After costs, if the gap returns to its 7d average, $10k−$153
spread now+0.126%7d average+0.018%fees + slippage, in and out−$164spread needed1.638%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack PENDLE_USDC_PERP | 2.5901 | 0.0268 | pay 0.0033% / 1h | 27m 05s | $373K | $450K | 15x |
| Short | Kraken Futures PF_PENDLEUSD | 2.5934 | 0.1742 | get 0.0218% / 1h | 27m 05s | $163K | $233K | 20x |
Backpack PENDLE_USDC_PERP
Kraken Futures PF_PENDLEUSDPrice 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
- $12.62
- Funding while held
- $44.25
- Slippage, 4 orders
- −$143.77
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$106.91
- Spread needed to break even
- 1.638%
Slippage from Backpack: live order book, 18 min ago; Kraken Futures: live order book, 17 min ago.
Cost of waiting
funding view- Funding /8h
- +0.1475%
- Per $10,000 a day
- +$44.25
- 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, 18 min ago | 2.31 bp | 9.6 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 17 min ago | 15.37 bp | 48.8 bp −$49 | doesn't fit | doesn't fit | doesn't fit |
PENDLE price on every exchange
against the cheapest. Click to use as the short leg.Injective2.5600cheapestBybit2.5781+0.707%Binance2.5811+0.826%OKX2.5820+0.859%Variational Omni2.5831+0.904%BingX2.5843+0.949%Bitget2.5844+0.953%BloFin2.5847+0.965%Aevo2.5851+0.980%Extended2.5853+0.987%Paradex2.5855+0.998%ApeX Omni2.5856+1.000%MEXC2.5859+1.012%Gate2.5860+1.016%Orderly2.5861+1.020%Reya2.5863+1.026%KuCoin2.5866+1.039%Deribit2.5869+1.051%GMX2.5871+1.057%edgeX2.5872+1.061%Lighter2.5874+1.070%Polymarket Perps2.5877+1.082%SunX2.5879+1.090%Aster2.5880+1.092%dYdX2.5886+1.117%Hyperliquid2.5896+1.156%
Injective
Bybit
Binance
OKX
Variational Omni
BingX
Bitget
BloFin
Aevo
Extended
Paradex
ApeX Omni
MEXC
Gate
Orderly
Reya
KuCoin
Deribit
GMX
Lighter
Polymarket Perps
SunX
Aster
dYdX
HyperliquidBackpack2.5901+1.176%
Coinbase International2.5930+1.289%
Coinbase InternationalKraken Futures2.5934+1.303%
PENDLE on 29 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective PENDLE/USDC PERP | −1.162% | −0.1875% | 1h | $2K | $6K | 5.5x | as long as short |
| Bybit PENDLEUSDT | −0.463% | −0.0134% | 8h | $16.1M | $11.9M | 50x | as long as short |
| Binance PENDLEUSDT | −0.346% | +0.0100% | 8h | $28.7M | $33.8M | 75x | as long as short |
| OKX PENDLE-USDT-SWAP | −0.313% | +0.0100% | 4h | $3.2M | $5.0M | 50x | as long as short |
| Variational Omni PENDLE | −0.269% | −0.0270% | 8h | $670K | $2.3M | — | as long as short |
| BingX PENDLE-USDT | −0.224% | +0.0100% | 8h | — | $34.3M | — | as long as short |
| Bitget PENDLEUSDT | −0.220% | +0.0100% | 8h | $3.9M | $2.6M | 75x | as long as short |
| BloFin PENDLE-USDT | −0.208% | +0.0089% | 8h | $1.4M | $856K | 75x | as long as short |
| Aevo PENDLE-PERP | −0.193% | +0.0104% | 1h | $27K | — | 3x | as long as short |
| Extended PENDLE-USD | −0.186% | +0.0104% | 1h | $171K | $520K | 10x | as long as short |