PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC+0.0184%/8h= +20.1% APRnext payment +$1.84 per $10,000 · paid last 24h +0.027%

Price spread now: KuCoin against Binance+0.148%7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$780.781% of the position

Long on Binance Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.084%+$8 on $10k

Price spread, last 7 days−0.218%−$22 · spread now +0.148%, 7d avg −0.022%

Together, before fees−0.134%−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and KuCoin is 0.169% dearer against Binance than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of −0.022%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.084% in total (about 4.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.84 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PENDLEUSDT	2.4388	−0.0084	get 0.0084% / 8h	5h 54m	$25.4M	$46.2M	75x
Short	KuCoin PENDLEUSDTM	2.4424	0.0100	get 0.0100% / 8h	5h 54m	$687K	$495K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BinancebpFee KuCoinbpOrdersPrice spread, now +0.148%Rate

Funding earned: $38.63
Price spread: +0.148% → −0.022%: $16.95
Slippage, 4 orders: −$56.08
Fee Binance: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$22.5
Costs to cover: 0.781%
Break-even: 11.1 days

Slippage from Binance: live order book, 11 min ago; KuCoin: live order book, 52 min ago.

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 Binance live order book, 11 min ago	1.02 bp	11.1 bp −$11	23.9 bp −$239	doesn't fit	doesn't fit
Sell KuCoin live order book, 52 min ago	7.41 bp	28.8 bp −$29	136.0 bp −$1,360	doesn't fit	doesn't fit

PENDLE on 30 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_PENDLEUSD	−0.0395%	1h	2.4401	+0.052%	$122K	$252K	20x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0365%	1h	2.4388	0.000%	$25K	$10K	10x	as long as short
Binance PENDLEUSDTlong	−0.0084%	8h	2.4388	long leg	$25.4M	$46.2M	75x
MEXC PENDLE_USDT	−0.0083%	8h	2.4370	−0.074%	$18.5M	$2.1M	125x	as long as short
Extended PENDLE-USD	−0.0080%	1h	2.4377	−0.046%	$157K	$940K	10x	as long as short
BloFin PENDLE-USDT	−0.0070%	8h	2.4391	+0.012%	$1.1M	$520K	75x	as long as short
Aster PENDLEUSDT	−0.0003%	8h	2.4378	−0.041%	$51K	$166K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4416	+0.114%	$10K	—	5x	as long as short
Orderly PERP_PENDLE_USDC	+0.0014%	8h	2.4379	−0.037%	$18K	$14K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0015%	8h	2.4411	+0.096%	$413K	$3.0M	10x	as long as short

Show all 30 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni PENDLEUSDT	+0.0055%	1h	2.4460	+0.295%	$74K	$231K	50x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4373	−0.063%	$25K	—	3x	as long as short
Variational Omni PENDLE	+0.0066%	8h	2.4399	+0.044%	$574K	$1.0M	—	as long as short
Lighter PENDLE	+0.0096%	1h	2.4396	+0.033%	$674K	$512K	5x	as long as short
Reya PENDLERUSDPERP	+0.0096%	1h	2.4377	−0.044%	$3K	—	15x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4367	−0.088%	$34K	—	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4371	−0.070%	$14.3M	$11.6M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4390	+0.008%	$3.1M	$6.8M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4360	−0.115%	$773K	$959K	75x	as long as short
KuCoin PENDLEUSDTMshort	+0.0100%	8h	2.4424	+0.148%	$687K	$495K	50x
Bitget PENDLEUSDT	+0.0100%	8h	2.4382	−0.025%	$3.8M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4388	0.000%	—	$8.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4412	+0.097%	$23K	$366K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4401	+0.053%	$16K	$4K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4404	+0.066%	$2K	$1.8M	20x	as long as short
Hyperliquid PENDLE	+0.0128%	1h	2.4415	+0.111%	$13.0M	$5.9M	5x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0184% / S −0.0207%	1h	2.4374	−0.057%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0379%	1h	2.4425	+0.152%	$365K	$417K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0680%	1h	2.4550	+0.664%	$168K	$538K	25x	as long as short
Injective PENDLE/USDC PERP	+0.3871%	1h	2.4660	+1.115%	$2K	$55K	5.5x	as long as short