Spread before costs (cost unknown: a leg has no order-book sample)+1.492%
7d average—if it closes, per $10,000$149funding while held, a day+$131.31
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective PENDLE/USDC PERP | 2.5200 | −0.4277 | get 0.0535% / 1h | 0m 14s | $2K | $7K | 5.5x |
| Short | Hyperliquid PENDLE | 2.5576 | 0.0100 | get 0.0013% / 1h | 0m 14s | $12.3M | $5.4M | 5x |
Injective PENDLE/USDC PERP
Hyperliquid PENDLEPrice 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
- $149.21
- Funding while held
- $131.31
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $271.49
- Spread needed to break even
- 0.090%
Slippage unknown: Injective: no order-book sample; Hyperliquid: live order book, 4 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.4377%
- Per $10,000 a day
- +$131.31
- 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 Injective no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 4 min ago | 2.16 bp | 13.3 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
Injective: 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.Injective2.5200cheapest
ApeX Omni2.5415+0.853%edgeX2.5423+0.886%Variational Omni2.5497+1.180%Paradex2.5532+1.318%SunX2.5538+1.341%Gate2.5540+1.349%dYdX2.5543+1.359%Reya2.5543+1.362%Bitget2.5547+1.377%Aster2.5547+1.378%Extended2.5549+1.386%Bybit2.5550+1.389%BloFin2.5551+1.393%KuCoin2.5554+1.405%Aevo2.5556+1.411%Polymarket Perps2.5557+1.417%BingX2.5560+1.429%Binance2.5561+1.433%MEXC2.5564+1.444%GMX2.5564+1.445%Lighter2.5567+1.456%Orderly2.5567+1.456%OKX2.5570+1.468%Deribit2.5571+1.472%
ApeX Omni
Variational Omni
Paradex
SunX
Gate
dYdX
Reya
Bitget
Aster
Extended
Bybit
BloFin
KuCoin
Aevo
Polymarket Perps
BingX
Binance
MEXC
GMX
Lighter
Orderly
OKX
DeribitHyperliquid2.5576+1.492%
Kraken Futures2.5584+1.526%Coinbase International2.5590+1.548%Backpack2.5620+1.667%
Kraken Futures
Coinbase International
BackpackPENDLE on 29 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective PENDLE/USDC PERPlong | 0.000% | −0.4277% | 1h | $2K | $7K | 5.5x | |
| ApeX Omni PENDLEUSDT | +0.853% | +0.0100% | 1h | $78K | $237K | 50x | as long as short |
| edgeX PENDLEUSDC | +0.886% | +0.0100% | 4h | $25K | $417K | 10x | as long as short |
| Variational Omni PENDLE | +1.180% | −0.0161% | 8h | $657K | $2.3M | — | as long as short |
| Paradex PENDLE-USD-PERP | +1.318% | +0.0100% | 8h | $36K | $29K | 10x | as long as short |
| SunX PENDLE-USDT | +1.341% | +0.0100% | 8h | $2K | $1.6M | 20x | as long as short |
| Gate PENDLE_USDT | +1.349% | +0.0100% | 8h | $823K | $1.1M | 75x | as long as short |
| dYdX PENDLE-USD | +1.359% | 0.0000% | 1h | $11K | — | 5x | as long as short |
| Reya PENDLERUSDPERP | +1.362% | +0.0018% | 1h | $4K | — | 15x | as long as short |
| Bitget PENDLEUSDT | +1.377% | +0.0100% | 8h | $3.9M | $2.7M | 75x | as long as short |