PENDLE funding rates and arbitrage
Updated 2026-11-11 22:51 UTC
Best PENDLE arbitrage after every cost
No PENDLE pair nets a profit at this size right now.
At $10,000 per side, held 7 days, after taker fees, order-book slippage and carry.
PENDLE funding rate on every exchange
| Exchange | Contract | Rate | Every | Annualised | Settled 7d, annualised | Open interest | Next settlement |
|---|---|---|---|---|---|---|---|
| Kraken | PF_PENDLEUSD | 0.0038% | 1 h | +32.9% | +5.0% | $52.1K | 2026-11-11 23:00 |
| KuCoin | PENDLEUSDTM | 0.0100% | 8 h | +10.9% | +11.0% | $807.9K | 2026-11-12 00:00 |
| Backpack | PENDLE_USDC_PERP | 0.0013% | 1 h | +10.9% | −23.8% | $100.9K | 2026-11-11 23:00 |
| Phemex | PENDLEUSDT | 0.0100% | 8 h | +10.9% | — | $1.4M | 2026-11-12 00:00 |
| WhiteBIT | PENDLE_PERP | 0.0100% | 8 h | +10.9% | +11.0% | $2M | 2026-11-12 00:00 |
| Bitget | PENDLEUSDT | 0.0100% | 8 h | +10.9% | +11.0% | $2.8M | 2026-11-12 00:00 |
| OKX | PENDLE-USDT-SWAP | 0.0050% | 4 h | +10.9% | +11.0% | $2.7M | 2026-11-12 00:00 |
| GRVT | PENDLE_USDT_Perp | 0.0100% | 8 h | +10.9% | +10.4% | $244.7K | 2026-11-12 00:00 |
| BingX | PENDLE-USDT | 0.0100% | 8 h | +10.9% | +11.0% | $1.2M | 2026-11-12 00:00 |
| Aster | PENDLEUSDT | 0.0100% | 8 h | +10.9% | +11.0% | $70.5K | 2026-11-12 00:00 |
| Hyperliquid | PENDLE | 0.0013% | 1 h | +10.9% | +10.9% | $7.7M | 2026-11-11 23:00 |
| Variational | PENDLE-PERP | 0.0100% | 8 h | +10.9% | +12.6% | $263.2K | 2026-11-12 00:00 |
| Paradex | PENDLE-USD-PERP | 0.0098% | 8 h | +10.7% | — | $19K | 2026-11-12 00:00 |
| Lighter | PENDLE | 0.0012% | 1 h | +10.5% | +8.5% | $278.1K | 2026-11-11 23:00 |
| BloFin | PENDLE-USDT | 0.0077% | 8 h | +8.5% | +20.2% | $488K | 2026-11-12 00:00 |
| Bitunix | PENDLEUSDT | 0.0066% | 8 h | +7.2% | +10.6% | — | 2026-11-12 00:00 |
| Gate | PENDLE_USDT | 0.0063% | 8 h | +6.9% | +5.1% | $432.7K | 2026-11-12 00:00 |
| LBank | PENDLEUSDT | 0.0059% | 8 h | +6.5% | +12.6% | — | 2026-11-12 00:00 |
| WOO X | PERP_PENDLE_USDT | 0.0059% | 8 h | +6.5% | +10.4% | $363 | 2026-11-12 00:00 |
| MEXC | PENDLE_USDT | 0.0059% | 8 h | +6.5% | +10.4% | $6.1M | 2026-11-12 00:00 |
| Binance | PENDLEUSDT | 0.0058% | 8 h | +6.4% | +10.4% | $10.4M | 2026-11-12 00:00 |
| Extended | PENDLE-USD | 0.0007% | 1 h | +6.1% | +10.5% | $69.7K | 2026-11-11 23:00 |
| Bybit | PENDLEUSDT | 0.0011% | 8 h | +1.2% | +5.0% | $7.9M | 2026-11-12 00:00 |
| TXFlow | PENDLE-USDC | 0.0000% | 1 h | +0.2% | — | $5.3K | 2026-11-11 23:00 |
| dYdX | PENDLE-USD | 0.0000% | 1 h | 0.0% | −0.3% | $16.5K | 2026-11-11 23:00 |
| ApeX | PENDLE-USDT | -0.0013% | 1 h | −11.0% | +10.2% | $34.3K | 2026-11-11 23:00 |
| Crypto.com | PENDLEUSD-PERP | -0.0089% | 1 h | −77.8% | −55.2% | $43.4K | 2026-11-11 23:00 |
Borrow PENDLE to sell spot
| Exchange | Borrow APR | Per-account limit |
|---|---|---|
| Bitget | 2.29% | — |
| Binance | 5.00% | — |
| Bybit | 7.49% | — |
| Gate | 12.05% | $30K |
Cost to enter $10,000 of PENDLE
| Exchange | Contract | Fee + slippage | Source |
|---|---|---|---|
| Backpack | PENDLE_USDC_PERP | 6.4 bp * | order-book snapshot, 58 min old |
| GRVT | PENDLE_USDT_Perp | 13.1 bp | order-book snapshot, 57 min old |
| Lighter | PENDLE | 3.6 bp | top of book only |
| Extended | PENDLE-USD | 3.8 bp | top of book only |
| Variational | PENDLE-PERP | 4.4 bp | top of book only |
| MEXC | PENDLE_USDT | 4.7 bp | top of book only |
| BingX | PENDLE-USDT | 5.3 bp | top of book only |
| Binance | PENDLEUSDT | 5.7 bp | top of book only |
| Paradex | PENDLE-USD-PERP | 6.9 bp | top of book only |
| Bybit | PENDLEUSDT | 7.1 bp | top of book only |
| BloFin | PENDLE-USDT | 8.0 bp | top of book only |
| OKX | PENDLE-USDT-SWAP | 8.3 bp | top of book only |
Taker fee plus slippage of a market buy of $10,000 from the mid price, at standard (VIP0) fees. * fee estimated: the exchange publishes no fee schedule without an account.
More on PENDLE
Questions
Is PENDLE funding-rate arbitrage profitable right now?
Not at $10,000 per side for 7 days: no PENDLE pair shows a verified profit after fees and order-book slippage right now. Rates change every hour; the live page re-ranks continuously.
Which exchange has the highest PENDLE funding rate?
Kraken at +32.9% a year (0.0038% every 1 h); the lowest is Crypto.com at −77.8%. A positive rate is paid by longs to shorts, a negative one by shorts to longs.
The method behind every number on AfterFees is published; Pro opens each figure into its line-by-line calculation. Estimates from current data, not investment advice. We never hold funds or trade for you.