Settings8H · net · $10k
Funding arb · Price arb /

PENDLE

all PENDLE markets
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Alert: funding
Alert: spread
Funding you earn now, next payment 05:00 UTC−0.1084%/8h= −118.7% APRpaid last 24h −0.289%
Price spread now: BingX against Kraken Futures−0.197%7-day average −0.177% · you buy dearer than you sell
Net, funding: paid 7d − costs−$172as in the Funding arb table
Net, price: spread back to 7d avg − costs−$148as in the Price arb table
costs, in and out, $10k−$1461.460% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days−0.258%−$26 on $10k
Price spread, last 4 days (all we have)+0.194%+$19 · spread now −0.197%, 7d avg −0.177%
Together, before fees−0.065%−$6 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.177%, so right now this pair is about funding alone: −$33 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.258% in total (about -13.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKraken Futures PF_PENDLEUSD2.45900.1184pay 0.0148% / 1h26m 57s$115K$269K20x
ShortBingX PENDLE-USDT2.45420.0100get 0.0100% / 8h3h 26m$8.4M

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BingX 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 it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$227.64
Price spread: −0.197% → −0.177%
−$1.97
Slippage, 4 orders
−$126.04
Fee Kraken Futures: 5 bp × 2 orders
−$10
Fee BingX: 5 bp × 2 orders
−$10
Net
−$375.64
Costs to cover
1.460%
Break-even
never at this rate
Slippage from Kraken Futures: live order book, 26 min ago; BingX: live order book, 11 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Kraken Futures live order book, 26 min ago14.20 bp76.2 bp −$76doesn't fitdoesn't fitdoesn't fit
Sell BingX live order book, 11 min ago3.25 bp11.6 bp −$1223.2 bp −$232127.7 bp −$12.8K407.2 bp −$203.6K

PENDLE on 30 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective PENDLE/USDC PERP−0.4243%1h2.4320−1.100%$2K$54K5.5xas long as short
Deribit PENDLE_USDC-PERPETUAL−0.0402%1h2.4538−0.213%$25K$14K10xas long as short
ApeX Omni PENDLEUSDT−0.0129%1h2.4570−0.083%$75K$234K50xas long as short
Gate PENDLE_USDT−0.0066%8h2.4550−0.164%$718K$1.1M75xas long as short
Binance PENDLEUSDT−0.0058%8h2.4530−0.246%$26.0M$44.2M75xas long as short
MEXC PENDLE_USDT−0.0057%8h2.4531−0.242%$17.4M$2.0M125xas long as short
Extended PENDLE-USD−0.0056%1h2.4523−0.273%$158K$581K10xas long as short
BloFin PENDLE-USDT−0.0055%8h2.4519−0.290%$1.1M$595K75xas long as short
Orderly PERP_PENDLE_USDC−0.0041%8h2.4530−0.246%$19K$15K10xas long as short
dYdX PENDLE-USD0.0000%1h2.4563−0.113%$10K5xas long as short
Show all 30 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster PENDLEUSDT+0.0004%8h2.4607+0.067%$47K$172K10xas long as short
GRVT PENDLE_USDT_Perp+0.0040%8h2.4548−0.172%$405K$2.0M10xas long as short
Variational Omni PENDLE+0.0063%8h2.4581−0.040%$551K$1.4Mas long as short
Aevo PENDLE-PERP+0.0064%1h2.4524−0.268%$26K3xas long as short
Reya PENDLERUSDPERP+0.0069%1h2.4534−0.230%$3K15xas long as short
Lighter PENDLE+0.0096%1h2.4540−0.205%$515K$428K5xas long as short
Paradex PENDLE-USD-PERP+0.0100%8h2.4528−0.252%$34K$11K10xas long as short
Bybit PENDLEUSDT+0.0100%8h2.4521−0.282%$14.4M$12.1M50xas long as short
OKX PENDLE-USDT-SWAP+0.0100%4h2.4530−0.246%$3.1M$6.4M50xas long as short
KuCoin PENDLEUSDTM+0.0100%8h2.4570−0.083%$886K$552K50xas long as short
Bitget PENDLEUSDT+0.0100%8h2.4535−0.225%$3.7M$2.3M75xas long as short
BingX PENDLE-USDTshort+0.0100%8h2.4542−0.197%$8.4M
edgeX PENDLEUSDC+0.0100%4h2.4536−0.221%$24K$374K10xas long as short
Polymarket Perps PENDLE-USD+0.0100%1h2.4556−0.140%$16K$7K5xas long as short
SunX PENDLE-USDT+0.0100%8h2.4549−0.168%$2K$1.8M20xas long as short
Hyperliquid PENDLE+0.0178%1h2.4586−0.018%$12.7M$6.1M5xas long as short
GMX PENDLE/USD [PENDLE-USDC]L +0.0196% / S −0.0222%1h2.4544−0.187%$5K100xas long as short
Coinbase International PENDLE-PERP-INTX+0.0640%1h2.4600+0.039%$146K$500K25xas long as short
Backpack PENDLE_USDC_PERP+0.0690%1h2.4583−0.030%$357K$400K15xas long as short
Kraken Futures PF_PENDLEUSDlong+0.1184%1h2.4590long leg$115K$269K20x