PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h +0.029%

Price spread now: Lighter against dYdX+0.012%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 Lighter

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—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX PENDLE-USD	2.4014	0	get 0.0000% / 1h	28m 20s	$10K	—	5x
Short	Lighter PENDLE	2.4017	0.0096	get 0.0012% / 1h	28m 20s	$655K	$530K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.012%Rate

Funding earned: $20.16
Price spread: +0.012% → 0.000%: $1.15
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $11.31
Costs to cover: 0.100%
Break-even: 3.1 days

Slippage unknown: dYdX: no order-book sample; Lighter: live order book, 10 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 Lighter live order book, 10 min ago	4.55 bp	10.6 bp −$11	82.1 bp −$821	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 exchanges

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
Kraken Futures PF_PENDLEUSD	−0.0401%	1h	2.4012	−0.008%	$123K	$255K	20x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0250%	1h	2.3999	−0.063%	$24K	$10K	10x	as long as short
MEXC PENDLE_USDT	−0.0098%	8h	2.3993	−0.088%	$18.2M	$2.1M	125x	as long as short
Binance PENDLEUSDT	−0.0097%	8h	2.3993	−0.088%	$24.8M	$46.8M	75x	as long as short
Extended PENDLE-USD	−0.0096%	1h	2.4004	−0.042%	$156K	$945K	10x	as long as short
BloFin PENDLE-USDT	−0.0096%	8h	2.3988	−0.109%	$1.1M	$521K	75x	as long as short
GRVT PENDLE_USDT_Perp	−0.0036%	8h	2.3984	−0.126%	$397K	$3.1M	10x	as long as short
Aster PENDLEUSDT	−0.0022%	8h	2.3986	−0.116%	$50K	$163K	10x	as long as short
dYdX PENDLE-USDlong	0.0000%	1h	2.4014	long leg	$10K	—	5x
Orderly PERP_PENDLE_USDC	+0.0012%	8h	2.3988	−0.109%	$18K	$15K	10x	as long as short

Show all 30 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni PENDLEUSDT	+0.0045%	1h	2.3995	−0.080%	$73K	$231K	50x	as long as short
Aevo PENDLE-PERP	+0.0056%	1h	2.4002	−0.051%	$25K	—	3x	as long as short
Variational Omni PENDLE	+0.0065%	8h	2.3989	−0.104%	$540K	$919K	—	as long as short
Lighter PENDLEshort	+0.0096%	1h	2.4017	+0.012%	$655K	$530K	5x
Reya PENDLERUSDPERP	+0.0098%	1h	2.3987	−0.114%	$3K	—	15x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.3991	−0.098%	$34K	—	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4000	−0.059%	$14.4M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4000	−0.059%	$3.0M	$6.7M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4000	−0.059%	$766K	$984K	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.3988	−0.109%	$634K	$507K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4008	−0.026%	$3.8M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4000	−0.059%	—	$8.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.3979	−0.147%	$22K	$367K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4011	−0.013%	$16K	$4K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4014	−0.001%	$2K	$1.8M	20x	as long as short
Hyperliquid PENDLE	+0.0118%	1h	2.4031	+0.070%	$12.8M	$5.9M	5x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0175% / S −0.0165%	1h	2.4005	−0.037%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0680%	1h	2.4050	+0.149%	$161K	$536K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0692%	1h	2.4052	+0.157%	$357K	$384K	15x	as long as short
Injective PENDLE/USDC PERP	+0.3871%	1h	2.4660	+2.689%	$2K	$55K	5.5x	as long as short