PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0315%/8h= −34.5% APRnext payment −$0.39 per $10,000 · paid last 24h +0.312%

Price spread now: Kraken Futures against Extended+0.118%7-day average +0.230% · you sell dearer than you buy

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$155as in the Price arb table

costs, in and out, $10k−$1431.434% of the position

Long on Extended Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.391%+$39 on $10k

Price spread, last 4 days (all we have)+0.126%+$13 · spread now +0.118%, 7d avg +0.230%

Together, before fees+0.516%+ Points / potential airdropExtended: Active · farm board+$52 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Kraken Futures is 0.112% cheaper against Extended than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.230%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.391%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENDLE-USD	2.4387	−0.0080	get 0.0010% / 1h	56m 17s	$157K	$940K	10x
Short	Kraken Futures PF_PENDLEUSD	2.4416	−0.0395	pay 0.0049% / 1h	56m 17s	$122K	$252K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.118%Rate

Funding earned: −$66.11
Price spread: +0.118% → +0.230%: −$11.18
Slippage, 4 orders: −$128.39
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$220.69
Costs to cover: 1.434%
Break-even: never at this rate

Slippage from Extended: live order book, 55 min ago; Kraken Futures: live order book, 54 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, 55 min ago	1.03 bp	13.8 bp −$14	96.1 bp −$961	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 54 min ago	14.36 bp	63.5 bp −$63	doesn't fit	doesn't fit	doesn't fit

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
Deribit PENDLE_USDC-PERPETUAL	−0.0528%	1h	2.4398	+0.045%	$25K	$10K	10x	as long as short
Kraken Futures PF_PENDLEUSDshort	−0.0395%	1h	2.4416	+0.118%	$122K	$252K	20x
Binance PENDLEUSDT	−0.0080%	8h	2.4395	+0.031%	$25.4M	$46.2M	75x	as long as short
Extended PENDLE-USDlong	−0.0080%	1h	2.4387	long leg	$157K	$940K	10x
MEXC PENDLE_USDT	−0.0076%	8h	2.4401	+0.058%	$18.6M	$2.1M	125x	as long as short
BloFin PENDLE-USDT	−0.0064%	8h	2.4402	+0.062%	$1.1M	$521K	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4479	+0.379%	$10K	—	5x	as long as short
Aster PENDLEUSDT	+0.0001%	8h	2.4412	+0.103%	$51K	$166K	10x	as long as short
Orderly PERP_PENDLE_USDC	+0.0014%	8h	2.4396	+0.037%	$18K	$14K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0031%	8h	2.4451	+0.263%	$403K	$3.0M	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	+0.0055%	1h	2.4460	+0.300%	$74K	$231K	50x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4389	+0.008%	$26K	—	3x	as long as short
Variational Omni PENDLE	+0.0069%	8h	2.4444	+0.235%	$575K	$1.0M	—	as long as short
Reya PENDLERUSDPERP	+0.0096%	1h	2.4400	+0.055%	$3K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4419	+0.131%	$675K	$511K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4391	+0.018%	$34K	—	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4443	+0.230%	$13.0M	$6.0M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4391	+0.017%	$14.3M	$11.6M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4410	+0.095%	$3.1M	$6.8M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4430	+0.177%	$776K	$959K	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4451	+0.263%	$688K	$495K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4413	+0.107%	$3.8M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4407	+0.082%	—	$8.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4449	+0.256%	$23K	$369K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4430	+0.177%	$16K	$4K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4426	+0.160%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0184% / S −0.0207%	1h	2.4430	+0.175%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0479%	1h	2.4465	+0.320%	$365K	$417K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0680%	1h	2.4550	+0.669%	$168K	$538K	25x	as long as short
Injective PENDLE/USDC PERP	+0.3871%	1h	2.4660	+1.120%	$2K	$55K	5.5x	as long as short