PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.2584%/8h= +282.9% APRnext payment +$3.23 per $10,000 · paid last 24h +0.581%

Price spread now: Coinbase International against Aevo+0.538%7-day average +0.794% · you sell dearer than you buy

Net, funding: paid 7d − costs+$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$159as in the Price arb table

costs, in and out, $10k−$1331.333% of the position

Long on Aevo Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+1.701%+$170 on $10k

Price spread, last 3 days (all we have)−0.125%−$13 · spread now +0.538%, 7d avg +0.794%

Together, before fees+1.576%+$158 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.256% cheaper against Aevo than usual: you would sell low and buy high (spread +0.538% now, against its 7-day average of +0.794%). If the spread goes back, that is −$26 on $10k: about 8 hours of funding at the current rate (+$78 a day). At the pace of the last 7 days (+1.701% in total) that is about 25 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.701% in total (about 88.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.23 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENGU-PERP	0.008741	0.0104	pay 0.0013% / 1h	31m 18s	$202K	$17K	3x
Short	Coinbase International PENGU-PERP-INTX	0.008788	0.2688	get 0.0336% / 1h	31m 18s	$94K	$103K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Aevo. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee AevobpFee Coinbase InternationalbpOrdersPrice spread, now +0.538%Rate

Funding earned: $542.64
Price spread: +0.538% → +0.794%: −$25.62
Slippage, 4 orders: −$107.32
Fee Aevo: 8 bp × 2 orders: −$16
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $383.7
Costs to cover: 1.333%
Break-even: 2.1 days

Slippage from Aevo: live order book, 48 min ago; Coinbase International: live order book, 12 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Aevo live order book, 48 min ago	17.08 bp	44.6 bp −$45	257.2 bp −$2,572	doesn't fit	doesn't fit
Sell Coinbase International live order book, 12 min ago	18.74 bp	23.7 bp −$24	doesn't fit	doesn't fit	doesn't fit

PENGU on 34 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_PENGUUSD	−0.0342%	1h	0.008751	+0.120%	$368K	$2.3M	50x	as long as short
Gate PENGU_USDT	−0.0266%	4h	0.008743	+0.023%	$3.4M	$15.6M	75x	as long as short
Bybit PENGUUSDT	−0.0264%	4h	0.008741	0.000%	$22.7M	$36.7M	75x	as long as short
01 Exchange PENGUUSD	−0.0240%	1h	0.008741	0.000%	$200	$59	5x	as long as short
Variational Omni PENGU	−0.0209%	4h	0.008739	−0.017%	$798K	$802K	—	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	+0.549%	$3K	$117K	5.5x	as long as short
Backpack PENGU_USDC_PERP	−0.0112%	1h	0.008744	+0.034%	$312K	$313K	10x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0093%	1h	0.008748	+0.080%	$19K	$9K	10x	as long as short
Nado PENGU-PERP	−0.0003%	1h	0.008745	+0.051%	$694K	$774K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008752	+0.121%	$33K	—	150x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENGU-USD	+0.0028%	1h	0.008750	+0.106%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perp	+0.0094%	4h	0.008747	+0.071%	$458K	$2.1M	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008746	+0.057%	$306K	$741K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008750	+0.103%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008749	+0.092%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008752	+0.124%	$188K	$468K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008745	+0.046%	$151K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008749	+0.092%	$36.2M	$154.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008746	+0.057%	$7.5M	$46.9M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008750	+0.103%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008747	+0.069%	$12.4M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008749	+0.092%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008750	+0.103%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008736	−0.057%	—	$2.3M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008754	+0.149%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008959	+2.494%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008746	+0.057%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008764	+0.263%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008742	+0.011%	$180K	$622K	10x	as long as short
Aevo PENGU-PERPlong	+0.0104%	1h	0.008741	long leg	$202K	$17K	3x
Reya PENGURUSDPERP	+0.0238%	1h	0.008746	+0.058%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008748	+0.080%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0496% / S −0.0683%	1h	0.008751	+0.114%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTXshort	+0.2688%	1h	0.008788	+0.538%	$94K	$103K	50x