PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0097%/8h= −10.6% APRnext payment −$0.12 per $10,000 · paid last 24h +0.003%

Price spread now: gTrade (Gains Network) against Backpack−0.132%7-day average — · you buy dearer than you sell

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

Long on Backpack Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 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 against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.132% cheaper against Backpack than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack PENGU_USDC_PERP	0.008785	0.0100	pay 0.0013% / 1h	51m 28s	$313K	$310K	10x
Short	gTrade (Gains Network) PENGU/USD	0.008773	L +0.0007% / S −0.0003%	get 0.0000% / 1h	51m 28s	$33K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.132%Rate

Funding earned: −$20.35
Price spread: −0.132% → 0.000%: −$13.23
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$53.58
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 32 min ago; gTrade (Gains Network): 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, 32 min ago	0.57 bp	14.7 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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	−0.0607%	1h	0.008790	+0.056%	$388K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0274%	4h	0.008767	−0.205%	$3.4M	$15.5M	75x	as long as short
01 Exchange PENGUUSD	−0.0096%	1h	0.008774	−0.125%	$201	$59	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0091%	1h	0.008783	−0.023%	$19K	$9K	10x	as long as short
gTrade (Gains Network) PENGU/USDshort	L +0.0007% / S −0.0003%	1h	0.008773	−0.132%	$33K	—	150x
Bybit PENGUUSDT	+0.0010%	4h	0.008762	−0.262%	$22.7M	$36.0M	75x	as long as short
dYdX PENGU-USD	+0.0029%	1h	0.008777	−0.096%	$12K	$4K	5x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008715	−0.797%	$3K	$81K	5.5x	as long as short
Nado PENGU-PERP	+0.0047%	1h	0.008769	−0.176%	$679K	$758K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008772	−0.148%	$300K	$726K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008774	−0.125%	$8.7M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008779	−0.073%	$173K	$449K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008772	−0.148%	$148K	$236K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008771	−0.159%	$36.3M	$151.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008768	−0.194%	$7.7M	$46.9M	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	0.008770	−0.171%	$13.1M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008773	−0.137%	$4.8M	$8.8M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008773	−0.137%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008767	−0.205%	—	$3.9M	—	as long as short
Backpack PENGU_USDC_PERPlong	+0.0100%	1h	0.008785	long leg	$313K	$310K	10x
Variational Omni PENGU	+0.0100%	4h	0.008727	−0.663%	$805K	$726K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008769	−0.181%	$459K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008763	−0.250%	$80K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008786	+0.011%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008993	+2.368%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008782	−0.034%	$998	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008781	−0.046%	$92K	$250K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008768	−0.192%	$180K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008780	−0.057%	$203K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008767	−0.204%	$296	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008769	−0.182%	$1.5M	$2.7M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0506% / S −0.0703%	1h	0.008774	−0.125%	$113K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008799	+0.159%	$93K	$100K	50x	as long as short