PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h +0.021%

Price spread now: Aevo against Backpack−0.069%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$127as in the Funding arb table

Net, price: spread back to 7d avg − costs−$142as in the Price arb table

costs, in and out, $10k−$1361.359% of the position

Long on Backpack Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.086%+$9 on $10k

Price spread, last 4 days (all we have)+0.170%+$17 · spread now −0.069%, 7d avg −0.008%

Together, before fees+0.256%+$26 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aevo is 0.060% cheaper against Backpack than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack PENGU_USDC_PERP	0.008755	0.0100	pay 0.0013% / 1h	56m 07s	$299K	$295K	10x
Short	Aevo PENGU-PERP	0.008749	0.0104	get 0.0013% / 1h	56m 07s	$202K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Backpack. 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 BackpackbpFee AevobpOrdersPrice spread, now −0.069%Rate

Funding earned: $0.84
Price spread: −0.069% → −0.008%: −$6.01
Slippage, 4 orders: −$109.9
Fee Backpack: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$141.08
Costs to cover: 1.359%
Break-even: 1182.7 days

Slippage from Backpack: live order book, 2 min ago; Aevo: live order book, 3 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 Backpack live order book, 2 min ago	0.57 bp	15.2 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Aevo live order book, 3 min ago	11.44 bp	35.7 bp −$36	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
Gate PENGU_USDT	0.0000%	4h	0.008753	−0.023%	$3.3M	$15.5M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008750	−0.057%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008752	−0.034%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.388%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0064%	1h	0.008766	+0.126%	$201	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008755	0.000%	$311K	$712K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008751	−0.046%	$23K	$134K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008776	+0.246%	$588K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008756	+0.011%	$8.1M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008774	+0.211%	$121K	$579K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008764	+0.103%	$154K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008757	+0.021%	$36.5M	$161.3M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008751	−0.046%	$23.2M	$39.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008752	−0.034%	$7.2M	$46.8M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008770	+0.171%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008756	+0.011%	$11.2M	$12.2M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008756	+0.011%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008756	+0.011%	$8.2M	$12.3M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008753	−0.023%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERPlong	+0.0100%	1h	0.008755	long leg	$299K	$295K	10x
Variational Omni PENGU	+0.0100%	4h	0.008730	−0.289%	$867K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008741	−0.166%	$459K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008735	−0.228%	$80K	$242K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008966	+2.410%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008751	−0.046%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008766	+0.126%	$92K	$371K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008746	−0.108%	$184K	$942K	10x	as long as short
Aevo PENGU-PERPshort	+0.0104%	1h	0.008749	−0.069%	$202K	—	3x
Reya PENGURUSDPERP	+0.0239%	1h	0.008773	+0.209%	$296	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008733	−0.251%	$1.5M	$3.5M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0366%	1h	0.008760	+0.060%	$343K	$2.3M	50x	as long as short
dYdX PENGU-USD	+0.0377%	1h	0.008762	+0.083%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0439%	1h	0.008763	+0.091%	$129K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008967	+2.421%	$95K	$61K	50x	as long as short