PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.4312%/8h= −472.2% APRnext payment −$5.39 per $10,000 · paid last 24h −0.792%

Price spread now: Injective against Reya−0.970%52s7-day average — · you buy dearer than you sell

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

Long on Reya Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$129 a day on $10k at the current rate, and Injective is 0.970% cheaper against Reya than usual: you would sell low and buy high (−$97 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 52 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	2.4558	0.0069	pay 0.0009% / 1h	28m 25s	$3K	—	15x
Short	Injective PENDLE/USDC PERP	2.4320	−0.4243	pay 0.0530% / 1h	28m 25s	$2K	$54K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Reya. 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 ReyabpFee InjectivebpOrdersPrice spread, now −0.970%Rate

Funding earned: −$905.6
Price spread: −0.970% → 0.000%: −$96.97
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1,008.58
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Injective: no order-book sample. 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 Injective no order-book sample	—	—	—	—	—

Reya and Injective: 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 PERPshort	−0.4243%	1h	2.4320	−0.970%	$2K	$54K	5.5x
Deribit PENDLE_USDC-PERPETUAL	−0.0524%	1h	2.4527	−0.127%	$25K	$14K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0129%	1h	2.4570	+0.048%	$75K	$234K	50x	as long as short
BloFin PENDLE-USDT	−0.0065%	8h	2.4525	−0.135%	$1.1M	$595K	75x	as long as short
Gate PENDLE_USDT	−0.0062%	8h	2.4550	−0.033%	$718K	$1.1M	75x	as long as short
Binance PENDLEUSDT	−0.0057%	8h	2.4559	+0.004%	$26.0M	$44.2M	75x	as long as short
MEXC PENDLE_USDT	−0.0057%	8h	2.4557	−0.005%	$17.4M	$2.0M	125x	as long as short
Extended PENDLE-USD	−0.0056%	1h	2.4540	−0.074%	$158K	$581K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0041%	8h	2.4523	−0.143%	$19K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4563	+0.018%	$10K	—	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENDLEUSDT	+0.0002%	8h	2.4627	+0.280%	$47K	$172K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0042%	8h	2.4598	+0.164%	$406K	$2.0M	10x	as long as short
Variational Omni PENDLE	+0.0063%	8h	2.4581	+0.092%	$551K	$1.4M	—	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4520	−0.153%	$26K	—	3x	as long as short
Reya PENDLERUSDPERPlong	+0.0069%	1h	2.4558	long leg	$3K	—	15x
Lighter PENDLE	+0.0096%	1h	2.4554	−0.017%	$515K	$428K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4544	−0.058%	$34K	$11K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4550	−0.033%	$14.4M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4570	+0.048%	$3.1M	$6.4M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4573	+0.061%	$888K	$552K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4559	+0.004%	$3.7M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4547	−0.045%	—	$8.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4567	+0.035%	$24K	$377K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4584	+0.105%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4541	−0.070%	$2K	$1.8M	20x	as long as short
Hyperliquid PENDLE	+0.0165%	1h	2.4612	+0.219%	$12.8M	$6.1M	5x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4535	−0.095%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0640%	1h	2.4560	+0.008%	$146K	$499K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0713%	1h	2.4594	+0.146%	$357K	$400K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1183%	1h	2.4603	+0.184%	$115K	$269K	20x	as long as short