PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.1116%/8h= −122.2% APRnext payment −$1.40 per $10,000 · paid last 24h −0.316%

Price spread now: Reya against Kraken Futures−0.165%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$33 a day on $10k at the current rate, and Reya is 0.165% cheaper against Kraken Futures than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_PENDLEUSD	2.4594	0.1184	pay 0.0148% / 1h	48m 05s	$115K	$268K	20x
Short	Reya PENDLERUSDPERP	2.4553	0.0068	get 0.0008% / 1h	48m 05s	$3K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.165%Rate

Funding earned: −$234.41
Price spread: −0.165% → 0.000%: −$16.54
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$266.95
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 4 min ago; Reya: 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, 4 min ago	14.20 bp	76.2 bp −$76	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	−0.4243%	1h	2.4340	−1.032%	$2K	$54K	5.5x	as long as short
ApeX Omni PENDLEUSDT	−0.0402%	1h	2.4639	+0.184%	$75K	$235K	50x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0076%	1h	2.4561	−0.134%	$25K	$14K	10x	as long as short
Gate PENDLE_USDT	−0.0075%	8h	2.4540	−0.219%	$716K	$1.1M	75x	as long as short
Extended PENDLE-USD	−0.0072%	1h	2.4517	−0.311%	$158K	$576K	10x	as long as short
BloFin PENDLE-USDT	−0.0071%	8h	2.4503	−0.369%	$1.1M	$594K	75x	as long as short
Binance PENDLEUSDT	−0.0069%	8h	2.4538	−0.228%	$26.0M	$43.8M	75x	as long as short
MEXC PENDLE_USDT	−0.0064%	8h	2.4540	−0.219%	$17.4M	$2.0M	125x	as long as short
Orderly PERP_PENDLE_USDC	−0.0041%	8h	2.4555	−0.158%	$19K	$15K	10x	as long as short
Aster PENDLEUSDT	−0.0041%	8h	2.4562	−0.128%	$47K	$171K	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	2.4561	−0.134%	$10K	—	5x	as long as short
GRVT PENDLE_USDT_Perp	+0.0049%	8h	2.4655	+0.247%	$413K	$1.9M	10x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4540	−0.221%	$26K	—	3x	as long as short
Reya PENDLERUSDPERPshort	+0.0068%	1h	2.4553	−0.165%	$3K	—	15x
Variational Omni PENDLE	+0.0071%	8h	2.4606	+0.048%	$552K	$1.4M	—	as long as short
Lighter PENDLE	+0.0096%	1h	2.4535	−0.239%	$514K	$428K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4547	−0.189%	$34K	$11K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4530	−0.260%	$14.4M	$12.0M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4550	−0.178%	$3.1M	$6.3M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4552	−0.170%	$881K	$550K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4542	−0.211%	$3.7M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4542	−0.211%	—	$8.5M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4631	+0.151%	$24K	$376K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4576	−0.073%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4550	−0.178%	$2K	$1.8M	20x	as long as short
Hyperliquid PENDLE	+0.0111%	1h	2.4581	−0.052%	$12.7M	$6.0M	5x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4566	−0.114%	$5K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0427%	1h	2.4596	+0.009%	$358K	$399K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0640%	1h	2.4580	−0.056%	$146K	$498K	25x	as long as short
Kraken Futures PF_PENDLEUSDlong	+0.1184%	1h	2.4594	long leg	$115K	$268K	20x