PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.12 per $10,000 · paid last 24h −0.014%

Price spread now: Hyperliquid against GMX−0.003%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 Hyperliquid

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—+ Points / potential airdropHyperliquid: Season 2 · 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	GMX PENDLE/USD [PENDLE-USDC]	2.5175	L +0.0200% / S −0.0277%	pay 0.0025% / 1h	32m 33s	$5K	—	100x
Short	Hyperliquid PENDLE	2.5174	0.0100	get 0.0013% / 1h	32m 33s	$12.3M	$5.6M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.003%Rate

Funding earned: −$20.98
Price spread: −0.003% → 0.000%: −$0.25
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$42.24
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Hyperliquid: 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 GMX no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 10 min ago	0.20 bp	12.7 bp −$13	doesn't fit	doesn't fit	doesn't fit

GMX: 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	−0.4806%	1h	2.4860	−1.250%	$2K	$7K	5.5x	as long as short
Kraken Futures PF_PENDLEUSD	−0.0430%	1h	2.5205	+0.121%	$150K	$279K	20x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0227%	1h	2.5167	−0.030%	$30K	$10K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5179	+0.019%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0024%	8h	2.5124	−0.201%	$609K	$2.3M	—	as long as short
Reya PENDLERUSDPERP	+0.0035%	1h	2.5159	−0.061%	$4K	—	15x	as long as short
Orderly PERP_PENDLE_USDC	+0.0036%	8h	2.5172	−0.010%	$25K	$11K	10x	as long as short
BloFin PENDLE-USDT	+0.0042%	8h	2.5162	−0.050%	$1.3M	$745K	75x	as long as short
MEXC PENDLE_USDT	+0.0045%	8h	2.5144	−0.122%	$16.9M	$2.2M	125x	as long as short
Binance PENDLEUSDT	+0.0045%	8h	2.5142	−0.128%	$27.4M	$39.2M	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended PENDLE-USD	+0.0048%	1h	2.5133	−0.167%	$165K	$524K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0083%	1h	2.5192	+0.069%	$77K	$240K	50x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5153	−0.086%	$544K	$385K	5x	as long as short
Aevo PENDLE-PERP	+0.0096%	1h	2.5169	−0.023%	$26K	—	3x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5144	−0.120%	$35K	$22K	10x	as long as short
Hyperliquid PENDLEshort	+0.0100%	1h	2.5174	−0.003%	$12.3M	$5.6M	5x
Aster PENDLEUSDT	+0.0100%	8h	2.5152	−0.089%	$41K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5140	−0.138%	$15.6M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5150	−0.098%	$3.3M	$5.7M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5150	−0.098%	$845K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5156	−0.074%	$910K	$609K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5147	−0.110%	$3.7M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5149	−0.102%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5166	−0.036%	$25K	$412K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5180	+0.020%	$416K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5184	+0.037%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5168	−0.026%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]long	L +0.0200% / S −0.0277%	1h	2.5175	long leg	$5K	—	100x
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5220	+0.180%	$116K	$431K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0813%	1h	2.5208	+0.133%	$365K	$465K	15x	as long as short