K	20x	as long as short