PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0990%/8h= +108.4% APRnext payment +$1.24 per $10,000 · paid last 24h +0.034%

Price spread now: Coinbase International against Deribit+0.055%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Coinbase International

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

Both sides work for this trade now. Funding pays +$30 a day on $10k at the current rate, and Coinbase International is 0.055% dearer against Deribit than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit PENDLE_USDC-PERPETUAL	2.5386	−0.0262	get 0.0033% / 1h	7m 02s	$26K	$14K	10x
Short	Coinbase International PENDLE-PERP-INTX	2.5400	0.0728	get 0.0091% / 1h	7m 02s	$144K	$464K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Deribit. 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 DeribitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.055%Rate

Funding earned: $207.86
Price spread: +0.055% → 0.000%: $5.51
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $196.38
Costs to cover: 0.170%
Break-even: 0.4 days

Slippage unknown: Deribit: no order-book sample; Coinbase International: live order book, 1 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 1 min ago	11.82 bp	436.1 bp −$436	doesn't fit	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 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	−0.4643%	1h	2.5030	−1.402%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUALlong	−0.0262%	1h	2.5386	long leg	$26K	$14K	10x
Bybit PENDLEUSDT	−0.0193%	8h	2.5352	−0.134%	$15.6M	$12.0M	50x	as long as short
Binance PENDLEUSDT	−0.0100%	8h	2.5363	−0.091%	$27.4M	$42.9M	75x	as long as short
Extended PENDLE-USD	−0.0096%	1h	2.5361	−0.100%	$165K	$565K	10x	as long as short
MEXC PENDLE_USDT	−0.0096%	8h	2.5377	−0.035%	$17.2M	$1.9M	125x	as long as short
GRVT PENDLE_USDT_Perp	−0.0095%	8h	2.5402	+0.065%	$420K	$1.7M	10x	as long as short
BloFin PENDLE-USDT	−0.0080%	8h	2.5375	−0.043%	$1.3M	$663K	75x	as long as short
ApeX Omni PENDLEUSDT	−0.0057%	1h	2.5447	+0.240%	$78K	$237K	50x	as long as short
Orderly PERP_PENDLE_USDC	−0.0026%	8h	2.5383	−0.012%	$20K	$16K	10x	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	−0.0024%	8h	2.5356	−0.119%	$611K	$1.8M	—	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5397	+0.043%	$11K	—	5x	as long as short
Aster PENDLEUSDT	+0.0043%	8h	2.5415	+0.112%	$48K	$174K	10x	as long as short
Reya PENDLERUSDPERP	+0.0052%	1h	2.5363	−0.092%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0056%	1h	2.5378	−0.031%	$27K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5378	−0.032%	$539K	$418K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5395	+0.035%	$36K	$18K	10x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5330	−0.221%	$3.2M	$6.0M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5380	−0.024%	$793K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5405	+0.075%	$882K	$589K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5366	−0.079%	$3.9M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5362	−0.095%	—	$35.6M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5435	+0.192%	$25K	$380K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5380	−0.024%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5381	−0.020%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0203% / S −0.0382%	1h	2.5400	+0.053%	$7K	—	100x	as long as short
Hyperliquid PENDLE	+0.0363%	1h	2.5428	+0.166%	$13.1M	$6.3M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0612%	1h	2.5435	+0.194%	$118K	$291K	20x	as long as short
Coinbase International PENDLE-PERP-INTXshort	+0.0728%	1h	2.5400	+0.055%	$144K	$464K	25x
Backpack PENDLE_USDC_PERP	+0.0901%	1h	2.5413	+0.106%	$356K	$487K	15x	as long as short