Funding you earn now, next payment 10:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h −0.315%
Price spread now: Binance against Kraken Futures−0.132%7-day average −0.146% · you buy dearer than you sell
Net, funding: paid 7d − costs−$176as in the Funding arb table
Net, price: spread back to 7d avg − costs−$135as in the Price arb table
costs, in and out, $10k−$1361.361% of the position
Funding, last 7 days−0.396%−$40 on $10k
+Price spread, last 4 days (all we have)+0.133%+$13 · spread now −0.132%, 7d avg −0.146%
=| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_PENDLEUSD | 2.4405 | −0.0077 | get 0.0010% / 1h | 18m 32s | $121K | $252K | 20x |
| Short | Binance PENDLEUSDT | 2.4373 | −0.0076 | pay 0.0076% / 8h | 6h 18m | $25.5M | $46.6M | 75x |
Kraken Futures PF_PENDLEUSD
Binance PENDLEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Kraken Futures. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $0.2
- Price spread: −0.132% → −0.146%
- $1.48
- Slippage, 4 orders
- −$116.1
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$134.41
- Costs to cover
- 1.361%
- Break-even
- 4608.6 days
Slippage from Kraken Futures: live order book, 32 min ago; Binance: live order book, 2 min ago.
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 Kraken Futures live order book, 32 min ago | 14.36 bp | 52.2 bp −$52 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 2 min ago | 0.41 bp | 9.8 bp −$10 | 24.9 bp −$249 | doesn't fit | doesn't fit |
PENDLE on 30 exchanges
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 PERP | −0.5000% | 1h | 2.4660 | +1.044% | $2K | $55K | 5.5x | as long as short |
| BloFin PENDLE-USDT | −0.0096% | 8h | 2.4381 | −0.099% | $1.1M | $517K | 75x | as long as short |
| Extended PENDLE-USD | −0.0080% | 1h | 2.4370 | −0.145% | $162K | $936K | 10x | as long as short |
| Kraken Futures PF_PENDLEUSDlong | −0.0077% | 1h | 2.4405 | long leg | $121K | $252K | 20x | |
| Binance PENDLEUSDTshort | −0.0076% | 8h | 2.4373 | −0.132% | $25.5M | $46.6M | 75x | |
| MEXC PENDLE_USDT | −0.0076% | 8h | 2.4378 | −0.111% | $18.5M | $2.2M | 125x | as long as short |
| ApeX Omni PENDLEUSDT | −0.0058% | 1h | 2.4386 | −0.078% | $74K | $231K | 50x | as long as short |
| GRVT PENDLE_USDT_Perp | −0.0001% | 8h | 2.4406 | +0.002% | $403K | $2.9M | 10x | as long as short |
| dYdX PENDLE-USD | 0.0000% | 1h | 2.4400 | −0.021% | $10K | — | 5x | as long as short |
| Deribit PENDLE_USDC-PERPETUAL | 0.0000% | 1h | 2.4389 | −0.066% | $25K | $12K | 10x | as long as short |
Injective PENDLE/USDC PERP
BloFin PENDLE-USDT
Extended PENDLE-USD
MEXC PENDLE_USDT
ApeX Omni PENDLEUSDT
GRVT PENDLE_USDT_Perp
dYdX PENDLE-USD
Deribit PENDLE_USDC-PERPETUALShow all 30 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_PENDLE_USDC | +0.0009% | 8h | 2.4374 | −0.128% | $18K | $14K | 10x | as long as short |
| Aster PENDLEUSDT | +0.0015% | 8h | 2.4403 | −0.007% | $50K | $167K | 10x | as long as short |
| Aevo PENDLE-PERP | +0.0064% | 1h | 2.4371 | −0.142% | $25K | — | 3x | as long as short |
| Variational Omni PENDLE | +0.0076% | 8h | 2.4355 | −0.205% | $573K | $1.1M | — | as long as short |
| Reya PENDLERUSDPERP | +0.0094% | 1h | 2.4382 | −0.095% | $3K | — | 15x | as long as short |
| Lighter PENDLE | +0.0096% | 1h | 2.4402 | −0.013% | $656K | $512K | 5x | as long as short |
| Paradex PENDLE-USD-PERP | +0.0100% | 8h | 2.4359 | −0.190% | $34K | $1K | 10x | as long as short |
| Bybit PENDLEUSDT | +0.0100% | 8h | 2.4352 | −0.218% | $14.2M | $11.6M | 50x | as long as short |
| OKX PENDLE-USDT-SWAP | +0.0100% | 4h | 2.4370 | −0.144% | $3.1M | $6.8M | 50x | as long as short |
| Gate PENDLE_USDT | +0.0100% | 8h | 2.4380 | −0.103% | $771K | $967K | 75x | as long as short |
| KuCoin PENDLEUSDTM | +0.0100% | 8h | 2.4407 | +0.008% | $685K | $502K | 50x | as long as short |
| Bitget PENDLEUSDT | +0.0100% | 8h | 2.4385 | −0.082% | $3.8M | $2.4M | 75x | as long as short |
| BingX PENDLE-USDT | +0.0100% | 8h | 2.4373 | −0.132% | — | $8.3M | — | as long as short |
| edgeX PENDLEUSDC | +0.0100% | 4h | 2.4388 | −0.071% | $23K | $369K | 10x | as long as short |
| Polymarket Perps PENDLE-USD | +0.0100% | 1h | 2.4412 | +0.028% | $16K | $4K | 5x | as long as short |
| SunX PENDLE-USDT | +0.0100% | 8h | 2.4385 | −0.082% | $2K | $1.8M | 20x | as long as short |
| GMX PENDLE/USD [PENDLE-USDC] | L +0.0184% / S −0.0207% | 1h | 2.4380 | −0.101% | $5K | — | 100x | as long as short |
| Hyperliquid PENDLE | +0.0436% | 1h | 2.4436 | +0.126% | $13.0M | $6.0M | 5x | as long as short |
| Backpack PENDLE_USDC_PERP | +0.0629% | 1h | 2.4426 | +0.086% | $365K | $420K | 15x | as long as short |
| Coinbase International PENDLE-PERP-INTX | +0.0728% | 1h | 2.4400 | −0.021% | $166K | $538K | 25x | as long as short |
Orderly PERP_PENDLE_USDC
Aster PENDLEUSDT
Aevo PENDLE-PERP
Variational Omni PENDLE
Reya PENDLERUSDPERP
Lighter PENDLE
Paradex PENDLE-USD-PERP
Bybit PENDLEUSDT
OKX PENDLE-USDT-SWAP
Gate PENDLE_USDT
KuCoin PENDLEUSDTM
Bitget PENDLEUSDT
BingX PENDLE-USDT
edgeX PENDLEUSDC
Polymarket Perps PENDLE-USD
SunX PENDLE-USDT
GMX PENDLE/USD [PENDLE-USDC]
Hyperliquid PENDLE
Backpack PENDLE_USDC_PERP
Coinbase International PENDLE-PERP-INTX