ArbiLayer

PENDLE arbitrage

live

Live Pendle price differences between exchanges: perpetual, spot and DEX spreads after fees, with funding and depth.

Best net spread+0.01%Variational → KuCoin · Perp–Perp
Best perp–perp spread+0.17%Variational → KuCoin
Markets tracked1710 venues · 10 perp · 7 spot · 0 DEX
Price range0.27%$2.21 – $2.22

Spreads between exchanges

Long (buy)Short (sell)SpreadNetSpread+FDepth $Funding 24hFunding 30DD/WChart
Variational logoVariational$2.21KuCoin logoKuCoin$2.22 +0.17%+0.01% +0.17%— +0.014%— LS Chart →
OKX logoOKX$2.21KuCoin logoKuCoin$2.22 +0.12%-0.04% +0.12%— 0.000%— LS Chart →
Variational logoVariational$2.21MEXC logoMEXC$2.21 +0.10%-0.06% +0.10%— +0.009%— LS Chart →
Variational logoVariational$2.21Bitget logoBitget$2.21 +0.09%-0.07% +0.10%— +0.014%— LS Chart →
Hyperliquid logoHyperliquid$2.21KuCoin logoKuCoin$2.22 +0.09%-0.07% +0.09%— 0.000%— LS Chart →
Binance logoBinance$2.21KuCoin logoKuCoin$2.22 +0.08%-0.08% +0.08%— +0.005%— LS Chart →
Bybit logoBybit$2.21KuCoin logoKuCoin$2.22 +0.07%-0.09% +0.08%— +0.016%— LS Chart →
Gate logoGate$2.21KuCoin logoKuCoin$2.22 +0.07%-0.09% +0.08%— +0.021%— LS Chart →
MEXC logoMEXC$2.21KuCoin logoKuCoin$2.22 +0.06%-0.10% +0.06%— +0.006%— LS Chart →
Aster logoAster$2.21KuCoin logoKuCoin$2.22 +0.06%-0.10% +0.06%— 0.000%— LS Chart →
Variational logoVariational$2.21Binance logoBinance$2.21 +0.06%-0.10% +0.06%— +0.009%— LS Chart →
OKX logoOKX$2.21MEXC logoMEXC$2.21 +0.05%-0.11% +0.06%— -0.006%— LS Chart →
OKX logoOKX$2.21Bitget logoBitget$2.21 +0.05%-0.11% +0.05%— 0.000%— LS Chart →
Bitget logoBitget$2.21KuCoin logoKuCoin$2.22 +0.03%-0.13% +0.03%— 0.000%— LS Chart →
Hyperliquid logoHyperliquid$2.21MEXC logoMEXC$2.21 +0.02%-0.14% +0.03%— -0.006%— LS Chart →
Long = where you buy, Short = where you sell. Net subtracts a two-leg taker fee model; Spread+F adds the next funding payment.Updates every 15 seconds. Not investment advice.

PENDLE price on every exchange

ExchangeMarketBidAskPricevs medianFunding 24hVolume 24h
Bybit logoBybitPerpetual · PENDLEUSDTPerpetual $2.21$2.21$2.21-0.07% +0.014%$9.61M
Hyperliquid logoHyperliquidPerpetual · PENDLEPerpetual $2.21$2.21$2.21-0.07% +0.030%$4.97M
OKX logoOKXPerpetual · PENDLE-USDT-SWAPPerpetual $2.21$2.21$2.21-0.09% +0.030%$4.41M
MEXC logoMEXCPerpetual · PENDLE_USDTPerpetual $2.21$2.21$2.21-0.01% +0.024%$4.16M
Bitget logoBitgetPerpetual · PENDLEUSDTPerpetual $2.21$2.21$2.210.00% +0.030%$3.13M
OKX logoOKXSpot · PENDLE-USDTSpot $2.21$2.22$2.22+0.02% —$1.86M
Bybit logoBybitSpot · PENDLEUSDTSpot $2.21$2.22$2.22+0.02% —$1.10M
KuCoin logoKuCoinPerpetual · PENDLEUSDTMPerpetual $2.22$2.22$2.22+0.09% +0.030%$954.2K
Gate logoGatePerpetual · PENDLE_USDTPerpetual $2.21$2.21$2.21-0.07% +0.009%$473.6K
Variational logoVariationalPerpetual · PENDLEPerpetual $2.21$2.21$2.21-0.18% +0.016%$352.6K
KuCoin logoKuCoinSpot · PENDLE-USDTSpot $2.22$2.22$2.22+0.08% —$342.2K
Gate logoGateSpot · PENDLE_USDTSpot $2.22$2.22$2.22+0.05% —$330.0K
Bitget logoBitgetSpot · PENDLEUSDTSpot $2.22$2.22$2.22+0.09% —$247.3K
Binance logoBinancePerpetual · PENDLEUSDTPerpetual $2.21$2.21$2.21-0.04% +0.025%—
Aster logoAsterPerpetual · PENDLEUSDTPerpetual $2.21$2.21$2.21-0.05% +0.030%—
Binance logoBinanceSpot · PENDLEUSDTSpot $2.21$2.22$2.22+0.02% ——
MEXC logoMEXCSpot · PENDLEUSDTSpot $2.21$2.22$2.22+0.02% ——
Price is the bid/ask midpoint. "vs median" compares each market with the median of all centralized venues.

PENDLE arbitrage explained

Right now Pendle (PENDLE) trades on 10 venues we scan: 10 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Variational perp at $2.21 and the highest bid on Bitget spot at $2.22.

The widest PENDLE perpetual spread is between Variational and KuCoin: long PENDLE on Variational at $2.21 and short on KuCoin at $2.22 for +0.17% gross, or +0.01% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is +0.014% per day, which the position collects while it is open.

For a spot–perpetual (cash-and-carry) trade, the best PENDLE route is to buy spot on Binance and short the perpetual on KuCoin: -0.02% gross, -0.22% net, with +0.030% a day of funding on the short leg.

Spot–spot PENDLE arbitrage (buy on Binance, withdraw, deposit and sell on Bitget) shows 0.00% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.

Small PENDLE gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.

Related: PENDLE funding rates · PENDLE spread charts · Pendle price · arbitrage scanner for all coins.

Is there a PENDLE arbitrage opportunity right now?

The best PENDLE route right now is to buy on Variational → sell on KuCoin (Perp–Perp): +0.17% gross and +0.01% after fees. It is positive after the fee model, but check depth and funding before trading.

Which exchange has the cheapest PENDLE?

Variational (perp) has the lowest PENDLE ask at $2.21, and Bitget (spot) the highest bid at $2.22. Prices update every 15 seconds on this page.

How many exchanges list PENDLE?

ArbiLayer tracks 17 PENDLE markets on 10 venues: 10 perpetual, 7 spot and 0 DEX pools.

How do I arbitrage PENDLE without transferring coins?

Use two perpetual contracts: go long PENDLE on the cheaper exchange (Variational now) and short it on the more expensive one (KuCoin), then close both legs when the spread converges. The coins never move between exchanges.

Arbitrage for other coins

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