Pendle updates PT Looping fees to lower costs for users
Pendle (PENDLE)
Editor:
Eugene Serbin
Cryptobriefing.com reports that Pendle has adjusted its fee structure for PT Looping to reduce expenses for users. The DeFi protocol switched from a flat fee model to a dynamic one capped at 10 basis points. This new system scales fees based on the yield a user stands to earn, targeting roughly 10% of projected yield with a maximum of 0.10%.
The previous model charged a flat 5 basis points on total notional assets plus trading fees and gas. Under the new rules, lower-yield loops become proportionally cheaper, while the cap remains at 10 basis points. For example, ten basis points on a $100K position equals $100.
PT Looping automates a strategy where users hold Principal Tokens, borrow against them on platforms like Aave or Morpho, and buy more PTs. Pendle previously ran incentive programs in August 2026 that provided an additional 2% APY boost. The fee structure update was announced on September 18, 2026. For active traders, the immediate effect is that running PT Looping strategies is cheaper in most scenarios.
How the market reacted
Whalio's own Binance spot order flow for PENDLE, measured when this story was written up on 21 September 2026. Not the outlet's figures.
Whalio data shows Pendle trading at $2.71 with a 24-hour buy ratio of 54.2%, indicating majority buying pressure over the day. However, shorter timeframes show weakening momentum, with the 1-hour buy ratio at 37.2% and the 4-hour ratio at 43.2%. Volume deltas reflect this shift, showing net selling of -$32,787 in the last hour and -$84,709 over four hours, compared to a positive $420,966 over 24 hours. The Cumulative Volume Delta closed at +$367,629, suggesting that earlier buying outweighed recent selling. Net buying occurred for 13 out of 24 hours, with spot volume reaching $4,952,856 across 48,145 trades. The data suggests that while the day ended with net inflows, immediate pressure has turned negative.
The latest daily buy ratio of 52.5% sits at the 82nd percentile of the last 323 days, against a median of 49.6% - stronger buying than most days.
Was that an ordinary day?
The same Binance spot measurements for PENDLE, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 49.7%, making today’s 54.2% reading an increase of 4.4 points above the norm. Spot volume was recorded at 0.78x the weekly average, indicating lower-than-usual activity. Only one day out of seven saw net buying, contrasting with today’s 13 hours of net inflows. The price rose 29.9% over eight days, supported by a total volume delta of +$243,366. This represents a day of above-average buying intensity despite lower overall volume compared to the weekly baseline.