Spread before costs (cost unknown: a leg has no order-book sample)+0.151%
7d average—if it closes, per $10,000$15funding while held, a day+$63.48
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit PENDLE_USDC-PERPETUAL | 2.5617 | 0 | get 0.0000% / 1h | 19m 11s | $30K | $11K | 10x |
| Short | Kraken Futures PF_PENDLEUSD | 2.5656 | 0.2116 | get 0.0265% / 1h | 19m 11s | $156K | $269K | 20x |
Deribit PENDLE_USDC-PERPETUAL
Kraken Futures PF_PENDLEUSDPrice 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
- $15.1
- Funding while held
- $63.48
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $61.58
- Spread needed to break even
- 0.170%
Slippage unknown: Deribit: no order-book sample; Kraken Futures: live order book, 20 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.2116%
- Per $10,000 a day
- +$63.48
- 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 Kraken Futures live order book, 20 min ago | 5.88 bp | 40.1 bp −$40 | 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.Injective2.5290cheapestParadex2.5583+1.160%Gate2.5590+1.186%dYdX2.5592+1.193%Extended2.5594+1.203%Bitget2.5595+1.206%Variational Omni2.5597+1.215%Aster2.5598+1.219%edgeX2.5598+1.220%Bybit2.5600+1.226%OKX2.5600+1.226%Binance2.5600+1.226%BloFin2.5603+1.238%KuCoin2.5604+1.242%Lighter2.5605+1.246%MEXC2.5605+1.246%Orderly2.5606+1.250%BingX2.5607+1.253%ApeX Omni2.5607+1.253%Reya2.5607+1.254%Aevo2.5611+1.270%Polymarket Perps2.5612+1.273%SunX2.5614+1.281%
Injective
Paradex
Gate
dYdX
Extended
Bitget
Variational Omni
Aster
Bybit
OKX
Binance
BloFin
KuCoin
Lighter
MEXC
Orderly
BingX
ApeX Omni
Reya
Aevo
Polymarket Perps
SunXDeribit2.5617+1.293%
GMX2.5620+1.304%Hyperliquid2.5639+1.380%Coinbase International2.5640+1.384%Backpack2.5652+1.431%
GMX
Hyperliquid
Coinbase International
BackpackKraken Futures2.5656+1.446%
PENDLE on 29 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective PENDLE/USDC PERP | −1.276% | −0.4277% | 1h | $2K | $7K | 5.5x | as long as short |
| Paradex PENDLE-USD-PERP | −0.131% | +0.0100% | 8h | $36K | $29K | 10x | as long as short |
| Gate PENDLE_USDT | −0.105% | +0.0091% | 8h | $821K | $1.1M | 75x | as long as short |
| dYdX PENDLE-USD | −0.098% | 0.0000% | 1h | $11K | — | 5x | as long as short |
| Extended PENDLE-USD | −0.089% | +0.0056% | 1h | $168K | $518K | 10x | as long as short |
| Bitget PENDLEUSDT | −0.086% | +0.0100% | 8h | $3.8M | $2.5M | 75x | as long as short |
| Variational Omni PENDLE | −0.077% | −0.0200% | 8h | $661K | $2.2M | — | as long as short |
| Aster PENDLEUSDT | −0.073% | −0.0027% | 8h | $52K | $133K | 10x | as long as short |
| edgeX PENDLEUSDC | −0.072% | +0.0100% | 4h | $25K | $416K | 10x | as long as short |
| Bybit PENDLEUSDT | −0.066% | +0.0100% | 8h | $16.0M | $11.8M | 50x | as long as short |