PENDLE

Alert

After costs, if the gap returns to its 7d average, $10k−$51

spread now−0.258%7d average−0.199%fees + slippage, in and out−$46spread needed0.456%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack PENDLE_USDC_PERP	2.5600	0.0699	pay 0.0087% / 1h	0m 55s	$376K	$462K	15x
Short	Extended PENDLE-USD	2.5534	0.0056	get 0.0007% / 1h	0m 55s	$168K	$519K	10x

Price spread history

latest

Range statsloading…

share of time at each level, last 7D

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

Position, each leg$Hold forhoursFee BackpackbpFee ExtendedbpOrdersClose when spread is

Slippage from Backpack: live order book, 39 min ago; Extended: live order book, 38 min ago.

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, 39 min ago	2.36 bp	10.1 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 38 min ago	0.98 bp	14.4 bp −$14	130.0 bp −$1,300	doesn't fit	doesn't fit

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Injective PENDLE/USDC PERP	−1.563%	−0.4277%	1h	$2K	$7K	5.5x	as long as short
ApeX Omni PENDLEUSDT	−0.723%	+0.0100%	1h	$78K	$237K	50x	as long as short
edgeX PENDLEUSDC	−0.690%	+0.0100%	4h	$25K	$417K	10x	as long as short
Variational Omni PENDLE	−0.441%	−0.0166%	8h	$659K	$2.3M	—	as long as short
dYdX PENDLE-USD	−0.400%	0.0000%	1h	$11K	—	5x	as long as short
Paradex PENDLE-USD-PERP	−0.323%	+0.0100%	8h	$36K	$29K	10x	as long as short
Gate PENDLE_USDT	−0.313%	+0.0100%	8h	$822K	$1.1M	75x	as long as short
Bitget PENDLEUSDT	−0.301%	+0.0100%	8h	$3.9M	$2.7M	75x	as long as short
Aster PENDLEUSDT	−0.293%	−0.0034%	8h	$51K	$138K	10x	as long as short
Reya PENDLERUSDPERP	−0.287%	+0.0018%	1h	$4K	—	15x	as long as short

Show all 29 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Bybit PENDLEUSDT	−0.285%	+0.0100%	8h	$15.9M	$12.0M	50x	as long as short
Extended PENDLE-USDshort	−0.258%	+0.0056%	1h	$168K	$519K	10x
KuCoin PENDLEUSDTM	−0.242%	+0.0100%	8h	$938K	$602K	50x	as long as short
BingX PENDLE-USDT	−0.242%	+0.0100%	8h	—	$34.3M	—	as long as short
Polymarket Perps PENDLE-USD	−0.242%	+0.0100%	1h	$16K	$30K	5x	as long as short
Aevo PENDLE-PERP	−0.240%	+0.0096%	1h	$27K	—	3x	as long as short
SunX PENDLE-USDT	−0.234%	+0.0100%	8h	$2K	$1.6M	20x	as long as short
MEXC PENDLE_USDT	−0.227%	+0.0052%	8h	$17.0M	$2.2M	125x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	−0.222%	L +0.0200% / S −0.0272%	1h	$5K	—	100x	as long as short
Binance PENDLEUSDT	−0.216%	+0.0052%	8h	$28.0M	$35.9M	75x	as long as short
Lighter PENDLE	−0.207%	+0.0096%	1h	$558K	$364K	5x	as long as short
Coinbase International PENDLE-PERP-INTX	−0.195%	+0.0592%	1h	$116K	$463K	25x	as long as short
Orderly PERP_PENDLE_USDC	−0.191%	+0.0045%	8h	$20K	$4K	10x	as long as short
BloFin PENDLE-USDT	−0.191%	+0.0022%	8h	$1.4M	$816K	75x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.164%	+0.0063%	1h	$30K	$11K	10x	as long as short
OKX PENDLE-USDT-SWAP	−0.156%	+0.0100%	4h	$3.3M	$5.3M	50x	as long as short
Hyperliquid PENDLE	−0.145%	+0.0100%	1h	$12.2M	$5.4M	5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.063%	+0.2122%	1h	$157K	$283K	20x	as long as short
Backpack PENDLE_USDC_PERPlong	0.000%	+0.0699%	1h	$376K	$462K	15x