PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0557%/8h= +61.0% APRnext payment +$0.70 per $10,000 · paid last 24h +0.320%

Price spread now: Kraken Futures against GMX+0.105%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Kraken Futures

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 for this trade now. Funding pays +$17 a day on $10k at the current rate, and Kraken Futures is 0.105% dearer against GMX than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX PENDLE/USD [PENDLE-USDC]	2.4870	L +0.0199% / S −0.0256%	pay 0.0025% / 1h	7m 29s	$5K	—	100x
Short	Kraken Futures PF_PENDLEUSD	2.4897	0.0757	get 0.0095% / 1h	7m 29s	$118K	$306K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.105%Rate

Funding earned: $117.07
Price spread: +0.105% → 0.000%: $10.5
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $105.57
Costs to cover: 0.220%
Break-even: 0.7 days

Slippage unknown: GMX: no order-book sample; Kraken Futures: 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 Kraken Futures live order book, 10 min ago	14.06 bp	53.4 bp −$53	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	−0.3656%	1h	2.4770	−0.404%	$2K	$53K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0353%	1h	2.4858	−0.050%	$29K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0077%	1h	2.4879	+0.034%	$76K	$239K	50x	as long as short
BloFin PENDLE-USDT	−0.0035%	8h	2.4871	+0.002%	$1.3M	$742K	75x	as long as short
Binance PENDLEUSDT	−0.0017%	8h	2.4904	+0.135%	$26.8M	$41.2M	75x	as long as short
Extended PENDLE-USD	−0.0016%	1h	2.4861	−0.037%	$164K	$526K	10x	as long as short
MEXC PENDLE_USDT	−0.0015%	8h	2.4902	+0.127%	$16.8M	$2.1M	125x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4873	+0.008%	$10K	—	5x	as long as short
Orderly PERP_PENDLE_USDC	+0.0012%	8h	2.4900	+0.119%	$19K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0042%	1h	2.4916	+0.185%	$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	+0.0058%	8h	2.4827	−0.176%	$550K	$2.0M	—	as long as short
GRVT PENDLE_USDT_Perp	+0.0059%	8h	2.4871	+0.002%	$413K	$1.6M	10x	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.4844	−0.106%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4867	−0.014%	$525K	$426K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4860	−0.040%	$35K	$20K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4944	+0.296%	$12.3M	$6.0M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4874	+0.016%	$44K	$176K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4900	+0.119%	$15.3M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4930	+0.239%	$3.2M	$5.9M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.4850	−0.082%	$780K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4888	+0.070%	$888K	$596K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4882	+0.046%	$3.7M	$2.7M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4905	+0.139%	—	$36.2M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4840	−0.123%	$25K	$396K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4937	+0.268%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4870	−0.002%	$2K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]long	L +0.0199% / S −0.0256%	1h	2.4870	long leg	$5K	—	100x
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.4930	+0.239%	$139K	$460K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0636%	1h	2.4887	+0.066%	$351K	$474K	15x	as long as short
Kraken Futures PF_PENDLEUSDshort	+0.0757%	1h	2.4897	+0.105%	$118K	$306K	20x