PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.1117%/8h= −122.3% APRnext payment −$1.40 per $10,000 · paid last 24h −0.241%

Price spread now: GMX against Kraken Futures+0.112%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. GMX is 0.112% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.112% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$34 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_PENDLEUSD	2.4156	0.1285	pay 0.0161% / 1h	25m 05s	$114K	$256K	20x
Short	GMX PENDLE/USD [PENDLE-USDC]	2.4183	L +0.0151% / S −0.0168%	get 0.0021% / 1h	25m 05s	$5K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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

Position, each leg$Hold fordaysFee Kraken FuturesbpFee GMXbpOrdersPrice spread, now +0.112%Rate

Funding earned: −$234.61
Price spread: +0.112% → 0.000%: $11.23
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$245.39
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 7 min ago; GMX: 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 Kraken Futures live order book, 7 min ago	33.17 bp	91.6 bp −$92	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 PERP	−0.3627%	1h	2.3970	−0.769%	$2K	$55K	5.5x	as long as short
GRVT PENDLE_USDT_Perp	−0.0716%	8h	2.4181	+0.103%	$399K	$2.7M	10x	as long as short
Gate PENDLE_USDT	−0.0173%	8h	2.4190	+0.142%	$766K	$992K	75x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0163%	1h	2.4178	+0.093%	$24K	$16K	10x	as long as short
Extended PENDLE-USD	−0.0104%	1h	2.4165	+0.040%	$160K	$934K	10x	as long as short
Binance PENDLEUSDT	−0.0100%	8h	2.4170	+0.059%	$25.3M	$46.2M	75x	as long as short
MEXC PENDLE_USDT	−0.0100%	8h	2.4172	+0.068%	$17.9M	$2.1M	125x	as long as short
BloFin PENDLE-USDT	−0.0093%	8h	2.4174	+0.076%	$1.1M	$505K	75x	as long as short
ApeX Omni PENDLEUSDT	−0.0064%	1h	2.4177	+0.088%	$74K	$231K	50x	as long as short
Orderly PERP_PENDLE_USDC	−0.0013%	8h	2.4166	+0.043%	$18K	$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	2.4183	+0.112%	$10K	—	5x	as long as short
Aster PENDLEUSDT	+0.0012%	8h	2.4168	+0.051%	$47K	$169K	10x	as long as short
Aevo PENDLE-PERP	+0.0056%	1h	2.4167	+0.049%	$25K	—	3x	as long as short
Bybit PENDLEUSDT	+0.0078%	8h	2.4150	−0.023%	$14.1M	$11.9M	50x	as long as short
Reya PENDLERUSDPERP	+0.0089%	1h	2.4178	+0.094%	$3K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4170	+0.059%	$521K	$430K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4161	+0.023%	$34K	$3K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4208	+0.217%	$12.6M	$6.1M	5x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4180	+0.101%	$3.1M	$6.7M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4176	+0.084%	$695K	$598K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4167	+0.047%	$3.7M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4162	+0.026%	—	$8.3M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4110	−0.188%	$562K	$1.2M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4158	+0.011%	$22K	$369K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4206	+0.208%	$16K	$4K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4201	+0.188%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]short	L +0.0151% / S −0.0168%	1h	2.4183	+0.112%	$5K	—	100x
Coinbase International PENDLE-PERP-INTX	+0.0664%	1h	2.4180	+0.101%	$164K	$518K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0683%	1h	2.4228	+0.300%	$357K	$431K	15x	as long as short
Kraken Futures PF_PENDLEUSDlong	+0.1285%	1h	2.4156	long leg	$114K	$256K	20x