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 +0.019%

Price spread now: Extended against Backpack+0.053%7-day average −0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$600.598% of the position

Long on Backpack Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.070%+$7 on $10k

Price spread, last 4 days (all we have)−0.162%−$16 · spread now +0.053%, 7d avg −0.032%

Together, before fees−0.093%+ Points / potential airdropExtended: Active · farm board−$9 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: Extended is 0.085% dearer against Backpack than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack PENGU_USDC_PERP	0.008828	0.0100	pay 0.0013% / 1h	31m 29s	$293K	$314K	10x
Short	Extended PENGU-USD	0.008833	0.0104	get 0.0013% / 1h	31m 29s	$181K	$943K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.053%Rate

Funding earned: $0.84
Price spread: +0.053% → −0.032%: $8.53
Slippage, 4 orders: −$44.81
Fee Backpack: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$50.44
Costs to cover: 0.598%
Break-even: 427.4 days

Slippage from Backpack: live order book, 27 min ago; Extended: live order book, 27 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, 27 min ago	0.57 bp	15.2 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 27 min ago	0.57 bp	9.9 bp −$10	91.7 bp −$917	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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008825	−0.034%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008834	+0.072%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.442%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDT	+0.0058%	4h	0.008833	+0.057%	$3.3M	$15.6M	75x	as long as short
01 Exchange PENGUUSD	+0.0072%	1h	0.008839	+0.125%	$202	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008844	+0.181%	$314K	$717K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008838	+0.113%	$23K	$124K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008839	+0.125%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008836	+0.087%	$122K	$579K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008839	+0.125%	$155K	$241K	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	0.008837	+0.102%	$37.0M	$162.3M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008834	+0.068%	$23.4M	$39.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008835	+0.079%	$7.4M	$47.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008840	+0.136%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008838	+0.113%	$11.0M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008838	+0.113%	$4.9M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008836	+0.091%	$8.3M	$12.3M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008836	+0.091%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERPlong	+0.0100%	1h	0.008828	long leg	$293K	$314K	10x
Variational Omni PENGU	+0.0100%	4h	0.008716	−1.269%	$866K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008750	−0.884%	$456K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008788	−0.453%	$80K	$242K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008833	+0.051%	$594K	$1.0M	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009040	+2.401%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008825	−0.034%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008820	−0.091%	$92K	$371K	25x	as long as short
Extended PENGU-USDshort	+0.0104%	1h	0.008833	+0.053%	$181K	$943K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008815	−0.147%	$204K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008836	+0.087%	$298	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008794	−0.385%	$1.5M	$3.5M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0363%	1h	0.008833	+0.052%	$346K	$2.4M	50x	as long as short
dYdX PENGU-USD	+0.0478%	1h	0.008836	+0.095%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0515% / S −0.0584%	1h	0.008834	+0.068%	$120K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008822	−0.068%	$94K	$60K	50x	as long as short