Spread before costs (cost unknown: a leg has no order-book sample)−0.039%
7d average—if it closes, per $10,000$4funding while held, a day−$1.11
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid PENDLE | 2.5568 | 0.0100 | pay 0.0013% / 1h | 0m 52s | $12.3M | $5.4M | 5x |
| Short | Deribit PENDLE_USDC-PERPETUAL | 2.5558 | 0.0063 | get 0.0008% / 1h | 0m 52s | $30K | $11K | 10x |
Hyperliquid PENDLE
Deribit PENDLE_USDC-PERPETUALPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- −$3.91
- Funding while held
- −$1.11
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$21.02
- Spread needed to break even
- 0.160%
Slippage unknown: Hyperliquid: live order book, 3 min ago; Deribit: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0037%
- Per $10,000 a day
- −$1.11
- Average in range /8h
- —
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 Hyperliquid live order book, 3 min ago | 2.16 bp | 11.7 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
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 price on every exchange
against the cheapest. Click to use as the short leg.Injective2.5200cheapestApeX Omni2.5415+0.853%edgeX2.5423+0.886%Variational Omni2.5487+1.140%dYdX2.5498+1.181%Bitget2.5515+1.250%Paradex2.5517+1.259%Reya2.5527+1.296%Bybit2.5530+1.310%Extended2.5534+1.325%KuCoin2.5538+1.341%Polymarket Perps2.5538+1.341%Aevo2.5539+1.343%Gate2.5540+1.349%BingX2.5540+1.349%SunX2.5540+1.349%Binance2.5541+1.352%MEXC2.5542+1.357%Aster2.5543+1.361%GMX2.5543+1.362%Lighter2.5550+1.389%OKX2.5550+1.389%Coinbase International2.5550+1.389%Orderly2.5551+1.393%BloFin2.5551+1.393%
Injective
ApeX Omni
Variational Omni
dYdX
Bitget
Paradex
Reya
Bybit
Extended
KuCoin
Polymarket Perps
Aevo
Gate
BingX
SunX
Binance
MEXC
Aster
GMX
Lighter
OKX
Coinbase International
Orderly
BloFinDeribit2.5558+1.421%
Hyperliquid2.5568+1.460%
Kraken Futures2.5584+1.523%Backpack2.5600+1.587%
Kraken Futures
BackpackPENDLE on 29 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective PENDLE/USDC PERP | −1.439% | −0.4277% | 1h | $2K | $7K | 5.5x | as long as short |
| ApeX Omni PENDLEUSDT | −0.598% | +0.0100% | 1h | $78K | $237K | 50x | as long as short |
| edgeX PENDLEUSDC | −0.566% | +0.0100% | 4h | $25K | $417K | 10x | as long as short |
| Variational Omni PENDLE | −0.316% | −0.0166% | 8h | $659K | $2.3M | — | as long as short |
| dYdX PENDLE-USD | −0.276% | 0.0000% | 1h | $11K | — | 5x | as long as short |
| Bitget PENDLEUSDT | −0.207% | +0.0100% | 8h | $3.9M | $2.7M | 75x | as long as short |
| Paradex PENDLE-USD-PERP | −0.198% | +0.0100% | 8h | $36K | $29K | 10x | as long as short |
| Reya PENDLERUSDPERP | −0.162% | +0.0018% | 1h | $4K | — | 15x | as long as short |
| Bybit PENDLEUSDT | −0.149% | +0.0100% | 8h | $15.9M | $12.0M | 50x | as long as short |
| Extended PENDLE-USD | −0.133% | +0.0056% | 1h | $168K | $519K | 10x | as long as short |