Spread before costs (cost unknown: a leg has no order-book sample)+0.215%
7d average—if it closes, per $10,000$21funding while held, a day+$51.23
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_PENDLE_USDC | 2.5626 | 0.0052 | pay 0.0052% / 8h | 7h 12m | $20K | $4K | 10x |
| Short | Kraken Futures PF_PENDLEUSD | 2.5681 | 0.1760 | get 0.0220% / 1h | 12m 53s | $157K | $266K | 20x |
Orderly PERP_PENDLE_USDC
Kraken Futures PF_PENDLEUSDPrice 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
- $21.46
- Funding while held
- $51.23
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $56.7
- Spread needed to break even
- 0.160%
Slippage unknown: Orderly: no order-book sample; Kraken Futures: live order book, 31 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.1708%
- Per $10,000 a day
- +$51.23
- 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Kraken Futures live order book, 31 min ago | 15.37 bp | 48.8 bp −$49 | doesn't fit | doesn't fit | doesn't fit |
Orderly: 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 price on every exchange
against the cheapest. Click to use as the short leg.Injective2.5320cheapestedgeX2.5606+1.131%Bybit2.5610+1.145%Gate2.5610+1.145%Paradex2.5613+1.155%BloFin2.5614+1.161%Bitget2.5619+1.181%ApeX Omni2.5620+1.185%Aster2.5622+1.192%Reya2.5622+1.193%Aevo2.5623+1.198%BingX2.5624+1.201%Polymarket Perps2.5626+1.209%
Injective
Bybit
Gate
Paradex
BloFin
Bitget
ApeX Omni
Aster
Reya
Aevo
BingX
Polymarket PerpsOrderly2.5626+1.209%
Variational Omni2.5626+1.210%Extended2.5632+1.234%GMX2.5633+1.236%Binance2.5634+1.240%MEXC2.5634+1.240%Lighter2.5636+1.248%Deribit2.5637+1.252%KuCoin2.5638+1.256%OKX2.5640+1.264%SunX2.5649+1.299%dYdX2.5653+1.314%Backpack2.5672+1.390%
Variational Omni
Extended
GMX
Binance
MEXC
Lighter
Deribit
KuCoin
OKX
SunX
dYdX
BackpackKraken Futures2.5681+1.426%
Hyperliquid2.5696+1.485%Coinbase International2.5700+1.501%
Hyperliquid
Coinbase InternationalPENDLE on 29 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective PENDLE/USDC PERP | −1.194% | −0.1875% | 1h | $2K | $6K | 5.5x | as long as short |
| edgeX PENDLEUSDC | −0.077% | +0.0100% | 4h | $25K | $418K | 10x | as long as short |
| Bybit PENDLEUSDT | −0.062% | −0.0182% | 8h | $16.0M | $11.8M | 50x | as long as short |
| Gate PENDLE_USDT | −0.062% | +0.0100% | 8h | $819K | $1.1M | 75x | as long as short |
| Paradex PENDLE-USD-PERP | −0.053% | +0.0100% | 8h | $36K | $30K | 10x | as long as short |
| BloFin PENDLE-USDT | −0.047% | +0.0063% | 8h | $1.4M | $850K | 75x | as long as short |
| Bitget PENDLEUSDT | −0.027% | +0.0100% | 8h | $3.8M | $2.6M | 75x | as long as short |
| ApeX Omni PENDLEUSDT | −0.023% | +0.0074% | 1h | $78K | $237K | 50x | as long as short |
| Aster PENDLEUSDT | −0.016% | −0.0009% | 8h | $51K | $130K | 10x | as long as short |
| Reya PENDLERUSDPERP | −0.015% | +0.0013% | 1h | $4K | — | 15x | as long as short |