PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0066%/8h= +7.2% APRnext payment +$0.66 per $10,000 · paid last 24h +0.022%

Price spread now: Bybit against Variational Omni+0.139%7-day average +0.013% · you sell dearer than you buy

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.041%+$4 on $10k

Price spread, last 7 days−0.102%−$10 · spread now +0.139%, 7d avg +0.013%

Together, before fees−0.061%+ Points / potential airdropVariational Omni: Active · farm board−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bybit is 0.126% dearer against Variational Omni than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni PENDLE	2.4626	0.0034	pay 0.0034% / 8h	4h 50m	$563K	$1.7M	—
Short	Bybit PENDLEUSDT	2.4660	0.0100	get 0.0100% / 8h	4h 50m	$14.6M	$12.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. 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 Variational OmnibpFee BybitbpOrdersPrice spread, now +0.139%Rate

Funding earned: $13.78
Price spread: +0.139% → +0.013%: $12.64
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $15.42
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Bybit: live order book, 2 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 Variational Omni RFQ quote, 3 min ago	6.76 bp	doesn't fit	63.2 bp −$632	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	4.05 bp	19.4 bp −$19	59.2 bp −$592	doesn't fit	doesn't fit

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	−0.4334%	1h	2.4430	−0.795%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0237%	1h	2.4644	+0.074%	$25K	$14K	10x	as long as short
Extended PENDLE-USD	−0.0072%	1h	2.4664	+0.157%	$161K	$570K	10x	as long as short
Binance PENDLEUSDT	−0.0071%	8h	2.4673	+0.192%	$26.3M	$43.9M	75x	as long as short
MEXC PENDLE_USDT	−0.0068%	8h	2.4674	+0.196%	$17.3M	$1.9M	125x	as long as short
BloFin PENDLE-USDT	−0.0058%	8h	2.4635	+0.038%	$1.3M	$650K	75x	as long as short
Aster PENDLEUSDT	−0.0044%	8h	2.4667	+0.169%	$47K	$178K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0036%	8h	2.4641	+0.062%	$19K	$15K	10x	as long as short
Gate PENDLE_USDT	−0.0019%	8h	2.4640	+0.058%	$715K	$1.1M	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4666	+0.162%	$10K	—	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PENDLElong	+0.0034%	8h	2.4626	long leg	$563K	$1.7M	—
Reya PENDLERUSDPERP	+0.0063%	1h	2.4649	+0.097%	$3K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4630	+0.018%	$26K	—	3x	as long as short
GRVT PENDLE_USDT_Perp	+0.0081%	8h	2.4685	+0.241%	$412K	$1.8M	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4653	+0.111%	$526K	$414K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4634	+0.035%	$34K	$13K	10x	as long as short
Bybit PENDLEUSDTshort	+0.0100%	8h	2.4660	+0.139%	$14.6M	$12.3M	50x
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4680	+0.221%	$3.1M	$6.2M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4689	+0.257%	$874K	$580K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4669	+0.176%	$3.7M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4658	+0.131%	—	$8.6M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4687	+0.247%	$24K	$377K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4674	+0.196%	$75K	$235K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4672	+0.188%	$16K	$8K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4655	+0.119%	$2K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4651	+0.102%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0283%	1h	2.4683	+0.233%	$12.6M	$6.1M	5x	as long as short
Backpack PENDLE_USDC_PERP	+0.0420%	1h	2.4691	+0.265%	$355K	$477K	15x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0608%	1h	2.4760	+0.545%	$147K	$493K	25x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1178%	1h	2.4693	+0.273%	$115K	$278K	20x	as long as short