PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.1988%/8h= +217.7% APRnext payment +$2.49 per $10,000 · paid last 24h +0.669%

Price spread now: Coinbase International against Backpack+0.832%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+1.932%+$193 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$60 a day on $10k at the current rate, and Coinbase International is 0.832% dearer against Backpack than usual: you sell high and buy low: +$83 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack PENGU_USDC_PERP	0.009135	0.0100	pay 0.0013% / 1h	40m 24s	$314K	$388K	10x
Short	Coinbase International PENGU-PERP-INTX	0.009211	0.2088	get 0.0261% / 1h	40m 24s	$81K	$74K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

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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 Coinbase InternationalbpOrdersPrice spread, now +0.832%Rate

Funding earned: $417.48
Price spread: +0.832% → 0.000%: $83.2
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $480.68
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: Backpack: live order book, 58 min ago; Coinbase International: no order-book sample. Net counts fees only.

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, 58 min ago	0.55 bp	10.0 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0088%	4h	0.009100	−0.383%	$3.7M	$17.8M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009107	−0.309%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.788%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009140	+0.055%	$331K	$750K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009116	−0.208%	$9.3M	$16.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009106	−0.322%	$132K	$752K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009129	−0.066%	$138K	$274K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009110	−0.271%	$40.2M	$196.7M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009103	−0.350%	$24.6M	$46.8M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009104	−0.339%	$8.3M	$58.1M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PENGU-USD	+0.0100%	1h	0.009120	−0.164%	$19K	$26K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009101	−0.372%	$11.6M	$13.0M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009107	−0.307%	$5.1M	$10.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009126	−0.099%	$8.9M	$15.1M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009103	−0.350%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERPlong	+0.0100%	1h	0.009135	long leg	$314K	$388K	10x
Variational Omni PENGU	+0.0100%	4h	0.009139	+0.044%	$944K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009127	−0.090%	$483K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009145	+0.109%	$80K	$252K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009101	−0.367%	$647K	$1.1M	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009113	−0.241%	$23K	$324K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009376	+2.638%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009145	+0.109%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009174	+0.427%	$95K	$414K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009123	−0.133%	$191K	$744K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009112	−0.252%	$210K	—	3x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0189%	1h	0.009117	−0.197%	$1K	$29K	10x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009098	−0.405%	$307	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009164	+0.317%	$1.6M	$5.3M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0377%	1h	0.009150	+0.163%	$352K	$2.7M	50x	as long as short
01 Exchange PENGUUSD	+0.0384%	1h	0.009129	−0.066%	$209	$41	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0432% / S −0.0351%	1h	0.009153	+0.197%	$104K	—	100x	as long as short
dYdX PENGU-USD	+0.1666%	1h	0.009132	−0.033%	$12K	$6K	5x	as long as short
Coinbase International PENGU-PERP-INTXshort	+0.2088%	1h	0.009211	+0.832%	$81K	$74K	50x