PENDLE

Alert

Spread before costs (cost unknown: a leg has no order-book sample)+0.320%

7d average+0.020%if it closes, per $10,000$32funding while held, a day+$5.35

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PENDLEUSDT	2.6551	−0.0078	get 0.0078% / 8h	2h 34m	$16.5M	$10.6M	50x
Short	KuCoin PENDLEUSDTM	2.6636	0.0100	get 0.0100% / 8h	2h 34m	$1.1M	$455K	50x

Price spread history

latest

Range statsloading…

share of time at each level, last 7D

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Position, each leg$Hold forhoursFee BybitbpFee KuCoinbpOrdersClose when spread is

Slippage unknown: Bybit: live order book, 5 min ago; KuCoin: live order book, 6 min ago. Net counts fees only.

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Bybit live order book, 5 min ago	1.87 bp	9.9 bp −$10	63.8 bp −$638	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	7.82 bp	69.7 bp −$70	doesn't fit	doesn't fit	doesn't fit

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Injective PENDLE/USDC PERP	−0.606%	−0.0760%	1h	$4K	$51K	5.5x	as long as short
OKX PENDLE-USDT-SWAP	−0.041%	+0.0100%	4h	$3.3M	$4.5M	50x	as long as short
Bybit PENDLEUSDTlong	0.000%	−0.0078%	8h	$16.5M	$10.6M	50x
Extended PENDLE-USD	+0.124%	+0.0104%	1h	$178K	$516K	10x	as long as short
BingX PENDLE-USDT	+0.132%	+0.0100%	8h	—	$34.0M	—	as long as short
Binance PENDLEUSDT	+0.182%	+0.0100%	8h	$29.7M	$29.6M	75x	as long as short
Bitget PENDLEUSDT	+0.196%	+0.0100%	8h	$4.0M	$2.5M	75x	as long as short
MEXC PENDLE_USDT	+0.226%	+0.0100%	8h	$17.3M	$1.8M	125x	as long as short
Gate PENDLE_USDT	+0.260%	+0.0025%	8h	$833K	$991K	75x	as long as short
BloFin PENDLE-USDT	+0.271%	+0.0075%	8h	$1.5M	$819K	75x	as long as short

Show all 29 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Reya PENDLERUSDPERP	+0.274%	−0.0004%	1h	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.286%	+0.0043%	8h	$22K	$4K	10x	as long as short
KuCoin PENDLEUSDTMshort	+0.320%	+0.0100%	8h	$1.1M	$455K	50x
Deribit PENDLE_USDC-PERPETUAL	+0.320%	0.0000%	1h	$29K	$8K	10x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	+0.345%	L +0.0200% / S −0.0269%	1h	$6K	—	100x	as long as short
Lighter PENDLE	+0.354%	+0.0096%	1h	$572K	$270K	5x	as long as short
SunX PENDLE-USDT	+0.358%	+0.0100%	8h	$2K	$1.3M	20x	as long as short
Paradex PENDLE-USD-PERP	+0.360%	+0.0100%	8h	$37K	$32K	10x	as long as short
Aster PENDLEUSDT	+0.372%	+0.0086%	8h	$51K	$116K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.380%	+0.0100%	1h	$19K	$86K	5x	as long as short
Aevo PENDLE-PERP	+0.391%	+0.0104%	1h	$28K	—	3x	as long as short
Backpack PENDLE_USDC_PERP	+0.418%	+0.0100%	1h	$345K	$426K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.448%	+0.0200%	1h	$72K	$319K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.508%	+0.0947%	1h	$151K	$187K	20x	as long as short
Hyperliquid PENDLE	+0.516%	+0.0316%	1h	$12.8M	$4.6M	5x	as long as short
dYdX PENDLE-USD	+0.525%	0.0000%	1h	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.654%	−0.0114%	8h	$901K	$2.1M	—	as long as short
edgeX PENDLEUSDC	+0.795%	+0.0100%	4h	$27K	$413K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.893%	−0.0075%	1h	$81K	$237K	50x	as long as short