PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.4343%/8h= +475.6% APRnext payment +$5.43 per $10,000 · paid last 24h +0.815%

Price spread now: Polymarket Perps against Injective+1.215%51s7-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 Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+1.119%+$112 on $10k

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 +$130 a day on $10k at the current rate, and Polymarket Perps is 1.215% dearer against Injective than usual: you sell high and buy low: +$121 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.119% in total (about 58.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$5.43 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective PENDLE/USDC PERP	2.4370	−0.4243	get 0.0530% / 1h	51m 35s	$2K	$54K	5.5x
Short	Polymarket Perps PENDLE-USD	2.4666	0.0100	get 0.0013% / 1h	51m 35s	$16K	$7K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +1.215%Rate

Funding earned: $912.07
Price spread: +1.215% → 0.000%: $121.46
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $1,025.51
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Polymarket Perps: 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 Polymarket Perps no order-book sample	—	—	—	—	—

Injective and Polymarket Perps: 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	−0.4243%	1h	2.4370	long leg	$2K	$54K	5.5x
ApeX Omni PENDLEUSDT	−0.0402%	1h	2.4639	+1.104%	$75K	$235K	50x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0318%	1h	2.4651	+1.153%	$25K	$14K	10x	as long as short
BloFin PENDLE-USDT	−0.0083%	8h	2.4651	+1.153%	$1.1M	$596K	75x	as long as short
Gate PENDLE_USDT	−0.0070%	8h	2.4630	+1.067%	$716K	$1.1M	75x	as long as short
Extended PENDLE-USD	−0.0064%	1h	2.4606	+0.970%	$159K	$576K	10x	as long as short
Binance PENDLEUSDT	−0.0061%	8h	2.4616	+1.009%	$26.1M	$43.6M	75x	as long as short
MEXC PENDLE_USDT	−0.0060%	8h	2.4618	+1.018%	$17.4M	$1.9M	125x	as long as short
Aster PENDLEUSDT	−0.0045%	8h	2.4646	+1.133%	$47K	$171K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0041%	8h	2.4648	+1.141%	$19K	$15K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENDLE-USD	0.0000%	1h	2.4656	+1.173%	$10K	—	5x	as long as short
GRVT PENDLE_USDT_Perp	+0.0049%	8h	2.4655	+1.168%	$413K	$1.9M	10x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4616	+1.009%	$26K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0067%	1h	2.4644	+1.126%	$3K	—	15x	as long as short
Variational Omni PENDLE	+0.0070%	8h	2.4586	+0.885%	$552K	$1.4M	—	as long as short
Lighter PENDLE	+0.0096%	1h	2.4629	+1.063%	$516K	$428K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4607	+0.974%	$34K	$11K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4630	+1.067%	$14.5M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4640	+1.108%	$3.1M	$6.3M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4653	+1.161%	$885K	$550K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4624	+1.042%	$3.7M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4631	+1.071%	—	$8.5M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4631	+1.071%	$24K	$376K	10x	as long as short
Polymarket Perps PENDLE-USDshort	+0.0100%	1h	2.4666	+1.215%	$16K	$7K	5x
SunX PENDLE-USDT	+0.0100%	8h	2.4658	+1.182%	$2K	$1.8M	20x	as long as short
Hyperliquid PENDLE	+0.0175%	1h	2.4666	+1.215%	$12.8M	$6.0M	5x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4655	+1.171%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0507%	1h	2.4679	+1.268%	$358K	$399K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0640%	1h	2.4660	+1.190%	$147K	$496K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1180%	1h	2.4682	+1.282%	$115K	$268K	20x	as long as short