After costs, if the gap returns to its 7d average, $10k−$46
spread now+0.053%7d average+0.088%fees + slippage, in and out−$42spread needed0.420%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter PENDLE | 2.6589 | 0.0096 | pay 0.0012% / 1h | 8m 39s | $587K | $337K | 5x |
| Short | Hyperliquid PENDLE | 2.6603 | 0.0100 | get 0.0013% / 1h | 8m 39s | $12.6M | $5.0M | 5x |
Lighter PENDLE
Hyperliquid PENDLEPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $5.27
- Funding while held
- $0.12
- Slippage, 4 orders
- −$33.02
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$36.63
- Spread needed to break even
- 0.420%
Slippage from Lighter: live order book, 43 min ago; Hyperliquid: live order book, 5 min ago.
Cost of waiting
funding view- Funding /8h
- +0.0004%
- Per $10,000 a day
- +$0.12
- Average in range /8h
- —
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 Lighter live order book, 43 min ago | 5.12 bp | 5.6 bp −$6 | 62.7 bp −$627 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 5 min ago | 1.89 bp | 8.3 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
PENDLE price on every exchange
against the cheapest. Click to use as the short leg.edgeX2.6393cheapestVariational Omni2.6424+0.120%ApeX Omni2.6445+0.199%Injective2.6500+0.407%BloFin2.6513+0.456%Coinbase International2.6520+0.483%Polymarket Perps2.6521+0.487%Aevo2.6523+0.494%Orderly2.6524+0.498%Gate2.6530+0.521%Deribit2.6535+0.540%Reya2.6539+0.553%GMX2.6546+0.582%Extended2.6547+0.587%BingX2.6548+0.589%SunX2.6551+0.600%Bitget2.6556+0.619%Bybit2.6560+0.634%Aster2.6562+0.640%OKX2.6570+0.672%KuCoin2.6570+0.672%Backpack2.6586+0.733%dYdX2.6586+0.733%Paradex2.6587+0.737%
Variational Omni
ApeX Omni
Injective
BloFin
Coinbase International
Polymarket Perps
Aevo
Orderly
Gate
Deribit
Reya
GMX
Extended
BingX
SunX
Bitget
Bybit
Aster
OKX
KuCoin
Backpack
dYdX
ParadexLighter2.6589+0.744%
Kraken Futures2.6593+0.759%MEXC2.6593+0.759%Binance2.6601+0.790%
Kraken Futures
MEXC
BinanceHyperliquid2.6603+0.797%
PENDLE on 29 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| edgeX PENDLEUSDC | −0.739% | +0.0100% | 4h | $26K | $414K | 10x | as long as short |
| Variational Omni PENDLE | −0.619% | −0.0227% | 8h | $880K | $2.1M | — | as long as short |
| ApeX Omni PENDLEUSDT | −0.542% | +0.0002% | 1h | $80K | $234K | 50x | as long as short |
| Injective PENDLE/USDC PERP | −0.335% | −0.3627% | 1h | $3K | $52K | 5.5x | as long as short |
| BloFin PENDLE-USDT | −0.286% | +0.0078% | 8h | $1.5M | $835K | 75x | as long as short |
| Coinbase International PENDLE-PERP-INTX | −0.260% | +0.0368% | 1h | $87K | $364K | 25x | as long as short |
| Polymarket Perps PENDLE-USD | −0.256% | +0.0005% | 1h | $18K | $70K | 5x | as long as short |
| Aevo PENDLE-PERP | −0.249% | +0.0104% | 1h | $28K | — | 3x | as long as short |
| Orderly PERP_PENDLE_USDC | −0.244% | +0.0050% | 8h | $22K | $4K | 10x | as long as short |
| Gate PENDLE_USDT | −0.222% | −0.0033% | 8h | $827K | $1.0M | 75x | as long as short |
Show all 29 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Deribit PENDLE_USDC-PERPETUAL | −0.203% | −0.0164% | 1h | $31K | $10K | 10x | as long as short |
| Reya PENDLERUSDPERP | −0.190% | +0.0003% | 1h | $4K | — | 15x | as long as short |
| GMX PENDLE/USD [PENDLE-USDC] | −0.161% | L +0.0200% / S −0.0269% | 1h | $5K | — | 100x | as long as short |
| Extended PENDLE-USD | −0.156% | +0.0104% | 1h | $175K | $520K | 10x | as long as short |
| BingX PENDLE-USDT | −0.154% | +0.0100% | 8h | — | $34.1M | — | as long as short |
| SunX PENDLE-USDT | −0.143% | +0.0100% | 8h | $2K | $1.4M | 20x | as long as short |
| Bitget PENDLEUSDT | −0.124% | +0.0100% | 8h | $4.0M | $2.6M | 75x | as long as short |
| Bybit PENDLEUSDT | −0.109% | −0.0195% | 8h | $16.5M | $11.3M | 50x | as long as short |
| Aster PENDLEUSDT | −0.103% | +0.0068% | 8h | $51K | $121K | 10x | as long as short |
| OKX PENDLE-USDT-SWAP | −0.071% | +0.0100% | 4h | $3.3M | $4.8M | 50x | as long as short |
| KuCoin PENDLEUSDTM | −0.071% | +0.0100% | 8h | $1.1M | $465K | 50x | as long as short |
| Backpack PENDLE_USDC_PERP | −0.011% | +0.0335% | 1h | $376K | $445K | 15x | as long as short |
| dYdX PENDLE-USD | −0.011% | 0.0000% | 1h | $11K | — | 5x | as long as short |
| Paradex PENDLE-USD-PERP | −0.007% | +0.0100% | 8h | $37K | $31K | 10x | as long as short |
| Lighter PENDLElong | 0.000% | +0.0096% | 1h | $587K | $337K | 5x | |
| Kraken Futures PF_PENDLEUSD | +0.015% | +0.1450% | 1h | $171K | $215K | 20x | as long as short |
| MEXC PENDLE_USDT | +0.015% | +0.0100% | 8h | $17.2M | $2.1M | 125x | as long as short |
| Binance PENDLEUSDT | +0.045% | +0.0100% | 8h | $29.7M | $31.8M | 75x | as long as short |
| Hyperliquid PENDLEshort | +0.053% | +0.0100% | 1h | $12.6M | $5.0M | 5x |