PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.036%

Price spread now: Deribit against Backpack+0.080%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 Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.080% dearer against Backpack than usual: you sell high and buy low (spread +0.080% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack PENGU_USDC_PERP	0.008799	0.0100	pay 0.0013% / 1h	19m 19s	$300K	$293K	10x
Short	Deribit PENGU_USDC-PERPETUAL	0.008806	0	get 0.0000% / 1h	19m 19s	$18K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.080%Rate

Funding earned: −$21
Price spread: +0.080% → 0.000%: $7.96
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$30.04
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 44 min ago; Deribit: 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, 44 min ago	1.14 bp	14.3 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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
01 Exchange PENGUUSD	−0.0040%	1h	0.008803	+0.045%	$201	$64	5x	as long as short
Gate PENGU_USDT	0.0000%	4h	0.008788	−0.125%	$3.3M	$15.7M	75x	as long as short
Deribit PENGU_USDC-PERPETUALshort	0.0000%	1h	0.008806	+0.080%	$18K	$10K	10x
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008790	−0.105%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.114%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008803	+0.045%	$313K	$712K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008786	−0.148%	$23K	$165K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008796	−0.034%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008801	+0.020%	$121K	$578K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008799	0.000%	$155K	$243K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.008792	−0.074%	$36.7M	$160.4M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008782	−0.193%	$23.3M	$38.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008783	−0.182%	$7.4M	$46.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008800	+0.011%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008793	−0.068%	$11.4M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008793	−0.068%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008794	−0.057%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008791	−0.091%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERPlong	+0.0100%	1h	0.008799	long leg	$300K	$293K	10x
Variational Omni PENGU	+0.0100%	4h	0.008794	−0.058%	$874K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008777	−0.251%	$458K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008800	+0.011%	$80K	$243K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008790	−0.097%	$590K	$1.0M	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009009	+2.387%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008802	+0.034%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008812	+0.148%	$92K	$354K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008794	−0.060%	$185K	$945K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008797	−0.023%	$203K	—	3x	as long as short
dYdX PENGU-USD	+0.0228%	1h	0.008800	+0.014%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008791	−0.092%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008803	+0.045%	$1.5M	$3.4M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0556% / S −0.0662%	1h	0.008788	−0.125%	$132K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0646%	1h	0.008810	+0.127%	$354K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+1.909%	$95K	$94K	50x	as long as short