PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0122%/8h= +13.3% APRnext payment +$0.15 per $10,000 · paid last 24h +0.020%

Price spread now: GMX against Hyperliquid−0.123%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on GMX

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

Funding pays, the price is against you. GMX is 0.123% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.123% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 3.4 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid PENDLE	2.4551	0.0100	pay 0.0013% / 1h	37m 22s	$12.8M	$6.1M	5x
Short	GMX PENDLE/USD [PENDLE-USDC]	2.4521	L +0.0196% / S −0.0222%	get 0.0028% / 1h	37m 22s	$5K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Hyperliquid. 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 HyperliquidbpFee GMXbpOrdersPrice spread, now −0.123%Rate

Funding earned: $25.56
Price spread: −0.123% → 0.000%: −$12.32
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: −$7.76
Costs to cover: 0.210%
Break-even: 9.1 days

Slippage unknown: Hyperliquid: live order book, 5 min ago; GMX: 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 Hyperliquid live order book, 5 min ago	1.22 bp	11.1 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	−0.4348%	1h	2.4250	−1.226%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0117%	1h	2.4495	−0.228%	$25K	$16K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0029%	8h	2.4494	−0.232%	$19K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4510	−0.167%	$10K	—	5x	as long as short
Gate PENDLE_USDT	+0.0003%	8h	2.4490	−0.248%	$747K	$1.0M	75x	as long as short
BloFin PENDLE-USDT	+0.0010%	8h	2.4509	−0.171%	$1.1M	$498K	75x	as long as short
MEXC PENDLE_USDT	+0.0038%	8h	2.4507	−0.179%	$17.5M	$2.0M	125x	as long as short
Binance PENDLEUSDT	+0.0038%	8h	2.4503	−0.194%	$25.9M	$45.2M	75x	as long as short
Extended PENDLE-USD	+0.0040%	1h	2.4488	−0.258%	$160K	$568K	10x	as long as short
Reya PENDLERUSDPERP	+0.0078%	1h	2.4512	−0.159%	$3K	—	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PENDLE-PERP	+0.0088%	1h	2.4486	−0.264%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4510	−0.167%	$519K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4495	−0.227%	$34K	$7K	10x	as long as short
Hyperliquid PENDLElong	+0.0100%	1h	2.4551	long leg	$12.8M	$6.1M	5x
Aster PENDLEUSDT	+0.0100%	8h	2.4501	−0.204%	$47K	$169K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4500	−0.208%	$14.3M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4500	−0.208%	$3.1M	$6.6M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4509	−0.171%	$873K	$561K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4511	−0.163%	$3.8M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4502	−0.200%	—	$8.4M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4471	−0.327%	$565K	$1.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4497	−0.219%	$24K	$371K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.4490	−0.248%	$404K	$2.3M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4503	−0.196%	$75K	$233K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4531	−0.081%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4521	−0.122%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]short	L +0.0196% / S −0.0222%	1h	2.4521	−0.123%	$5K	—	100x
Backpack PENDLE_USDC_PERP	+0.0501%	1h	2.4546	−0.020%	$351K	$434K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0688%	1h	2.4560	+0.037%	$159K	$511K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1660%	1h	2.4552	+0.003%	$115K	$262K	20x	as long as short