PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0014%/8h= +1.6% APRnext payment +$0.14 per $10,000 · paid last 24h −0.018%

Price spread now: Orderly against Binance−0.197%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Orderly is 0.197% cheaper against Binance than usual: you would sell low and buy high (spread −0.197% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$20 on $10k: about 45 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PENDLEUSDT	2.5353	−0.0008	get 0.0008% / 8h	49m 45s	$27.4M	$41.6M	75x
Short	Orderly PERP_PENDLE_USDC	2.5303	0.0006	get 0.0006% / 8h	49m 45s	$20K	$16K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.197%Rate

Funding earned: $3.04
Price spread: −0.197% → 0.000%: −$19.72
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$32.68
Costs to cover: 0.160%
Break-even: 82.3 days

Slippage unknown: Binance: live order book, 7 min ago; Orderly: no order-book sample. Net counts fees only.

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, 7 min ago	1.00 bp	12.4 bp −$12	28.0 bp −$280	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 on 30 venues

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
Injective PENDLE/USDC PERP	−0.5000%	1h	2.4860	−1.945%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0145%	1h	2.5318	−0.138%	$30K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0068%	1h	2.5214	−0.548%	$77K	$239K	50x	as long as short
BloFin PENDLE-USDT	−0.0014%	8h	2.5197	−0.615%	$1.3M	$758K	75x	as long as short
Binance PENDLEUSDTlong	−0.0008%	8h	2.5353	long leg	$27.4M	$41.6M	75x
Extended PENDLE-USD	−0.0008%	1h	2.5349	−0.015%	$167K	$528K	10x	as long as short
MEXC PENDLE_USDT	−0.0005%	8h	2.5359	+0.024%	$17.2M	$1.9M	125x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5244	−0.431%	$11K	—	5x	as long as short
Orderly PERP_PENDLE_USDCshort	+0.0006%	8h	2.5303	−0.197%	$20K	$16K	10x
Reya PENDLERUSDPERP	+0.0043%	1h	2.5301	−0.206%	$4K	—	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PENDLE	+0.0050%	8h	2.5212	−0.557%	$557K	$1.8M	—	as long as short
GRVT PENDLE_USDT_Perp	+0.0071%	8h	2.5159	−0.765%	$420K	$1.6M	10x	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.5313	−0.158%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5360	+0.028%	$534K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5241	−0.443%	$35K	$18K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5414	+0.241%	$12.6M	$6.0M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5335	−0.071%	$46K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5360	+0.028%	$15.7M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5370	+0.067%	$3.3M	$6.0M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5370	+0.067%	$792K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5390	+0.146%	$905K	$593K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5345	−0.032%	$3.8M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5358	+0.020%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5147	−0.811%	$25K	$395K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5318	−0.138%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5316	−0.146%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5323	−0.119%	$5K	—	100x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0592%	1h	2.5377	+0.095%	$120K	$301K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5250	−0.406%	$141K	$456K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.1179%	1h	2.5364	+0.043%	$329K	$492K	15x	as long as short