PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0564%/8h= +61.8% APRpaid last 24h +0.153%

Price spread now: Coinbase International against Variational Omni+0.199%7-day average +0.122% · you sell dearer than you buy

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

Long on Variational Omni Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.130%+$13 on $10k

Price spread, last 4 days (all we have)+0.145%+$14 · spread now +0.199%, 7d avg +0.122%

Together, before fees+0.275%+ Points / potential airdropVariational Omni: Active · farm board+$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Coinbase International is 0.077% dearer against Variational Omni than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.122%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.130% in total (about 12.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni PENDLE	2.4381	0.0100	pay 0.0100% / 8h	7h 18m	$578K	$1.2M	—
Short	Coinbase International PENDLE-PERP-INTX	2.4430	0.0664	get 0.0083% / 1h	18m 40s	$170K	$532K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.199%Rate

Funding earned: $118.44
Price spread: +0.199% → +0.122%: $7.69
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $116.13
Costs to cover: 0.100%
Break-even: 0.1 days

Slippage unknown: Variational Omni: RFQ quote, just now; Coinbase International: live order book, 14 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, just now	4.75 bp	doesn't fit	62.0 bp −$620	doesn't fit	doesn't fit
Sell Coinbase International live order book, 14 min ago	6.20 bp	29.1 bp −$29	607.9 bp −$6,079	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	−0.3627%	1h	2.3930	−1.852%	$2K	$55K	5.5x	as long as short
GRVT PENDLE_USDT_Perp	−0.0441%	8h	2.4399	+0.074%	$414K	$2.7M	10x	as long as short
BloFin PENDLE-USDT	−0.0104%	8h	2.4385	+0.014%	$1.1M	$510K	75x	as long as short
MEXC PENDLE_USDT	−0.0091%	8h	2.4406	+0.101%	$18.1M	$2.1M	125x	as long as short
Binance PENDLEUSDT	−0.0090%	8h	2.4397	+0.063%	$25.6M	$46.4M	75x	as long as short
Extended PENDLE-USD	−0.0088%	1h	2.4384	+0.011%	$161K	$934K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0023%	1h	2.4384	+0.010%	$74K	$231K	50x	as long as short
Orderly PERP_PENDLE_USDC	−0.0011%	8h	2.4371	−0.043%	$18K	$15K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4393	+0.048%	$10K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	2.4372	−0.039%	$25K	$14K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENDLEUSDT	+0.0018%	8h	2.4396	+0.061%	$48K	$174K	10x	as long as short
Gate PENDLE_USDT	+0.0035%	8h	2.4390	+0.035%	$773K	$995K	75x	as long as short
Aevo PENDLE-PERP	+0.0056%	1h	2.4344	−0.152%	$25K	—	3x	as long as short
Reya PENDLERUSDPERP	+0.0089%	1h	2.4421	+0.161%	$3K	—	15x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4406	+0.101%	$527K	$441K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4386	+0.019%	$34K	$3K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.4434	+0.215%	$12.8M	$6.0M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4380	−0.006%	$14.2M	$11.8M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4400	+0.076%	$3.1M	$6.7M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4405	+0.097%	$703K	$598K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4404	+0.092%	$3.8M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4400	+0.076%	—	$8.4M	—	as long as short
Variational Omni PENDLElong	+0.0100%	8h	2.4381	long leg	$578K	$1.2M	—
edgeX PENDLEUSDC	+0.0100%	4h	2.4384	+0.009%	$22K	$370K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4430	+0.199%	$16K	$4K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4401	+0.080%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0151% / S −0.0168%	1h	2.4418	+0.152%	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTXshort	+0.0664%	1h	2.4430	+0.199%	$170K	$532K	25x
Backpack PENDLE_USDC_PERP	+0.0761%	1h	2.4440	+0.240%	$361K	$430K	15x	as long as short
Kraken Futures PF_PENDLEUSD	+0.1274%	1h	2.4365	−0.066%	$115K	$255K	20x	as long as short