PENDLE Perpetual Futures

– 24h · perp mark price

Live · updated – Compare PENDLE exchanges

24h volume – vs prior 24h Open interest – · Funding rate (OI-weighted, 8h) – annualised Long / short ratio (24h) – long Liquidations (24h) – longs OI / market cap – Market cap –

Pendle price and derivatives history

Daily close and perpetual volume across tracked exchanges

Pendle perpetual futures market

Yield becomes a tradable asset on Pendle, a DeFi protocol that splits yield-bearing tokens into two parts. A principal token redeems for the underlying at maturity, and a yield token collects the income until then. Users lock in fixed rates or speculate on where yields are heading. PENDLE perps add leverage to a view on the protocol and let holders and liquidity providers hedge without unwinding locked or farmed positions.

Demand for yield drives this market. Points campaigns, high stablecoin yields such as those on Ethena's USDe and rate moves across DeFi pull deposits into Pendle, and deposits generate the fees that accrue to the protocol. Open interest is spread across Binance, Bybit, MEXC and Hyperliquid. Thin books on smaller venues mean leveraged moves can overshoot, so compare venues on the funding rates page when the market turns.

PENDLE funding rates PENDLE open interest PENDLE liquidations PENDLE long/short ratio

Ticker: PENDLE
Asset class: Crypto
Tracked markets: –
Most active venue: –
Funding intervals: –
Trading hours: 24/7
±1% order book depth: –

Pendle perpetual markets by exchange

Every tracked PENDLE perpetual market

#	Exchange	Price	24h	Volume 24h	Open interest	OI 24h	Funding 8h	L/S	Liq. 24h	±1% depth	Trade

Open interest by exchange

Share of total · 24h change

All OI

Liquidations by exchange

Last 24h · long vs short

All liquidations

Taker buy vs sell

Last 4h · buy share of taker volume

Long/short data

Pendle perpetual futures FAQ

Live answers use data from every tracked PENDLE perpetual markets · updated –

What is the PENDLE funding rate today?

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How much PENDLE open interest is there?

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What is Pendle?

Pendle is a yield-trading protocol that tokenises future yield. It wraps yield-bearing assets, such as liquid staking tokens or yield-earning stablecoins, and splits them into principal tokens (PT) and yield tokens (YT). PT trades at a discount and returns a fixed yield at maturity, while YT gives leveraged exposure to the variable yield.

What is PENDLE perpetual futures trading volume?

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Are traders long or short PENDLE right now?

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What is the difference between PT and YT on Pendle?

A principal token redeems for the underlying asset at maturity, so buying it at a discount locks in a fixed return. A yield token earns all the variable yield and any points until maturity, then expires worthless. Together the two are worth the same as the underlying asset.

What drives PENDLE's price?

PENDLE tracks how much capital uses the protocol and how much fee revenue it produces. Demand for fixed yield, points programmes and high stablecoin yields bring in deposits, while falling DeFi rates tend to shrink them. Broader DeFi sentiment and token emissions also play a part.

How much PENDLE was liquidated in the last 24 hours?

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How do holders hedge PENDLE with perps?

Holders who stake or lock PENDLE for governance and fee share cannot sell quickly, so a short perp position offsets price risk while the tokens stay committed. Liquidity providers earning PENDLE incentives use the same approach to protect the value of their rewards. This hedging can add short interest that is unrelated to bearish views.

What are PENDLE perpetual futures?

PENDLE perpetual futures are derivatives contracts that track the price of PENDLE and never expire. Instead of settling on a date, they use a funding rate to stay close to the spot price. You can go long or short with leverage without holding any PENDLE.

How does PENDLE funding work?

Funding is a payment between longs and shorts. When PENDLE perps trade above the index price, funding is positive and longs pay shorts. When they trade below it, shorts pay longs. Most exchanges settle every 8 hours and some, including Hyperliquid, settle every hour.

Where can I trade PENDLE perpetuals?

Compare venues, fees and features on the best perpetual exchanges page.

Should I long or short PENDLE?

Coinperps does not give trading advice. Funding, open interest, the long/short ratio and liquidations show how other traders are positioned, but crowded positioning can last longer than expected. Size positions so a liquidation would not hurt you.