Spread before costs (cost unknown: a leg has no order-book sample)−0.233%
7d average—if it closes, per $10,000$23funding while held, a day−$8.53
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack PENDLE_USDC_PERP | 2.6586 | 0.0335 | pay 0.0042% / 1h | 8m 44s | $376K | $445K | 15x |
| Short | Orderly PERP_PENDLE_USDC | 2.6524 | 0.0050 | get 0.0050% / 8h | 1h 08m | $22K | $4K | 10x |
Backpack PENDLE_USDC_PERP
Orderly PERP_PENDLE_USDCPrice 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
- −$23.32
- Funding while held
- −$8.53
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$47.85
- Spread needed to break even
- 0.160%
Slippage unknown: Backpack: live order book, 46 min ago; Orderly: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0284%
- Per $10,000 a day
- −$8.53
- 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, 46 min ago | 2.06 bp | 11.3 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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.edgeX2.6393cheapestVariational Omni2.6424+0.120%ApeX Omni2.6445+0.199%Injective2.6500+0.407%BloFin2.6513+0.456%Coinbase International2.6520+0.483%Polymarket Perps2.6521+0.487%Aevo2.6523+0.494%
Variational Omni
ApeX Omni
Injective
BloFin
Coinbase International
Polymarket Perps
AevoOrderly2.6524+0.498%
Gate2.6530+0.521%Deribit2.6535+0.540%Reya2.6539+0.553%GMX2.6546+0.582%Extended2.6547+0.587%BingX2.6548+0.589%SunX2.6551+0.600%Bitget2.6556+0.619%Bybit2.6560+0.634%Aster2.6562+0.640%OKX2.6570+0.672%KuCoin2.6570+0.672%
Gate
Deribit
Reya
GMX
Extended
BingX
SunX
Bitget
Bybit
Aster
OKX
KuCoinBackpack2.6586+0.733%
dYdX2.6586+0.733%Paradex2.6587+0.737%Lighter2.6589+0.744%Kraken Futures2.6593+0.759%MEXC2.6593+0.759%Binance2.6601+0.790%Hyperliquid2.6603+0.797%
dYdX
Paradex
Lighter
Kraken Futures
MEXC
Binance
HyperliquidPENDLE on 29 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| edgeX PENDLEUSDC | −0.728% | +0.0100% | 4h | $26K | $414K | 10x | as long as short |
| Variational Omni PENDLE | −0.608% | −0.0227% | 8h | $880K | $2.1M | — | as long as short |
| ApeX Omni PENDLEUSDT | −0.530% | +0.0002% | 1h | $80K | $234K | 50x | as long as short |
| Injective PENDLE/USDC PERP | −0.323% | −0.3627% | 1h | $3K | $52K | 5.5x | as long as short |
| BloFin PENDLE-USDT | −0.275% | +0.0078% | 8h | $1.5M | $835K | 75x | as long as short |
| Coinbase International PENDLE-PERP-INTX | −0.248% | +0.0368% | 1h | $87K | $364K | 25x | as long as short |
| Polymarket Perps PENDLE-USD | −0.244% | +0.0005% | 1h | $18K | $70K | 5x | as long as short |
| Aevo PENDLE-PERP | −0.237% | +0.0104% | 1h | $28K | — | 3x | as long as short |
| Orderly PERP_PENDLE_USDCshort | −0.233% | +0.0050% | 8h | $22K | $4K | 10x | |
| Gate PENDLE_USDT | −0.211% | −0.0033% | 8h | $827K | $1.0M | 75x | as long as short |