PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0021%/8h= −2.3% APRnext payment −$0.21 per $10,000 · paid last 24h +0.001%

Price spread now: Binance against BloFin−0.148%71s7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$500.496% of the position

Long on BloFin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.054%+$5 · spread now −0.148%, 7d avg +0.011%

Together, before fees+0.056%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Binance is 0.159% cheaper against BloFin than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of +0.011%). Swap the legs. The two prices were read 71 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PENDLE-USDT	2.4591	−0.0043	get 0.0043% / 8h	3h 50m	$1.1M	$595K	75x
Short	Binance PENDLEUSDT	2.4555	−0.0064	pay 0.0064% / 8h	3h 50m	$26.0M	$43.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against BloFin. 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 BloFinbpFee BinancebpOrdersPrice spread, now −0.148%Rate

Funding earned: −$4.44
Price spread: −0.148% → +0.011%: −$15.93
Slippage, 4 orders: −$27.64
Fee BloFin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$70
Costs to cover: 0.496%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; Binance: live order book, 7 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 BloFin live order book, 2 min ago	3.25 bp	13.6 bp −$14	24.7 bp −$247	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	1.22 bp	11.4 bp −$11	28.1 bp −$281	136.3 bp −$13.6K	doesn't fit

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	−0.4243%	1h	2.4370	−0.899%	$2K	$54K	5.5x	as long as short
ApeX Omni PENDLEUSDT	−0.0402%	1h	2.4639	+0.195%	$75K	$235K	50x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0238%	1h	2.4580	−0.045%	$25K	$14K	10x	as long as short
Gate PENDLE_USDT	−0.0079%	8h	2.4610	+0.077%	$715K	$1.1M	75x	as long as short
Binance PENDLEUSDTshort	−0.0064%	8h	2.4555	−0.148%	$26.0M	$43.6M	75x
Extended PENDLE-USD	−0.0064%	1h	2.4541	−0.201%	$158K	$576K	10x	as long as short
MEXC PENDLE_USDT	−0.0061%	8h	2.4572	−0.077%	$17.4M	$1.9M	125x	as long as short
Aster PENDLEUSDT	−0.0043%	8h	2.4622	+0.126%	$47K	$171K	10x	as long as short
BloFin PENDLE-USDTlong	−0.0043%	8h	2.4591	long leg	$1.1M	$595K	75x
Orderly PERP_PENDLE_USDC	−0.0041%	8h	2.4572	−0.077%	$19K	$15K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENDLE-USD	0.0000%	1h	2.4601	+0.040%	$10K	—	5x	as long as short
GRVT PENDLE_USDT_Perp	+0.0049%	8h	2.4655	+0.259%	$413K	$1.9M	10x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4566	−0.103%	$26K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0067%	1h	2.4578	−0.054%	$3K	—	15x	as long as short
Variational Omni PENDLE	+0.0071%	8h	2.4606	+0.060%	$552K	$1.4M	—	as long as short
Lighter PENDLE	+0.0096%	1h	2.4582	−0.037%	$515K	$428K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4568	−0.095%	$34K	$11K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4548	−0.175%	$14.5M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4570	−0.085%	$3.1M	$6.3M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4598	+0.028%	$883K	$550K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4562	−0.118%	$3.7M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4586	−0.020%	—	$8.5M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4631	+0.163%	$24K	$376K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4599	+0.033%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4591	0.000%	$2K	$1.8M	20x	as long as short
Hyperliquid PENDLE	+0.0143%	1h	2.4624	+0.134%	$12.7M	$6.0M	5x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4583	−0.032%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0447%	1h	2.4627	+0.146%	$358K	$399K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0640%	1h	2.4640	+0.199%	$146K	$497K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1182%	1h	2.4638	+0.191%	$115K	$268K	20x	as long as short