PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0135%/8h= −14.8% APRnext payment −$1.35 per $10,000 · paid last 24h −0.003%

Price spread now: Binance against KuCoin−0.022%7-day average +0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$129as in the Funding arb table

Net, price: spread back to 7d avg − costs−$127as in the Price arb table

costs, in and out, $10k−$1221.217% of the position

Long on KuCoin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 on $10k

Price spread, last 7 days+0.094%+$9 · spread now −0.022%, 7d avg +0.030%

Together, before fees+0.025%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Binance is 0.052% cheaper against KuCoin than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.030%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PENDLEUSDTM	2.5251	0.0100	pay 0.0100% / 8h	23m 00s	$887K	$600K	50x
Short	Binance PENDLEUSDT	2.5246	−0.0035	pay 0.0035% / 8h	23m 00s	$27.3M	$41.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against KuCoin. 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 KuCoinbpFee BinancebpOrdersPrice spread, now −0.022%Rate

Funding earned: −$28.45
Price spread: −0.022% → +0.030%: −$5.19
Slippage, 4 orders: −$99.69
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$155.34
Costs to cover: 1.217%
Break-even: never at this rate

Slippage from KuCoin: live order book, 41 min ago; Binance: live order book, 4 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 KuCoin live order book, 41 min ago	8.40 bp	62.9 bp −$63	213.7 bp −$2,137	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	0.40 bp	10.6 bp −$11	25.5 bp −$255	150.3 bp −$15.0K	doesn't fit

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	−0.5000%	1h	2.4940	−1.232%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0305%	1h	2.5230	−0.083%	$30K	$10K	10x	as long as short
BloFin PENDLE-USDT	−0.0058%	8h	2.5235	−0.063%	$1.3M	$714K	75x	as long as short
Binance PENDLEUSDTshort	−0.0035%	8h	2.5246	−0.022%	$27.3M	$41.9M	75x
MEXC PENDLE_USDT	−0.0033%	8h	2.5248	−0.012%	$17.1M	$1.9M	125x	as long as short
Extended PENDLE-USD	−0.0032%	1h	2.5219	−0.125%	$166K	$528K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0027%	1h	2.5215	−0.143%	$77K	$239K	50x	as long as short
Orderly PERP_PENDLE_USDC	−0.0004%	8h	2.5227	−0.095%	$20K	$16K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5221	−0.119%	$11K	—	5x	as long as short
Variational Omni PENDLE	+0.0036%	8h	2.5202	−0.194%	$595K	$1.9M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT PENDLE_USDT_Perp	+0.0045%	8h	2.5244	−0.027%	$418K	$1.6M	10x	as long as short
Reya PENDLERUSDPERP	+0.0045%	1h	2.5218	−0.130%	$4K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0072%	1h	2.5222	−0.115%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5241	−0.040%	$532K	$416K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5207	−0.175%	$35K	$18K	10x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5265	+0.056%	$46K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5231	−0.079%	$15.6M	$11.9M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5220	−0.123%	$3.2M	$6.0M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5230	−0.083%	$785K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTMlong	+0.0100%	8h	2.5251	long leg	$887K	$600K	50x
Bitget PENDLEUSDT	+0.0100%	8h	2.5226	−0.099%	$3.8M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5226	−0.099%	—	$35.7M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5208	−0.169%	$25K	$382K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5241	−0.040%	$16K	$20K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.5230	−0.083%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5240	−0.042%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0345%	1h	2.5279	+0.111%	$12.8M	$6.2M	5x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0594%	1h	2.5289	+0.150%	$119K	$299K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5340	+0.352%	$141K	$451K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0775%	1h	2.5281	+0.119%	$332K	$490K	15x	as long as short