PENDLE

Alert

After costs, if the gap returns to its 7d average, $10k−$60

spread now−0.082%7d average−0.123%fees + slippage, in and out−$64spread needed0.637%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid PENDLE	2.5581	0.0100	pay 0.0013% / 1h	57m 00s	$12.3M	$5.4M	5x
Short	OKX PENDLE-USDT-SWAP	2.5560	0.0100	get 0.0050% / 4h	1h 57m	$3.3M	$5.3M	50x

Price spread history

latest

Range statsloading…

share of time at each level, last 7D

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Position, each leg$Hold forhoursFee HyperliquidbpFee OKXbpOrdersClose when spread is

Slippage from Hyperliquid: live order book, 7 min ago; OKX: live order book, 2 min ago.

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, 7 min ago	2.16 bp	11.7 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	1.96 bp	18.3 bp −$18	95.3 bp −$953	doesn't fit	doesn't fit

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Injective PENDLE/USDC PERP	−1.177%	−0.4421%	1h	$2K	$7K	5.5x	as long as short
Variational Omni PENDLE	−0.327%	−0.0161%	8h	$657K	$2.3M	—	as long as short
ApeX Omni PENDLEUSDT	−0.258%	+0.0100%	1h	$78K	$237K	50x	as long as short
Gate PENDLE_USDT	−0.160%	+0.0100%	8h	$823K	$1.0M	75x	as long as short
Bybit PENDLEUSDT	−0.141%	+0.0100%	8h	$16.0M	$12.0M	50x	as long as short
Extended PENDLE-USD	−0.140%	+0.0064%	1h	$168K	$519K	10x	as long as short
dYdX PENDLE-USD	−0.132%	0.0000%	1h	$11K	—	5x	as long as short
Bitget PENDLEUSDT	−0.129%	+0.0100%	8h	$3.9M	$2.7M	75x	as long as short
BingX PENDLE-USDT	−0.113%	+0.0100%	8h	—	$34.2M	—	as long as short
Paradex PENDLE-USD-PERP	−0.103%	+0.0100%	8h	$36K	$28K	10x	as long as short

Show all 29 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
SunX PENDLE-USDT	−0.102%	+0.0100%	8h	$1K	$1.6M	20x	as long as short
KuCoin PENDLEUSDTM	−0.098%	+0.0100%	8h	$939K	$602K	50x	as long as short
OKX PENDLE-USDT-SWAPshort	−0.082%	+0.0100%	4h	$3.3M	$5.3M	50x
Binance PENDLEUSDT	−0.080%	+0.0061%	8h	$28.0M	$35.9M	75x	as long as short
MEXC PENDLE_USDT	−0.074%	+0.0057%	8h	$17.0M	$2.1M	125x	as long as short
BloFin PENDLE-USDT	−0.074%	+0.0077%	8h	$1.4M	$818K	75x	as long as short
Aster PENDLEUSDT	−0.061%	−0.0020%	8h	$51K	$138K	10x	as long as short
Lighter PENDLE	−0.043%	+0.0096%	1h	$559K	$357K	5x	as long as short
Aevo PENDLE-PERP	−0.034%	+0.0096%	1h	$27K	—	3x	as long as short
edgeX PENDLEUSDC	−0.017%	+0.0100%	4h	$25K	$414K	10x	as long as short
Hyperliquid PENDLElong	0.000%	+0.0100%	1h	$12.3M	$5.4M	5x
Orderly PERP_PENDLE_USDC	0.000%	+0.0045%	8h	$20K	$4K	10x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.000%	0.0000%	1h	$30K	$11K	10x	as long as short
Reya PENDLERUSDPERP	+0.007%	+0.0019%	1h	$4K	—	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.020%	+0.1427%	1h	$157K	$283K	20x	as long as short
Polymarket Perps PENDLE-USD	+0.027%	+0.0100%	1h	$16K	$30K	5x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	+0.030%	L +0.0200% / S −0.0272%	1h	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.035%	+0.0624%	1h	$117K	$464K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.121%	+0.0905%	1h	$376K	$461K	15x	as long as short