Spread before costs (cost unknown: a leg has no order-book sample)+0.123%
7d average—if it closes, per $10,000$12funding while held, a day+$13.41
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit PENDLE_USDC-PERPETUAL | 2.6725 | −0.0161 | get 0.0020% / 1h | 0m 05s | $31K | $10K | 10x |
| Short | Hyperliquid PENDLE | 2.6758 | 0.0286 | get 0.0036% / 1h | 0m 05s | $12.8M | $4.8M | 5x |
Deribit PENDLE_USDC-PERPETUAL
Hyperliquid PENDLEPrice 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
- $12.35
- Funding while held
- $13.41
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $9.76
- Spread needed to break even
- 0.160%
Slippage unknown: Deribit: no order-book sample; Hyperliquid: live order book, 4 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0447%
- Per $10,000 a day
- +$13.41
- 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 Hyperliquid live order book, 4 min ago | 1.30 bp | 13.8 bp −$14 | 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 price on every exchange
against the cheapest. Click to use as the short leg.Injective2.6320cheapestBybit2.6680+1.368%Extended2.6689+1.401%Gate2.6700+1.444%Bitget2.6703+1.455%Reya2.6705+1.461%OKX2.6710+1.482%BingX2.6711+1.486%Polymarket Perps2.6714+1.497%Aevo2.6715+1.500%Orderly2.6717+1.508%Binance2.6721+1.523%SunX2.6724+1.535%Paradex2.6724+1.537%
Injective
Bybit
Extended
Gate
Bitget
Reya
OKX
BingX
Polymarket Perps
Aevo
Orderly
Binance
SunX
ParadexDeribit2.6725+1.539%
GMX2.6729+1.553%MEXC2.6731+1.562%dYdX2.6734+1.573%Lighter2.6735+1.577%Aster2.6736+1.579%KuCoin2.6736+1.581%BloFin2.6752+1.641%Backpack2.6755+1.653%
GMX
MEXC
dYdX
Lighter
Aster
KuCoin
BloFin
BackpackHyperliquid2.6758+1.664%
Coinbase International2.6770+1.710%Kraken Futures2.6772+1.716%Variational Omni2.6783+1.758%edgeX2.6828+1.928%ApeX Omni2.6873+2.101%
Coinbase International
Kraken Futures
Variational Omni
ApeX OmniPENDLE on 29 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective PENDLE/USDC PERP | −1.515% | −0.0760% | 1h | $4K | $51K | 5.5x | as long as short |
| Bybit PENDLEUSDT | −0.168% | −0.0160% | 8h | $16.7M | $11.0M | 50x | as long as short |
| Extended PENDLE-USD | −0.136% | +0.0104% | 1h | $177K | $520K | 10x | as long as short |
| Gate PENDLE_USDT | −0.094% | −0.0002% | 8h | $840K | $1.0M | 75x | as long as short |
| Bitget PENDLEUSDT | −0.082% | +0.0100% | 8h | $4.0M | $2.5M | 75x | as long as short |
| Reya PENDLERUSDPERP | −0.076% | −0.0001% | 1h | $4K | — | 15x | as long as short |
| OKX PENDLE-USDT-SWAP | −0.056% | +0.0100% | 4h | $3.3M | $4.6M | 50x | as long as short |
| BingX PENDLE-USDT | −0.052% | +0.0100% | 8h | — | $34.1M | — | as long as short |
| Polymarket Perps PENDLE-USD | −0.041% | +0.0100% | 1h | $19K | $73K | 5x | as long as short |
| Aevo PENDLE-PERP | −0.038% | +0.0104% | 1h | $28K | — | 3x | as long as short |