PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0504%/8h= +55.2% APRnext payment +$0.63 per $10,000 · paid last 24h −0.035%

Price spread now: Coinbase International against Extended+0.427%7-day average +0.142% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$760.757% of the position

Long on Extended Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.028%+$3 on $10k

Price spread, last 3 days (all we have)−0.309%−$31 · spread now +0.427%, 7d avg +0.142%

Together, before fees−0.281%+ Points / potential airdropExtended: Active · farm board−$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Coinbase International is 0.285% dearer against Extended than usual: you sell high and buy low: +$29 more if the spread goes back to its 7-day average of +0.142%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.028% in total (about 1.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.63 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENDLE-USD	2.5252	0.0056	pay 0.0007% / 1h	21m 44s	$166K	$524K	10x
Short	Coinbase International PENDLE-PERP-INTX	2.5360	0.0560	get 0.0070% / 1h	21m 44s	$117K	$434K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Extended. 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 ExtendedbpFee Coinbase InternationalbpOrdersPrice spread, now +0.427%Rate

Funding earned: $105.84
Price spread: +0.427% → +0.142%: $28.51
Slippage, 4 orders: −$60.65
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $58.7
Costs to cover: 0.757%
Break-even: 3.1 days

Slippage from Extended: live order book, 1 min ago; Coinbase International: live order book, 1 min ago.

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 Extended live order book, 1 min ago	0.99 bp	13.6 bp −$14	110.6 bp −$1,106	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	11.85 bp	27.8 bp −$28	doesn't fit	doesn't fit	doesn't fit

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	−0.4806%	1h	2.4990	−1.038%	$2K	$7K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0427%	1h	2.5355	+0.406%	$151K	$279K	20x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0224%	1h	2.5300	+0.190%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5278	+0.101%	$11K	—	5x	as long as short
Orderly PERP_PENDLE_USDC	+0.0035%	8h	2.5303	+0.202%	$25K	$11K	10x	as long as short
Reya PENDLERUSDPERP	+0.0036%	1h	2.5293	+0.163%	$4K	—	15x	as long as short
BloFin PENDLE-USDT	+0.0037%	8h	2.5265	+0.051%	$1.3M	$748K	75x	as long as short
Variational Omni PENDLE	+0.0043%	8h	2.5289	+0.147%	$611K	$2.3M	—	as long as short
Binance PENDLEUSDT	+0.0056%	8h	2.5261	+0.035%	$27.5M	$39.3M	75x	as long as short
Extended PENDLE-USDlong	+0.0056%	1h	2.5252	long leg	$166K	$524K	10x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC PENDLE_USDT	+0.0057%	8h	2.5260	+0.031%	$17.1M	$2.3M	125x	as long as short
ApeX Omni PENDLEUSDT	+0.0084%	1h	2.5265	+0.051%	$77K	$240K	50x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5266	+0.055%	$549K	$396K	5x	as long as short
Aevo PENDLE-PERP	+0.0096%	1h	2.5288	+0.143%	$26K	—	3x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5257	+0.018%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5294	+0.166%	$12.4M	$5.6M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5277	+0.097%	$41K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5250	−0.008%	$15.6M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5260	+0.031%	$3.3M	$5.7M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5260	+0.031%	$843K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5284	+0.126%	$915K	$611K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5279	+0.107%	$3.8M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5252	0.000%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5266	+0.054%	$25K	$410K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5275	+0.092%	$426K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5307	+0.217%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5304	+0.206%	$1K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5306	+0.213%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTXshort	+0.0560%	1h	2.5360	+0.427%	$117K	$434K	25x
Backpack PENDLE_USDC_PERP	+0.0849%	1h	2.5348	+0.380%	$367K	$465K	15x	as long as short