Funding you earn now, next payment 06:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h −0.012%
Price spread now: Bybit against Reya+0.268%56s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Bybit is 0.268% dearer against Reya than usual: you sell high and buy low: +$27 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya PENDLERUSDPERP | 2.4474 | 0.0072 | pay 0.0009% / 1h | 52m 32s | $3K | — | 15x |
| Short | Bybit PENDLEUSDT | 2.4540 | 0.0100 | get 0.0100% / 8h | 2h 52m | $14.4M | $12.0M | 50x |
Reya PENDLERUSDPERP
Bybit PENDLEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Reya. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $5.88
- Price spread: +0.268% → 0.000%
- $26.8
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $15.68
- Costs to cover
- 0.170%
- Break-even
- from the start
Slippage unknown: Reya: no order-book sample; Bybit: live order book, 6 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 Reya no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 6 min ago | 4.08 bp | 19.4 bp −$19 | 69.0 bp −$690 | 266.3 bp −$26.6K | doesn't fit |
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 | −0.3926% | 1h | 2.4240 | −0.958% | $2K | $54K | 5.5x | as long as short |
| Gate PENDLE_USDT | −0.0051% | 8h | 2.4490 | +0.064% | $720K | $1.1M | 75x | as long as short |
| Orderly PERP_PENDLE_USDC | −0.0036% | 8h | 2.4472 | −0.010% | $19K | $15K | 10x | as long as short |
| Extended PENDLE-USD | −0.0024% | 1h | 2.4521 | +0.191% | $158K | $579K | 10x | as long as short |
| MEXC PENDLE_USDT | −0.0022% | 8h | 2.4535 | +0.248% | $17.4M | $2.0M | 125x | as long as short |
| Binance PENDLEUSDT | −0.0021% | 8h | 2.4538 | +0.261% | $25.9M | $44.3M | 75x | as long as short |
| dYdX PENDLE-USD | 0.0000% | 1h | 2.4526 | +0.210% | $10K | — | 5x | as long as short |
| Deribit PENDLE_USDC-PERPETUAL | 0.0000% | 1h | 2.4480 | +0.023% | $24K | $15K | 10x | as long as short |
| BloFin PENDLE-USDT | +0.0001% | 8h | 2.4472 | −0.010% | $1.1M | $600K | 75x | as long as short |
| Aevo PENDLE-PERP | +0.0072% | 1h | 2.4470 | −0.018% | $26K | — | 3x | as long as short |
Injective PENDLE/USDC PERP
Gate PENDLE_USDT
Orderly PERP_PENDLE_USDC
Extended PENDLE-USD
MEXC PENDLE_USDT
Binance PENDLEUSDT
dYdX PENDLE-USD
Deribit PENDLE_USDC-PERPETUAL
BloFin PENDLE-USDT
Aevo PENDLE-PERPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya PENDLERUSDPERPlong | +0.0072% | 1h | 2.4474 | long leg | $3K | — | 15x | |
| Aster PENDLEUSDT | +0.0073% | 8h | 2.4536 | +0.250% | $46K | $171K | 10x | as long as short |
| GRVT PENDLE_USDT_Perp | +0.0080% | 8h | 2.4583 | +0.444% | $408K | $2.1M | 10x | as long as short |
| Lighter PENDLE | +0.0096% | 1h | 2.4512 | +0.154% | $517K | $415K | 5x | as long as short |
| Variational Omni PENDLE | +0.0097% | 8h | 2.4531 | +0.230% | $551K | $1.4M | — | as long as short |
| Paradex PENDLE-USD-PERP | +0.0100% | 8h | 2.4519 | +0.183% | $34K | $9K | 10x | as long as short |
| Hyperliquid PENDLE | +0.0100% | 1h | 2.4536 | +0.252% | $12.6M | $6.1M | 5x | as long as short |
| Bybit PENDLEUSDTshort | +0.0100% | 8h | 2.4540 | +0.268% | $14.4M | $12.0M | 50x | |
| OKX PENDLE-USDT-SWAP | +0.0100% | 4h | 2.4550 | +0.309% | $3.1M | $6.4M | 50x | as long as short |
| KuCoin PENDLEUSDTM | +0.0100% | 8h | 2.4511 | +0.149% | $862K | $554K | 50x | as long as short |
| Bitget PENDLEUSDT | +0.0100% | 8h | 2.4510 | +0.145% | $3.7M | $2.3M | 75x | as long as short |
| BingX PENDLE-USDT | +0.0100% | 8h | 2.4539 | +0.264% | — | $8.4M | — | as long as short |
| edgeX PENDLEUSDC | +0.0100% | 4h | 2.4496 | +0.090% | $24K | $374K | 10x | as long as short |
| ApeX Omni PENDLEUSDT | +0.0100% | 1h | 2.4572 | +0.399% | $75K | $233K | 50x | as long as short |
| Polymarket Perps PENDLE-USD | +0.0100% | 1h | 2.4497 | +0.092% | $16K | $7K | 5x | as long as short |
| SunX PENDLE-USDT | +0.0100% | 8h | 2.4474 | −0.002% | $2K | $1.8M | 20x | as long as short |
| GMX PENDLE/USD [PENDLE-USDC] | L +0.0196% / S −0.0222% | 1h | 2.4476 | +0.006% | $5K | — | 100x | as long as short |
| Coinbase International PENDLE-PERP-INTX | +0.0592% | 1h | 2.4530 | +0.227% | $150K | $509K | 25x | as long as short |
| Backpack PENDLE_USDC_PERP | +0.0612% | 1h | 2.4524 | +0.203% | $353K | $402K | 15x | as long as short |
| Kraken Futures PF_PENDLEUSD | +0.1188% | 1h | 2.4550 | +0.308% | $115K | $263K | 20x | as long as short |
Aster PENDLEUSDT
GRVT PENDLE_USDT_Perp
Lighter PENDLE
Variational Omni PENDLE
Paradex PENDLE-USD-PERP
Hyperliquid PENDLE
OKX PENDLE-USDT-SWAP
KuCoin PENDLEUSDTM
Bitget PENDLEUSDT
BingX PENDLE-USDT
edgeX PENDLEUSDC
ApeX Omni PENDLEUSDT
Polymarket Perps PENDLE-USD
SunX PENDLE-USDT
GMX PENDLE/USD [PENDLE-USDC]
Coinbase International PENDLE-PERP-INTX
Backpack PENDLE_USDC_PERP
Kraken Futures PF_PENDLEUSD