PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0421%/8h= +46.1% APRnext payment +$0.53 per $10,000 · paid last 24h +0.126%

Price spread now: Backpack against Aevo+0.241%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Backpack is 0.241% dearer against Aevo than usual: you sell high and buy low: +$24 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENDLE-PERP	2.4644	0.0064	pay 0.0008% / 1h	51m 27s	$26K	—	3x
Short	Backpack PENDLE_USDC_PERP	2.4703	0.0485	get 0.0061% / 1h	51m 27s	$356K	$478K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Aevo. 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 AevobpFee BackpackbpOrdersPrice spread, now +0.241%Rate

Funding earned: $88.44
Price spread: +0.241% → 0.000%: $24.14
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Backpack: 5 bp × 2 orders: −$10
Net: $86.59
Costs to cover: 0.260%
Break-even: 0.1 days

Slippage unknown: Aevo: no order-book sample; Backpack: live order book, 7 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 Aevo no order-book sample	—	—	—	—	—
Sell Backpack live order book, 7 min ago	1.62 bp	8.4 bp −$8	581.2 bp −$5,812	doesn't fit	doesn't fit

Aevo: 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	−0.4334%	1h	2.4430	−0.866%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0358%	1h	2.4653	+0.039%	$25K	$14K	10x	as long as short
BloFin PENDLE-USDT	−0.0082%	8h	2.4693	+0.201%	$1.3M	$652K	75x	as long as short
Extended PENDLE-USD	−0.0072%	1h	2.4634	−0.037%	$161K	$570K	10x	as long as short
Binance PENDLEUSDT	−0.0071%	8h	2.4637	−0.026%	$26.2M	$43.8M	75x	as long as short
MEXC PENDLE_USDT	−0.0068%	8h	2.4641	−0.010%	$17.3M	$1.9M	125x	as long as short
Aster PENDLEUSDT	−0.0044%	8h	2.4676	+0.133%	$47K	$178K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0036%	8h	2.4655	+0.047%	$19K	$15K	10x	as long as short
Gate PENDLE_USDT	−0.0019%	8h	2.4650	+0.026%	$716K	$1.1M	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4666	+0.090%	$10K	—	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PENDLE	+0.0030%	8h	2.4746	+0.416%	$564K	$1.8M	—	as long as short
Reya PENDLERUSDPERP	+0.0063%	1h	2.4649	+0.024%	$3K	—	15x	as long as short
Aevo PENDLE-PERPlong	+0.0064%	1h	2.4644	long leg	$26K	—	3x
GRVT PENDLE_USDT_Perp	+0.0081%	8h	2.4685	+0.168%	$412K	$1.8M	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4653	+0.039%	$526K	$414K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4634	−0.037%	$34K	$13K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4640	−0.014%	$14.6M	$12.3M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4650	+0.026%	$3.1M	$6.2M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4681	+0.152%	$873K	$580K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4656	+0.051%	$3.7M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4663	+0.079%	—	$8.6M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4687	+0.175%	$24K	$377K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4674	+0.124%	$75K	$235K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4672	+0.116%	$16K	$8K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4666	+0.091%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4666	+0.091%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0248%	1h	2.4691	+0.193%	$12.6M	$6.1M	5x	as long as short
Backpack PENDLE_USDC_PERPshort	+0.0485%	1h	2.4703	+0.241%	$356K	$478K	15x
Coinbase International PENDLE-PERP-INTX	+0.0608%	1h	2.4760	+0.473%	$147K	$493K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1177%	1h	2.4712	+0.278%	$115K	$278K	20x	as long as short