Funding you earn now, next payment 01:00 UTC−0.0516%/8h= −56.5% APRpaid last 24h −0.332%
Price spread now: BingX against Kraken Futures−0.186%7-day average −0.167% · you buy dearer than you sell
Net, funding: paid 7d − costs−$181as in the Funding arb table
Net, price: spread back to 7d avg − costs−$161as in the Price arb table
costs, in and out, $10k−$1591.588% of the position
Funding, last 7 days−0.227%−$23 on $10k
+Price spread, last 3 days (all we have)+0.194%+$19 · spread now −0.186%, 7d avg −0.167%
=The price spread sits at its 7-day average of −0.167%, so right now this pair is about funding alone: −$15 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 -0.227% in total (about -11.8% 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.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_PENDLEUSD | 2.5297 | 0.0616 | pay 0.0077% / 1h | 55m 43s | $119K | $298K | 20x |
| Short | BingX PENDLE-USDT | 2.5250 | 0.0100 | get 0.0100% / 8h | 7h 55m | — | $35.7M | — |
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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$108.28
- Price spread: −0.186% → −0.167%
- −$1.86
- Slippage, 4 orders
- −$138.79
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$268.93
- Costs to cover
- 1.588%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 17 min ago; BingX: live order book, 3 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, 17 min ago | 13.91 bp | 83.1 bp −$83 | doesn't fit | doesn't fit | doesn't fit |
| Sell BingX live order book, 3 min ago | 4.56 bp | 13.2 bp −$13 | 23.2 bp −$232 | 156.4 bp −$15.6K | 415.3 bp −$207.7K |
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 PERP | −0.4643% | 1h | 2.4940 | −1.411% | $2K | $54K | 5.5x | as long as short |
| Deribit PENDLE_USDC-PERPETUAL | −0.0423% | 1h | 2.5259 | −0.150% | $28K | $11K | 10x | as long as short |
| Bybit PENDLEUSDT | −0.0160% | 8h | 2.5202 | −0.375% | $15.6M | $12.0M | 50x | as long as short |
| ApeX Omni PENDLEUSDT | −0.0085% | 1h | 2.5129 | −0.664% | $77K | $239K | 50x | as long as short |
| Extended PENDLE-USD | −0.0072% | 1h | 2.5247 | −0.198% | $166K | $524K | 10x | as long as short |
| MEXC PENDLE_USDT | −0.0070% | 8h | 2.5229 | −0.269% | $17.1M | $1.8M | 125x | as long as short |
| Binance PENDLEUSDT | −0.0070% | 8h | 2.5227 | −0.277% | $27.3M | $42.5M | 75x | as long as short |
| BloFin PENDLE-USDT | −0.0051% | 8h | 2.5183 | −0.451% | $1.3M | $709K | 75x | as long as short |
| Gate PENDLE_USDT | −0.0041% | 8h | 2.5250 | −0.186% | $782K | $1.2M | 75x | as long as short |
| Orderly PERP_PENDLE_USDC | −0.0012% | 8h | 2.5259 | −0.150% | $20K | $16K | 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 | 2.5273 | −0.095% | $11K | — | 5x | as long as short |
| Variational Omni PENDLE | +0.0012% | 8h | 2.5257 | −0.160% | $600K | $1.9M | — | as long as short |
| GRVT PENDLE_USDT_Perp | +0.0015% | 8h | 2.5166 | −0.518% | $426K | $1.6M | 10x | as long as short |
| Reya PENDLERUSDPERP | +0.0048% | 1h | 2.5226 | −0.279% | $4K | — | 15x | as long as short |
| Aevo PENDLE-PERP | +0.0064% | 1h | 2.5202 | −0.377% | $26K | — | 3x | as long as short |
| Lighter PENDLE | +0.0096% | 1h | 2.5241 | −0.221% | $532K | $407K | 5x | as long as short |
| Aster PENDLEUSDT | +0.0098% | 8h | 2.5278 | −0.074% | $47K | $178K | 10x | as long as short |
| Paradex PENDLE-USD-PERP | +0.0100% | 8h | 2.5198 | −0.392% | $35K | $18K | 10x | as long as short |
| Hyperliquid PENDLE | +0.0100% | 1h | 2.5274 | −0.091% | $12.8M | $6.2M | 5x | as long as short |
| OKX PENDLE-USDT-SWAP | +0.0100% | 4h | 2.5190 | −0.423% | $3.2M | $6.0M | 50x | as long as short |
| KuCoin PENDLEUSDTM | +0.0100% | 8h | 2.5255 | −0.166% | $886K | $600K | 50x | as long as short |
| Bitget PENDLEUSDT | +0.0100% | 8h | 2.5190 | −0.423% | $3.7M | $2.5M | 75x | as long as short |
| BingX PENDLE-USDTshort | +0.0100% | 8h | 2.5250 | −0.186% | — | $35.7M | — | |
| edgeX PENDLEUSDC | +0.0100% | 4h | 2.5212 | −0.335% | $25K | $380K | 10x | as long as short |
| Polymarket Perps PENDLE-USD | +0.0100% | 1h | 2.5256 | −0.162% | $16K | $20K | 5x | as long as short |
| SunX PENDLE-USDT | +0.0100% | 8h | 2.5263 | −0.134% | $1K | $1.8M | 20x | as long as short |
| GMX PENDLE/USD [PENDLE-USDC] | L +0.0199% / S −0.0256% | 1h | 2.5244 | −0.211% | $5K | — | 100x | as long as short |
| Kraken Futures PF_PENDLEUSDlong | +0.0616% | 1h | 2.5297 | long leg | $119K | $298K | 20x | |
| Coinbase International PENDLE-PERP-INTX | +0.0728% | 1h | 2.5270 | −0.107% | $141K | $430K | 25x | as long as short |
| Backpack PENDLE_USDC_PERP | +0.0784% | 1h | 2.5310 | +0.052% | $333K | $488K | 15x | as long as short |
Kraken Futures PF_PENDLEUSD
BingX PENDLE-USDT
Injective PENDLE/USDC PERP
Deribit PENDLE_USDC-PERPETUAL
Bybit PENDLEUSDT
ApeX Omni PENDLEUSDT
Extended PENDLE-USD
MEXC PENDLE_USDT
Binance PENDLEUSDT
BloFin PENDLE-USDT
Gate PENDLE_USDT
Variational Omni PENDLE
GRVT PENDLE_USDT_Perp
Lighter PENDLE
Aster PENDLEUSDT
Paradex PENDLE-USD-PERP
Hyperliquid PENDLE
OKX PENDLE-USDT-SWAP
KuCoin PENDLEUSDTM
Bitget PENDLEUSDT
edgeX PENDLEUSDC
Polymarket Perps PENDLE-USD
SunX PENDLE-USDT
GMX PENDLE/USD [PENDLE-USDC]
Coinbase International PENDLE-PERP-INTX
Backpack PENDLE_USDC_PERP