After costs, if the gap returns to its 7d average, $10k−$27
spread now+0.205%7d average−0.007%fees + slippage, in and out−$48spread needed0.480%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack PENDLE_USDC_PERP | 2.6778 | 0.0408 | pay 0.0051% / 1h | 1m 10s | $378K | $445K | 15x |
| Short | Hyperliquid PENDLE | 2.6833 | 0.0297 | get 0.0037% / 1h | 1m 10s | $12.9M | $4.8M | 5x |
Backpack PENDLE_USDC_PERP
Hyperliquid PENDLEPrice 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
- $20.54
- Funding while held
- −$3.32
- Slippage, 4 orders
- −$28.99
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$30.77
- Spread needed to break even
- 0.480%
Slippage from Backpack: live order book, 59 min ago; Hyperliquid: live order book, 3 min ago.
Cost of waiting
funding view- Funding /8h
- −0.0111%
- Per $10,000 a day
- −$3.32
- 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, 59 min ago | 1.83 bp | 9.9 bp −$10 | 39.7 bp −$397 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 3 min ago | 1.30 bp | 13.8 bp −$14 | doesn't fit | doesn't fit | doesn't fit |
PENDLE price on every exchange
against the cheapest. Click to use as the short leg.Injective2.6320cheapestOKX2.6710+1.482%Bybit2.6718+1.512%Bitget2.6735+1.577%BingX2.6735+1.577%KuCoin2.6749+1.630%Binance2.6750+1.634%BloFin2.6752+1.641%MEXC2.6755+1.653%Extended2.6772+1.717%
Injective
OKX
Bybit
Bitget
BingX
KuCoin
Binance
BloFin
MEXC
ExtendedBackpack2.6778+1.740%
Reya2.6789+1.783%Aevo2.6794+1.801%Orderly2.6795+1.805%Deribit2.6798+1.816%GMX2.6798+1.816%Gate2.6800+1.824%Lighter2.6807+1.850%Polymarket Perps2.6816+1.884%SunX2.6818+1.892%Paradex2.6822+1.907%edgeX2.6828+1.928%Aster2.6828+1.931%
Reya
Aevo
Orderly
Deribit
GMX
Gate
Lighter
Polymarket Perps
SunX
Paradex
AsterHyperliquid2.6833+1.949%
dYdX2.6839+1.972%Variational Omni2.6858+2.046%Kraken Futures2.6863+2.064%ApeX Omni2.6873+2.101%Coinbase International2.6910+2.242%
dYdX
Variational Omni
Kraken Futures
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 | −1.710% | −0.0760% | 1h | $4K | $51K | 5.5x | as long as short |
| OKX PENDLE-USDT-SWAP | −0.254% | +0.0100% | 4h | $3.3M | $4.6M | 50x | as long as short |
| Bybit PENDLEUSDT | −0.224% | −0.0160% | 8h | $16.7M | $11.0M | 50x | as long as short |
| Bitget PENDLEUSDT | −0.161% | +0.0100% | 8h | $4.0M | $2.5M | 75x | as long as short |
| BingX PENDLE-USDT | −0.161% | +0.0100% | 8h | — | $34.1M | — | as long as short |
| KuCoin PENDLEUSDTM | −0.108% | +0.0100% | 8h | $1.1M | $454K | 50x | as long as short |
| Binance PENDLEUSDT | −0.105% | +0.0100% | 8h | $30.1M | $30.1M | 75x | as long as short |
| BloFin PENDLE-USDT | −0.097% | +0.0076% | 8h | $1.5M | $830K | 75x | as long as short |
| MEXC PENDLE_USDT | −0.086% | +0.0100% | 8h | $17.5M | $1.9M | 125x | as long as short |
| Extended PENDLE-USD | −0.023% | +0.0104% | 1h | $177K | $520K | 10x | as long as short |