PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0106%/8h= −11.6% APRnext payment −$0.13 per $10,000 · paid last 24h −0.043%

Price spread now: Deribit against ApeX Omni−0.239%74s7-day average — · you buy dearer than you sell

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

Long on ApeX Omni Short on Deribit

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 against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.239% cheaper against ApeX Omni than usual: you would sell low and buy high (−$24 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 74 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	ApeX Omni PENDLEUSDT	2.5130	0.0077	pay 0.0010% / 1h	11m 59s	$77K	$239K	50x
Short	Deribit PENDLE_USDC-PERPETUAL	2.5070	−0.0029	pay 0.0004% / 1h	11m 59s	$30K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against ApeX Omni. 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 ApeX OmnibpFee DeribitbpOrdersPrice spread, now −0.239%Rate

Funding earned: −$22.23
Price spread: −0.239% → 0.000%: −$23.88
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$63.11
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 9 min ago; Deribit: no order-book sample. 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 ApeX Omni live order book, 9 min ago	3.37 bp	12.1 bp −$12	111.3 bp −$1,113	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

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 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	−0.4806%	1h	2.4840	−1.154%	$2K	$53K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0432%	1h	2.5077	−0.211%	$149K	$277K	20x	as long as short
Deribit PENDLE_USDC-PERPETUALshort	−0.0029%	1h	2.5070	−0.239%	$30K	$10K	10x
dYdX PENDLE-USD	0.0000%	1h	2.5079	−0.202%	$11K	—	5x	as long as short
Orderly PERP_PENDLE_USDC	+0.0034%	8h	2.5068	−0.247%	$25K	$11K	10x	as long as short
Reya PENDLERUSDPERP	+0.0037%	1h	2.5062	−0.270%	$4K	—	15x	as long as short
MEXC PENDLE_USDT	+0.0043%	8h	2.5056	−0.294%	$16.9M	$2.3M	125x	as long as short
Binance PENDLEUSDT	+0.0045%	8h	2.5055	−0.298%	$27.2M	$39.5M	75x	as long as short
BloFin PENDLE-USDT	+0.0046%	8h	2.5067	−0.251%	$1.3M	$738K	75x	as long as short
Extended PENDLE-USD	+0.0048%	1h	2.5049	−0.321%	$165K	$524K	10x	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	+0.0055%	8h	2.5174	+0.175%	$619K	$2.1M	—	as long as short
ApeX Omni PENDLEUSDTlong	+0.0077%	1h	2.5130	long leg	$77K	$239K	50x
Aevo PENDLE-PERP	+0.0088%	1h	2.5064	−0.262%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5065	−0.259%	$543K	$397K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5060	−0.280%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5089	−0.163%	$12.3M	$5.7M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5066	−0.255%	$41K	$172K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5041	−0.354%	$15.5M	$12.0M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5070	−0.239%	$3.2M	$5.7M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5080	−0.199%	$851K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5062	−0.271%	$891K	$606K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5062	−0.271%	$3.7M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5061	−0.275%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5135	+0.019%	$25K	$413K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5173	+0.173%	$425K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5080	−0.199%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5074	−0.223%	$1K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5068	−0.246%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5090	−0.159%	$116K	$418K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0840%	1h	2.5121	−0.036%	$362K	$460K	15x	as long as short