PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0584%/8h= +64.0% APRnext payment +$0.73 per $10,000 · paid last 24h +0.177%

Price spread now: Backpack against dYdX+0.266%7-day average — · you sell dearer than you buy

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

Long on dYdX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 6 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 +$18 a day on $10k at the current rate, and Backpack is 0.266% dearer against dYdX than usual: you sell high and buy low: +$27 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	dYdX PENDLE-USD	2.4288	0	get 0.0000% / 1h	0m 05s	$10K	—	5x
Short	Backpack PENDLE_USDC_PERP	2.4353	0.0584	get 0.0073% / 1h	0m 05s	$359K	$440K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against dYdX. 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 dYdXbpFee BackpackbpOrdersPrice spread, now +0.266%Rate

Funding earned: $122.72
Price spread: +0.266% → 0.000%: $26.64
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: $129.36
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: dYdX: no order-book sample; Backpack: live order book, 39 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 dYdX no order-book sample	—	—	—	—	—
Sell Backpack live order book, 39 min ago	1.84 bp	10.7 bp −$11	348.0 bp −$3,480	doesn't fit	doesn't fit

dYdX: 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	−0.4810%	1h	2.4010	−1.146%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0120%	1h	2.4310	+0.089%	$25K	$16K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0034%	1h	2.4239	−0.203%	$74K	$232K	50x	as long as short
Orderly PERP_PENDLE_USDC	−0.0014%	8h	2.4305	+0.069%	$18K	$15K	10x	as long as short
dYdX PENDLE-USDlong	0.0000%	1h	2.4288	long leg	$10K	—	5x
MEXC PENDLE_USDT	+0.0006%	8h	2.4294	+0.023%	$18.0M	$2.1M	125x	as long as short
Binance PENDLEUSDT	+0.0007%	8h	2.4299	+0.046%	$25.5M	$46.2M	75x	as long as short
Extended PENDLE-USD	+0.0008%	1h	2.4275	−0.054%	$156K	$924K	10x	as long as short
BloFin PENDLE-USDT	+0.0034%	8h	2.4273	−0.063%	$1.1M	$503K	75x	as long as short
GRVT PENDLE_USDT_Perp	+0.0079%	8h	2.4271	−0.072%	$400K	$2.6M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PENDLE-PERP	+0.0080%	1h	2.4291	+0.013%	$25K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0086%	1h	2.4310	+0.089%	$3K	—	15x	as long as short
Gate PENDLE_USDT	+0.0089%	8h	2.4310	+0.089%	$768K	$1.1M	75x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4300	+0.048%	$523K	$432K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4291	+0.012%	$34K	$5K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4330	+0.170%	$12.7M	$6.1M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4297	+0.038%	$48K	$171K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4284	−0.018%	$14.1M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4300	+0.048%	$3.1M	$6.7M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4286	−0.009%	$701K	$617K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4294	+0.023%	$3.8M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4298	+0.040%	—	$8.2M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4262	−0.109%	$565K	$1.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4238	−0.208%	$24K	$370K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4320	+0.131%	$16K	$4K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4332	+0.180%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4313	+0.102%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERPshort	+0.0584%	1h	2.4353	+0.266%	$359K	$440K	15x
Coinbase International PENDLE-PERP-INTX	+0.0672%	1h	2.4360	+0.295%	$158K	$511K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1522%	1h	2.4356	+0.280%	$115K	$259K	20x	as long as short