Live Data

Pendle Perpetual Futures

Pendle Perpetual Futures — Live Data

Market Overview

Pendle is a yield tokenization protocol that enables trading of future yield through principal and yield token separation. PENDLE perpetual futures are available on major centralized exchanges. PENDLE perps have seen growing volume as the yield trading narrative expands, particularly around LST and restaking yields that create new markets on the Pendle platform.

Pendle splits yield-bearing assets into principal and yield legs, effectively creating a tradable interest-rate market on-chain. PENDLE perps therefore behave as a leveraged bet on the crypto rates narrative: activity in the underlying protocol rises when yield trading is in demand, and the token tends to amplify that cycle.

Trading Tips for Pendle Perps

PENDLE TVL and volume spike when new high-yield pools launch, especially around restaking and points farming seasons. Monitor new market listings on Pendle — a high-profile pool like an EigenLayer-related market can drive both TVL and PENDLE price sharply higher.

Where to Trade Pendle Perpetual Futures

Pendle perpetual futures are available on 9 exchanges. The venue cards compare fees, leverage, and features for trading PENDLE perps.

Hyperliquid

Hyperliquid L1

Maker Fee

0.015%

Taker Fee

0.045%

Max Leverage

40x

Rating

9.2/10

Trade PENDLE Review

dYdX

dYdX Chain (Cosmos)

Maker Fee

0.010%

Taker Fee

0.050%

Max Leverage

50x

Rating

9.0/10

Trade PENDLE Review

Gains Network

Arbitrum, Base, Polygon, ApeChain, MegaETH, Solana

Position Fee

0.035% when opening and again when closing; BTC and ETH review rate; other pairs can use different fees and spreads

Max Leverage

1000x

Rating

8.0/10

Trade PENDLE Review

Bluefin

Sui

Maker Fee

0.010%

Taker Fee

0.035%

Max Leverage

50x

Rating

8.0/10

Trade PENDLE Review

SynFutures

Base

Maker Fee

0.010%

Taker Fee

0.020%

Max Leverage

100x

Rating

7.8/10

Trade PENDLE Review

Orderly Network

NEAR, Arbitrum, Optimism, Base, Polygon, Ethereum, Mantle, Avalanche, Solana, SEI

Maker Fee

Free

Taker Fee

0.030%

Max Leverage

50x

Rating

7.8/10

Trade PENDLE Review

DESK

Arbitrum, Base

Maker Fee

-0.010%

Taker Fee

0.017%

Max Leverage

1000x

Rating

7.8/10

Trade PENDLE Review

Aevo

Aevo L2

Maker Fee

0.050%

Taker Fee

0.080%

Max Leverage

20x

Rating

7.5/10

Trade PENDLE Review

Aster

BNB Chain

Maker Fee

Free

Taker Fee

0.040%

Max Leverage

100x

Rating

7.5/10

Trade PENDLE Review

Frequently Asked Questions — Pendle

What is the current PENDLE perpetual futures funding rate?▼

The live Pendle funding-rate panel updates every 2 minutes. It shows annualized rates for each exchange that lists PENDLE perps. A positive rate means long traders pay short traders, while a negative rate means shorts pay longs.

Which exchange has the lowest PENDLE perp trading fees?▼

Among 8 tracked PENDLE venues with comparable order-book schedules, DESK lists the lowest taker fee at 0.017%. SynFutures lists 0.020%. 1 position-fee venue is excluded from this maker/taker result. Use the cost comparison for total cost.

How does Pendle open interest compare across exchanges?▼

The Pendle open-interest chart shows the total value of outstanding PENDLE derivative contracts on each exchange. Rising open interest indicates new capital entering the market, while declining OI suggests positions are being closed.

What does the PENDLE long/short ratio indicate?▼

The Pendle long/short ratio shows the balance between traders betting on price increases (longs) versus decreases (shorts) across exchanges. An extreme ratio in either direction can signal potential reversals as crowded positioning often leads to liquidation cascades.

Where can I trade PENDLE perpetual futures?▼

Pendle perps are listed on 9 exchanges, including Hyperliquid, dYdX, Gains Network, Bluefin, and SynFutures, plus 4 more. The "Where to Trade Pendle Perpetual Futures" section compares fees and leverage limits and gives a direct trading link for each venue.

Category: DeFi · Data updates every 2 minutes · All rates shown are annualized

Funding Rates Open Interest Liquidations Fee Comparison Exchange Deals

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