PENDLE arbitrage between HyperLiquid and HTX: we compare the price of PENDLE on HyperLiquid (futures) and HTX (spot) in real time — the executable spread (buy at the ask, sell at the bid), basis, volume and deposit/withdrawal status. You can see whether the gap holds or is a one-second blip you would never get into.

About Pendle

Pendle is a protocol that enables the tokenization and trading of future yield. With the creation of a novel AMM that supports assets with time decay, Pendle gives users more control over future yield by providing optionality and opportunities for its utilization.

Decentralized Exchange (DEX), Exchange-based Tokens, Decentralized Finance (DeFi), Yield Farming

PENDLE: HTX — deposit open, withdrawal open.

Open interest in PENDLE right now — $40.2M: Binance $11.1M, BingX $10.4M, Bybit $8.0M, HyperLiquid $5.9M, Bitget $1.8M. See OI PENDLE.

News about PENDLE

Pendle Finance adds PT-USDai and PT-sUSDD on Morpho with up to 27% APY

About PENDLE arbitrage

How do I read the PENDLE spread?

The spread is how many percent higher PENDLE trades on one exchange than on the other. We measure it at tradeable prices (ask/bid) net of fees; “net” is closer to what you actually keep.

Is this arbitrage worth taking?

Look past the spread: check volume, order-book depth and the deposit/withdrawal status on HyperLiquid and HTX. If deposits or withdrawals are shut, or the book is thin, the spread exists on paper but you cannot trade into it.

How do I get PENDLE alerts?

Build a rule in the the builder with the spread threshold you want — the notification arrives as a Telegram direct message within seconds.