PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0088%/8h= +9.6% APRnext payment +$0.11 per $10,000 · paid last 24h +0.002%

Price spread now: Lighter against Extended+0.116%7-day average +0.097% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$530.530% of the position

Long on Extended Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 4 days (all we have)+0.029%+$3 · spread now +0.116%, 7d avg +0.097%

Together, before fees+0.066%+ Points / potential airdropExtended: Active · Lighter: Season 3 · farm board+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.097%, 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	Extended PENDLE-USD	2.4845	0.0008	pay 0.0001% / 1h	26m 33s	$164K	$526K	10x
Short	Lighter PENDLE	2.4874	0.0096	get 0.0012% / 1h	26m 33s	$523K	$423K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.116%Rate

Funding earned: $18.48
Price spread: +0.116% → +0.097%: $1.92
Slippage, 4 orders: −$48.03
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Lighter: 0 bp × 2 orders: $0
Net: −$32.63
Costs to cover: 0.530%
Break-even: 19.4 days

Slippage from Extended: live order book, 56 min ago; Lighter: live order book, 49 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, 56 min ago	0.99 bp	13.6 bp −$14	110.6 bp −$1,106	doesn't fit	doesn't fit
Sell Lighter live order book, 49 min ago	10.75 bp	11.3 bp −$11	112.8 bp −$1,128	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	−0.3656%	1h	2.4770	−0.302%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0352%	1h	2.4905	+0.241%	$29K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0108%	1h	2.4910	+0.261%	$76K	$239K	50x	as long as short
BloFin PENDLE-USDT	−0.0002%	8h	2.4904	+0.237%	$1.3M	$736K	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4887	+0.168%	$10K	—	5x	as long as short
Binance PENDLEUSDT	+0.0006%	8h	2.4886	+0.164%	$26.9M	$40.7M	75x	as long as short
Extended PENDLE-USDlong	+0.0008%	1h	2.4845	long leg	$164K	$526K	10x
MEXC PENDLE_USDT	+0.0008%	8h	2.4870	+0.100%	$16.8M	$2.1M	125x	as long as short
Orderly PERP_PENDLE_USDC	+0.0022%	8h	2.4899	+0.217%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0040%	1h	2.4885	+0.161%	$4K	—	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PENDLE	+0.0062%	8h	2.4902	+0.228%	$550K	$2.0M	—	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.4893	+0.193%	$26K	—	3x	as long as short
GRVT PENDLE_USDT_Perp	+0.0085%	8h	2.4901	+0.223%	$414K	$1.6M	10x	as long as short
Lighter PENDLEshort	+0.0096%	1h	2.4874	+0.116%	$523K	$423K	5x
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4848	+0.013%	$35K	$20K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4931	+0.346%	$12.3M	$5.9M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4882	+0.148%	$43K	$175K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4851	+0.024%	$15.3M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4870	+0.100%	$3.2M	$5.8M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4890	+0.181%	$781K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4919	+0.297%	$891K	$613K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4838	−0.029%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4864	+0.076%	—	$36.2M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4897	+0.208%	$25K	$395K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4927	+0.329%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4914	+0.277%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.4908	+0.252%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5000	+0.623%	$139K	$461K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0667%	1h	2.4946	+0.406%	$354K	$473K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0755%	1h	2.4945	+0.400%	$121K	$304K	20x	as long as short