After costs, if the gap returns to its 7d average, $10k−$123
spread now+0.226%7d average+0.044%fees + slippage, in and out−$141spread needed1.412%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid PENDLE | 2.5558 | 0.0100 | pay 0.0013% / 1h | 36m 15s | $12.3M | $5.3M | 5x |
| Short | Kraken Futures PF_PENDLEUSD | 2.5616 | 0.2119 | get 0.0265% / 1h | 36m 15s | $156K | $269K | 20x |
Hyperliquid PENDLE
Kraken Futures PF_PENDLEUSDPrice 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
- $22.59
- Funding while held
- $60.58
- Slippage, 4 orders
- −$122.22
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$58.05
- Spread needed to break even
- 1.412%
Slippage from Hyperliquid: live order book, 8 min ago; Kraken Futures: live order book, 3 min ago.
Cost of waiting
funding view- Funding /8h
- +0.2019%
- Per $10,000 a day
- +$60.58
- 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, 8 min ago | 2.54 bp | 15.9 bp −$16 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 3 min ago | 5.88 bp | 40.1 bp −$40 | doesn't fit | doesn't fit | doesn't fit |
PENDLE price on every exchange
against the cheapest. Click to use as the short leg.Injective2.5110cheapestApeX Omni2.5412+1.203%edgeX2.5418+1.227%Variational Omni2.5496+1.539%Aster2.5509+1.590%Gate2.5510+1.593%Paradex2.5519+1.628%dYdX2.5520+1.634%Aevo2.5529+1.668%Reya2.5529+1.669%Extended2.5532+1.683%BingX2.5533+1.685%KuCoin2.5538+1.705%Orderly2.5539+1.708%Bybit2.5540+1.712%Polymarket Perps2.5540+1.712%BloFin2.5543+1.724%Deribit2.5545+1.732%GMX2.5547+1.739%Bitget2.5547+1.740%Lighter2.5553+1.764%Binance2.5554+1.767%MEXC2.5556+1.776%
Injective
ApeX Omni
Variational Omni
Aster
Gate
Paradex
dYdX
Aevo
Reya
Extended
BingX
KuCoin
Orderly
Bybit
Polymarket Perps
BloFin
Deribit
GMX
Bitget
Lighter
Binance
MEXCHyperliquid2.5558+1.785%
OKX2.5570+1.832%SunX2.5580+1.872%Coinbase International2.5580+1.872%Backpack2.5583+1.884%
OKX
SunX
Coinbase International
BackpackKraken Futures2.5616+2.015%
PENDLE on 29 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective PENDLE/USDC PERP | −1.753% | −0.4277% | 1h | $2K | $7K | 5.5x | as long as short |
| ApeX Omni PENDLEUSDT | −0.572% | +0.0100% | 1h | $78K | $238K | 50x | as long as short |
| edgeX PENDLEUSDC | −0.548% | +0.0100% | 4h | $25K | $416K | 10x | as long as short |
| Variational Omni PENDLE | −0.242% | −0.0235% | 8h | $663K | $2.2M | — | as long as short |
| Aster PENDLEUSDT | −0.191% | −0.0029% | 8h | $51K | $133K | 10x | as long as short |
| Gate PENDLE_USDT | −0.188% | +0.0092% | 8h | $819K | $1.1M | 75x | as long as short |
| Paradex PENDLE-USD-PERP | −0.154% | +0.0100% | 8h | $36K | $29K | 10x | as long as short |
| dYdX PENDLE-USD | −0.148% | 0.0000% | 1h | $11K | — | 5x | as long as short |
| Aevo PENDLE-PERP | −0.115% | +0.0096% | 1h | $27K | — | 3x | as long as short |
| Reya PENDLERUSDPERP | −0.114% | +0.0016% | 1h | $4K | — | 15x | as long as short |