PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0022%/8h= +2.4% APRnext payment +$0.03 per $10,000 · paid last 24h +0.024%

Price spread now: Lighter against Reya+0.050%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Lighter

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 · Lighter: Season 3 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.050% dearer against Reya than usual: you sell high and buy low: +$5 more if the spread 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	Reya PENDLERUSDPERP	2.4468	0.0074	pay 0.0009% / 1h	29m 36s	$3K	—	15x
Short	Lighter PENDLE	2.4480	0.0096	get 0.0012% / 1h	29m 36s	$516K	$416K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.050%Rate

Funding earned: $4.65
Price spread: +0.050% → 0.000%: $5.05
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: $3.7
Costs to cover: 0.060%
Break-even: 1.4 days

Slippage unknown: Reya: no order-book sample; Lighter: live order book, 11 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 Lighter live order book, 11 min ago	7.79 bp	16.5 bp −$17	88.5 bp −$885	doesn't fit	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	2.4150	−1.298%	$2K	$54K	5.5x	as long as short
Orderly PERP_PENDLE_USDC	−0.0035%	8h	2.4468	+0.001%	$19K	$15K	10x	as long as short
Gate PENDLE_USDT	−0.0034%	8h	2.4450	−0.072%	$717K	$1.1M	75x	as long as short
BloFin PENDLE-USDT	−0.0010%	8h	2.4399	−0.281%	$1.1M	$599K	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4476	+0.033%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4474	+0.026%	$24K	$15K	10x	as long as short
Extended PENDLE-USD	+0.0008%	1h	2.4473	+0.022%	$157K	$582K	10x	as long as short
MEXC PENDLE_USDT	+0.0010%	8h	2.4470	+0.010%	$17.3M	$2.0M	125x	as long as short
Binance PENDLEUSDT	+0.0013%	8h	2.4487	+0.079%	$25.8M	$44.3M	75x	as long as short
Reya PENDLERUSDPERPlong	+0.0074%	1h	2.4468	long leg	$3K	—	15x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PENDLE-PERP	+0.0080%	1h	2.4460	−0.031%	$26K	—	3x	as long as short
Lighter PENDLEshort	+0.0096%	1h	2.4480	+0.050%	$516K	$416K	5x
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4469	+0.006%	$34K	$9K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4512	+0.181%	$12.6M	$6.1M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.4485	+0.072%	$46K	$171K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4480	+0.050%	$14.3M	$12.1M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4510	+0.173%	$3.1M	$6.5M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4464	−0.015%	$860K	$554K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4456	−0.048%	$3.6M	$2.3M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4482	+0.059%	—	$8.4M	—	as long as short
Variational Omni PENDLE	+0.0100%	8h	2.4386	−0.333%	$548K	$1.4M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4392	−0.308%	$24K	$375K	10x	as long as short
GRVT PENDLE_USDT_Perp	+0.0100%	8h	2.4400	−0.278%	$407K	$2.2M	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4389	−0.321%	$74K	$234K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4476	+0.034%	$16K	$7K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4427	−0.166%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4473	+0.020%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	2.4540	+0.296%	$155K	$522K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0661%	1h	2.4538	+0.288%	$356K	$401K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1189%	1h	2.4539	+0.293%	$115K	$263K	20x	as long as short