Spread before costs (cost unknown: a leg has no order-book sample)+0.002%
7d average—if it closes, per $10,000$0funding while held, a day−$12.32
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack PENDLE_USDC_PERP | 2.6083 | 0.0411 | pay 0.0051% / 1h | 17m 39s | $369K | $448K | 15x |
| Short | dYdX PENDLE-USD | 2.6083 | 0 | get 0.0000% / 1h | 17m 39s | $11K | — | 5x |
Backpack PENDLE_USDC_PERP
dYdX PENDLE-USDPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $0.17
- Funding while held
- −$12.32
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$32.15
- Spread needed to break even
- 0.200%
Slippage unknown: Backpack: live order book, 33 min ago; dYdX: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0411%
- Per $10,000 a day
- −$12.32
- Average in range /8h
- —
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 Backpack live order book, 33 min ago | 0.19 bp | 10.9 bp −$11 | 35.9 bp −$359 | doesn't fit | doesn't fit |
| Sell dYdX no order-book sample | — | — | — | — | — |
dYdX: 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 price on every exchange
against the cheapest. Click to use as the short leg.Injective2.5940cheapestReya2.6015+0.290%Orderly2.6018+0.301%Deribit2.6021+0.312%GMX2.6023+0.319%Bybit2.6030+0.347%Polymarket Perps2.6031+0.351%Aevo2.6034+0.362%Bitget2.6041+0.389%BingX2.6041+0.389%SunX2.6043+0.397%OKX2.6050+0.424%Extended2.6052+0.432%Lighter2.6058+0.455%Binance2.6062+0.470%BloFin2.6064+0.478%Paradex2.6065+0.482%MEXC2.6065+0.482%Gate2.6070+0.501%Variational Omni2.6073+0.512%Aster2.6075+0.519%KuCoin2.6078+0.532%Kraken Futures2.6078+0.534%
Injective
Reya
Orderly
Deribit
GMX
Bybit
Polymarket Perps
Aevo
Bitget
BingX
SunX
OKX
Extended
Lighter
Binance
BloFin
Paradex
MEXC
Gate
Variational Omni
Aster
KuCoin
Kraken FuturesBackpack2.6083+0.551%
dYdX2.6083+0.553%
Hyperliquid2.6087+0.567%ApeX Omni2.6132+0.740%edgeX2.6141+0.776%Coinbase International2.6160+0.848%
Hyperliquid
ApeX Omni
Coinbase InternationalPENDLE on 29 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective PENDLE/USDC PERP | −0.548% | −0.1178% | 1h | $2K | $6K | 5.5x | as long as short |
| Reya PENDLERUSDPERP | −0.260% | +0.0007% | 1h | $4K | — | 15x | as long as short |
| Orderly PERP_PENDLE_USDC | −0.249% | +0.0054% | 8h | $21K | $4K | 10x | as long as short |
| Deribit PENDLE_USDC-PERPETUAL | −0.238% | 0.0000% | 1h | $31K | $10K | 10x | as long as short |
| GMX PENDLE/USD [PENDLE-USDC] | −0.231% | L +0.0200% / S −0.0269% | 1h | $5K | — | 100x | as long as short |
| Bybit PENDLEUSDT | −0.203% | −0.0243% | 8h | $16.2M | $11.5M | 50x | as long as short |
| Polymarket Perps PENDLE-USD | −0.199% | −0.0036% | 1h | $18K | $54K | 5x | as long as short |
| Aevo PENDLE-PERP | −0.189% | +0.0104% | 1h | $27K | — | 3x | as long as short |
| Bitget PENDLEUSDT | −0.161% | +0.0100% | 8h | $3.9M | $2.6M | 75x | as long as short |
| BingX PENDLE-USDT | −0.161% | +0.0100% | 8h | — | $34.2M | — | as long as short |
Show all 29 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| SunX PENDLE-USDT | −0.153% | +0.0100% | 8h | $1K | $1.5M | 20x | as long as short |
| OKX PENDLE-USDT-SWAP | −0.127% | +0.0100% | 4h | $3.2M | $4.8M | 50x | as long as short |
| Extended PENDLE-USD | −0.119% | +0.0104% | 1h | $172K | $520K | 10x | as long as short |
| Lighter PENDLE | −0.096% | +0.0096% | 1h | $567K | $359K | 5x | as long as short |
| Binance PENDLEUSDT | −0.081% | +0.0100% | 8h | $29.0M | $32.8M | 75x | as long as short |
| BloFin PENDLE-USDT | −0.073% | +0.0074% | 8h | $1.5M | $851K | 75x | as long as short |
| Paradex PENDLE-USD-PERP | −0.069% | +0.0100% | 8h | $36K | $30K | 10x | as long as short |
| MEXC PENDLE_USDT | −0.069% | +0.0100% | 8h | $16.9M | $2.1M | 125x | as long as short |
| Gate PENDLE_USDT | −0.050% | −0.0010% | 8h | $810K | $1.1M | 75x | as long as short |
| Variational Omni PENDLE | −0.039% | −0.0268% | 8h | $834K | $2.2M | — | as long as short |
| Aster PENDLEUSDT | −0.032% | +0.0022% | 8h | $50K | $125K | 10x | as long as short |
| KuCoin PENDLEUSDTM | −0.019% | +0.0100% | 8h | $1.0M | $484K | 50x | as long as short |
| Kraken Futures PF_PENDLEUSD | −0.018% | +0.1879% | 1h | $166K | $218K | 20x | as long as short |
| Backpack PENDLE_USDC_PERPlong | 0.000% | +0.0411% | 1h | $369K | $448K | 15x | |
| dYdX PENDLE-USDshort | +0.002% | 0.0000% | 1h | $11K | — | 5x | |
| Hyperliquid PENDLE | +0.015% | +0.0100% | 1h | $12.3M | $5.1M | 5x | as long as short |
| ApeX Omni PENDLEUSDT | +0.188% | +0.0100% | 1h | $79K | $236K | 50x | as long as short |
| edgeX PENDLEUSDC | +0.224% | +0.0100% | 4h | $26K | $416K | 10x | as long as short |
| Coinbase International PENDLE-PERP-INTX | +0.295% | +0.0496% | 1h | $100K | $396K | 25x | as long as short |