PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0001%/8h= +0.1% APRnext payment +$0.00 per $10,000 · paid last 24h +0.020%

Price spread now: Hyperliquid against Polymarket Perps+0.318%7-day average — · you sell dearer than you buy

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

Long on Polymarket Perps Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.173%+$17 on $10k

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

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.318% dearer against Polymarket Perps than usual: you sell high and buy low, +$32 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps PENDLE-USD	2.5186	0.0100	pay 0.0013% / 1h	29m 46s	$16K	$20K	5x
Short	Hyperliquid PENDLE	2.5266	0.0101	get 0.0013% / 1h	29m 46s	$13.0M	$6.4M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Polymarket Perps. 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 Polymarket PerpsbpFee HyperliquidbpOrdersPrice spread, now +0.318%Rate

Funding earned: $0.2
Price spread: +0.318% → 0.000%: $31.76
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $14.96
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Polymarket Perps: no order-book sample; Hyperliquid: live order book, 3 min ago. 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 Polymarket Perps no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 3 min ago	1.99 bp	13.3 bp −$13	doesn't fit	doesn't fit	doesn't fit

Polymarket Perps: 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 29 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	−0.4742%	1h	2.4830	−1.413%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0344%	1h	2.5218	+0.127%	$26K	$14K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0249%	1h	2.5126	−0.238%	$77K	$236K	50x	as long as short
GRVT PENDLE_USDT_Perp	−0.0124%	8h	2.5140	−0.182%	$417K	$1.7M	10x	as long as short
Extended PENDLE-USD	−0.0120%	1h	2.5215	+0.116%	$168K	$566K	10x	as long as short
Binance PENDLEUSDT	−0.0119%	8h	2.5233	+0.187%	$27.2M	$43.4M	75x	as long as short
MEXC PENDLE_USDT	−0.0118%	8h	2.5230	+0.175%	$17.4M	$1.8M	125x	as long as short
Bybit PENDLEUSDT	−0.0084%	8h	2.5210	+0.095%	$15.4M	$12.1M	50x	as long as short
Variational Omni PENDLE	−0.0043%	8h	2.5131	−0.218%	$599K	$1.8M	—	as long as short
Orderly PERP_PENDLE_USDC	−0.0036%	8h	2.5203	+0.067%	$20K	$16K	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENDLEUSDT	−0.0008%	8h	2.5206	+0.079%	$50K	$181K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5157	−0.115%	$11K	—	5x	as long as short
Gate PENDLE_USDT	+0.0009%	8h	2.5230	+0.175%	$767K	$1.2M	75x	as long as short
Aevo PENDLE-PERP	+0.0048%	1h	2.5199	+0.053%	$26K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0055%	1h	2.5166	−0.079%	$4K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5229	+0.171%	$537K	$416K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5132	−0.215%	$35K	$16K	10x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5210	+0.095%	$3.2M	$6.2M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5232	+0.183%	$871K	$595K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5209	+0.091%	$3.8M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.5217	+0.123%	—	$33.8M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.5129	−0.228%	$25K	$381K	10x	as long as short
Polymarket Perps PENDLE-USDlong	+0.0100%	1h	2.5186	long leg	$16K	$20K	5x
SunX PENDLE-USDT	+0.0100%	8h	2.5160	−0.103%	$2K	$1.8M	20x	as long as short
Hyperliquid PENDLEshort	+0.0101%	1h	2.5266	+0.318%	$13.0M	$6.4M	5x
GMX PENDLE/USD [PENDLE-USDC]	L +0.0158% / S −0.0256%	1h	2.5186	+0.001%	$7K	—	100x	as long as short
Backpack PENDLE_USDC_PERP	+0.0389%	1h	2.5261	+0.298%	$354K	$483K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0632%	1h	2.5210	+0.095%	$146K	$472K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0863%	1h	2.5266	+0.316%	$117K	$290K	20x	as long as short