Spread before costs (cost unknown: a leg has no order-book sample)−0.218%
7d average—if it closes, per $10,000$22funding while held, a day+$10.16
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit PENDLE_USDC-PERPETUAL | 2.6598 | −0.0239 | get 0.0030% / 1h | 53m 50s | $31K | $10K | 10x |
| Short | Binance PENDLEUSDT | 2.6540 | 0.0100 | get 0.0100% / 8h | 1h 53m | $29.9M | $30.2M | 75x |
Deribit PENDLE_USDC-PERPETUAL
Binance PENDLEUSDTPrice 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
- −$21.81
- Funding while held
- $10.16
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$28.65
- Spread needed to break even
- 0.170%
Slippage unknown: Deribit: no order-book sample; Binance: live order book, 4 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0339%
- Per $10,000 a day
- +$10.16
- 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 4 min ago | 0.75 bp | 10.9 bp −$11 | 28.7 bp −$287 | doesn't fit | doesn't fit |
Deribit: 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.Injective2.6430cheapestBybit2.6490+0.227%OKX2.6510+0.303%BingX2.6519+0.337%Gate2.6520+0.341%Extended2.6524+0.355%Bitget2.6526+0.363%
Injective
Bybit
OKX
BingX
Gate
Extended
BitgetBinance2.6540+0.416%
MEXC2.6550+0.454%KuCoin2.6561+0.496%Aster2.6576+0.552%Paradex2.6590+0.606%Reya2.6593+0.616%Orderly2.6593+0.617%Aevo2.6594+0.621%
MEXC
KuCoin
Aster
Paradex
Reya
Orderly
AevoDeribit2.6598+0.636%
Polymarket Perps2.6599+0.639%GMX2.6599+0.641%Hyperliquid2.6600+0.644%Lighter2.6601+0.647%SunX2.6605+0.662%Backpack2.6608+0.673%BloFin2.6629+0.753%dYdX2.6640+0.795%Kraken Futures2.6652+0.840%Variational Omni2.6652+0.841%ApeX Omni2.6708+1.052%Coinbase International2.6730+1.135%edgeX2.6741+1.177%
Polymarket Perps
GMX
Hyperliquid
Lighter
SunX
Backpack
BloFin
dYdX
Kraken Futures
Variational Omni
ApeX Omni
Coinbase InternationalPENDLE on 29 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective PENDLE/USDC PERP | −0.632% | −0.3627% | 1h | $4K | $51K | 5.5x | as long as short |
| Bybit PENDLEUSDT | −0.406% | −0.0178% | 8h | $16.6M | $11.0M | 50x | as long as short |
| OKX PENDLE-USDT-SWAP | −0.331% | +0.0100% | 4h | $3.3M | $4.6M | 50x | as long as short |
| BingX PENDLE-USDT | −0.297% | +0.0100% | 8h | — | $34.1M | — | as long as short |
| Gate PENDLE_USDT | −0.293% | −0.0009% | 8h | $834K | $1.0M | 75x | as long as short |
| Extended PENDLE-USD | −0.278% | +0.0104% | 1h | $176K | $520K | 10x | as long as short |
| Bitget PENDLEUSDT | −0.271% | +0.0100% | 8h | $4.0M | $2.5M | 75x | as long as short |
| Binance PENDLEUSDTshort | −0.218% | +0.0100% | 8h | $29.9M | $30.2M | 75x | |
| MEXC PENDLE_USDT | −0.180% | +0.0100% | 8h | $17.4M | $1.9M | 125x | as long as short |
| KuCoin PENDLEUSDTM | −0.139% | +0.0100% | 8h | $1.1M | $454K | 50x | as long as short |