PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0120%/8h= +13.2% APRnext payment +$0.15 per $10,000 · paid last 24h +0.384%

Price spread now: dYdX against Backpack+0.402%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 dYdX

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

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and dYdX is 0.402% dearer against Backpack than usual: you sell high and buy low: +$40 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	0.008776	−0.0055	get 0.0007% / 1h	43m 17s	$308K	$311K	10x
Short	dYdX PENGU-USD	0.008811	0.0065	get 0.0008% / 1h	43m 17s	$12K	$4K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.402%Rate

Funding earned: $25.25
Price spread: +0.402% → 0.000%: $40.22
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: $45.46
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: Backpack: live order book, 30 min ago; dYdX: 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, 30 min ago	0.57 bp	8.4 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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
Kraken Futures PF_PENGUUSD	−0.0391%	1h	0.008835	+0.669%	$370K	$2.3M	50x	as long as short
Gate PENGU_USDT	−0.0328%	4h	0.008814	+0.433%	$3.4M	$15.5M	75x	as long as short
Variational Omni PENGU	−0.0298%	4h	0.008761	−0.169%	$867K	$931K	—	as long as short
01 Exchange PENGUUSD	−0.0232%	1h	0.008814	+0.433%	$202	$59	5x	as long as short
Bybit PENGUUSDT	−0.0176%	4h	0.008819	+0.490%	$23.0M	$37.1M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0090%	1h	0.008826	+0.570%	$18K	$10K	10x	as long as short
Backpack PENGU_USDC_PERPlong	−0.0055%	1h	0.008776	long leg	$308K	$311K	10x
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008827	+0.583%	$34K	—	150x	as long as short
GRVT PENGU_USDT_Perp	+0.0024%	4h	0.008798	+0.251%	$466K	$2.1M	10x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.148%	$3K	$117K	5.5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PENGU-PERP	+0.0044%	1h	0.008813	+0.427%	$699K	$773K	5x	as long as short
dYdX PENGU-USDshort	+0.0065%	1h	0.008811	+0.402%	$12K	$4K	5x
Lighter PENGU	+0.0096%	1h	0.008828	+0.593%	$309K	$727K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008827	+0.581%	$24K	$184K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008820	+0.501%	$8.3M	$15.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008825	+0.562%	$189K	$481K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008809	+0.376%	$152K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008826	+0.573%	$36.9M	$155.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008825	+0.558%	$7.6M	$47.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008820	+0.501%	$19K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008823	+0.536%	$12.4M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008825	+0.558%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008828	+0.593%	$8.4M	$12.7M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008822	+0.524%	—	$3.9M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008789	+0.148%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009010	+2.666%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008824	+0.547%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008825	+0.558%	$90K	$295K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008823	+0.537%	$182K	$789K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008825	+0.558%	$204K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008819	+0.494%	$298	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008823	+0.536%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0499% / S −0.0683%	1h	0.008827	+0.581%	$111K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.008808	+0.365%	$94K	$102K	50x	as long as short