PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.4422%/8h= +484.3% APRnext payment +$5.53 per $10,000 · paid last 24h +0.299%

Price spread now: Deribit against Injective+0.968%7-day average — · you sell dearer than you buy

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

Long on Injective Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 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 +$133 a day on $10k at the current rate, and Deribit is 0.968% dearer against Injective than usual: you sell high and buy low: +$97 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	Injective PENDLE/USDC PERP	2.4990	−0.4806	get 0.0601% / 1h	21m 00s	$2K	$7K	5.5x
Short	Deribit PENDLE_USDC-PERPETUAL	2.5232	−0.0384	pay 0.0048% / 1h	21m 00s	$30K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Injective. 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 InjectivebpFee DeribitbpOrdersPrice spread, now +0.968%Rate

Funding earned: $928.72
Price spread: +0.968% → 0.000%: $96.84
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $1,018.54
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Deribit: 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 Injective no order-book sample	—	—	—	—	—
Sell Deribit no order-book sample	—	—	—	—	—

Injective and 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 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 PERPlong	−0.4806%	1h	2.4990	long leg	$2K	$7K	5.5x
Kraken Futures PF_PENDLEUSD	−0.0428%	1h	2.5299	+1.236%	$150K	$279K	20x	as long as short
Deribit PENDLE_USDC-PERPETUALshort	−0.0384%	1h	2.5232	+0.968%	$30K	$10K	10x
dYdX PENDLE-USD	0.0000%	1h	2.5278	+1.151%	$11K	—	5x	as long as short
Orderly PERP_PENDLE_USDC	+0.0035%	8h	2.5232	+0.968%	$25K	$11K	10x	as long as short
Reya PENDLERUSDPERP	+0.0036%	1h	2.5244	+1.016%	$4K	—	15x	as long as short
Variational Omni PENDLE	+0.0043%	8h	2.5289	+1.197%	$611K	$2.3M	—	as long as short
Binance PENDLEUSDT	+0.0056%	8h	2.5232	+0.969%	$27.5M	$39.3M	75x	as long as short
Extended PENDLE-USD	+0.0056%	1h	2.5221	+0.925%	$166K	$524K	10x	as long as short
MEXC PENDLE_USDT	+0.0057%	8h	2.5224	+0.936%	$17.0M	$2.3M	125x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin PENDLE-USDT	+0.0082%	8h	2.5243	+1.012%	$1.3M	$747K	75x	as long as short
ApeX Omni PENDLEUSDT	+0.0094%	1h	2.5272	+1.128%	$77K	$240K	50x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5240	+1.000%	$548K	$396K	5x	as long as short
Aevo PENDLE-PERP	+0.0096%	1h	2.5235	+0.982%	$26K	—	3x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5257	+1.067%	$35K	$22K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5273	+1.132%	$12.4M	$5.6M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5254	+1.058%	$41K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5218	+0.912%	$15.6M	$12.2M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5240	+1.000%	$3.3M	$5.7M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5240	+1.000%	$842K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5266	+1.104%	$919K	$611K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5251	+1.044%	$3.8M	$2.6M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5237	+0.988%	—	$36.3M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5273	+1.134%	$25K	$411K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.5266	+1.106%	$426K	$1.6M	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5276	+1.144%	$16K	$19K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5282	+1.168%	$1K	$1.7M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0277%	1h	2.5246	+1.026%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0560%	1h	2.5360	+1.481%	$117K	$434K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0845%	1h	2.5286	+1.184%	$365K	$465K	15x	as long as short