PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0511%/8h= −56.0% APRnext payment −$0.64 per $10,000 · paid last 24h −0.075%

Price spread now: Deribit against GMX−0.055%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 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 against this trade now: funding costs −$15 a day on $10k at the current rate, and Deribit is 0.055% cheaper against GMX than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX PENDLE/USD [PENDLE-USDC]	2.4902	L +0.0199% / S −0.0256%	pay 0.0025% / 1h	25m 28s	$5K	—	100x
Short	Deribit PENDLE_USDC-PERPETUAL	2.4888	−0.0312	pay 0.0039% / 1h	25m 28s	$29K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against GMX. 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 GMXbpFee DeribitbpOrdersPrice spread, now −0.055%Rate

Funding earned: −$107.38
Price spread: −0.055% → 0.000%: −$5.55
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$131.93
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Deribit: no order-book sample. 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 GMX no order-book sample	—	—	—	—	—
Sell Deribit no order-book sample	—	—	—	—	—

GMX and Deribit: 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	−0.3656%	1h	2.4770	−0.529%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUALshort	−0.0312%	1h	2.4888	−0.055%	$29K	$10K	10x
ApeX Omni PENDLEUSDT	−0.0108%	1h	2.4910	+0.033%	$76K	$239K	50x	as long as short
BloFin PENDLE-USDT	−0.0002%	8h	2.4904	+0.009%	$1.3M	$736K	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4907	+0.022%	$10K	—	5x	as long as short
MEXC PENDLE_USDT	+0.0005%	8h	2.4889	−0.051%	$16.8M	$2.1M	125x	as long as short
Binance PENDLEUSDT	+0.0006%	8h	2.4893	−0.035%	$26.9M	$40.7M	75x	as long as short
Extended PENDLE-USD	+0.0008%	1h	2.4875	−0.107%	$164K	$526K	10x	as long as short
Orderly PERP_PENDLE_USDC	+0.0021%	8h	2.4885	−0.068%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0041%	1h	2.4897	−0.019%	$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	0.000%	$550K	$2.0M	—	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.4891	−0.041%	$26K	—	3x	as long as short
GRVT PENDLE_USDT_Perp	+0.0085%	8h	2.4901	−0.005%	$414K	$1.6M	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4897	−0.019%	$524K	$423K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4889	−0.052%	$35K	$20K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4936	+0.137%	$12.3M	$6.0M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4894	−0.030%	$43K	$176K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4900	−0.007%	$15.3M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4920	+0.073%	$3.2M	$5.9M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4880	−0.088%	$780K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4885	−0.068%	$889K	$613K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4891	−0.043%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4890	−0.047%	—	$36.2M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4897	−0.020%	$25K	$395K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4922	+0.081%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4895	−0.027%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]long	L +0.0199% / S −0.0256%	1h	2.4902	long leg	$5K	—	100x
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.5000	+0.394%	$139K	$461K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0658%	1h	2.4935	+0.133%	$352K	$474K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0755%	1h	2.4959	+0.229%	$120K	$304K	20x	as long as short