PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0196%/8h= −21.5% APRnext payment −$0.98 per $10,000 · paid last 24h −0.035%

Price spread now: Gate against BingX−0.069%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$530.528% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.117%−$12 on $10k

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 −$6 a day on $10k at the current rate, and Gate is 0.069% cheaper against BingX than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.117% in total (about -6.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.98 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PENGU-USDT	0.008753	0.0100	pay 0.0050% / 4h	2h 57m	—	$3.8M	—
Short	Gate PENGU_USDT	0.008747	−0.0096	pay 0.0048% / 4h	2h 57m	$3.4M	$15.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against BingX. 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 BingXbpFee GatebpOrdersPrice spread, now −0.069%Rate

Funding earned: −$41.16
Price spread: −0.069% → 0.000%: −$6.85
Slippage, 4 orders: −$27.78
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$100.8
Costs to cover: 0.528%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; Gate: live order book, 2 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 BingX live order book, 7 min ago	0.56 bp	9.3 bp −$9	15.2 bp −$152	55.6 bp −$5,563	349.5 bp −$174.7K
Sell Gate live order book, 2 min ago	3.99 bp	18.4 bp −$18	48.5 bp −$485	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
Nado PENGU-PERP	−0.0347%	1h	0.008790	+0.423%	$534K	$893K	5x	as long as short
Variational Omni PENGU	−0.0119%	4h	0.008792	+0.445%	$873K	$1.0M	—	as long as short
Gate PENGU_USDTshort	−0.0096%	4h	0.008747	−0.069%	$3.4M	$15.2M	75x
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008778	+0.286%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008783	+0.343%	$32K	—	150x	as long as short
01 Exchange PENGUUSD	+0.0032%	1h	0.008794	+0.468%	$201	$59	5x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.411%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0093%	1h	0.008790	+0.418%	$12K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008778	+0.286%	$305K	$698K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0098%	4h	0.008778	+0.286%	$19K	$178K	20x	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	0.008753	0.000%	$8.2M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008791	+0.430%	$169K	$485K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008790	+0.423%	$152K	$240K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008769	+0.186%	$37.1M	$157.3M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008746	−0.080%	$22.8M	$37.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008744	−0.103%	$7.5M	$47.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008800	+0.537%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008755	+0.023%	$12.5M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008756	+0.034%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008752	−0.011%	$8.3M	$12.7M	75x	as long as short
BingX PENGU-USDTlong	+0.0100%	4h	0.008753	long leg	—	$3.8M	—
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008755	+0.023%	$300K	$327K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008785	+0.367%	$459K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008794	+0.468%	$80K	$249K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008983	+2.628%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008770	+0.194%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008795	+0.480%	$90K	$299K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008770	+0.198%	$181K	$940K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008766	+0.149%	$202K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0211%	1h	0.008779	+0.296%	$363K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008783	+0.346%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008772	+0.217%	$1.5M	$3.2M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0500% / S −0.0683%	1h	0.008778	+0.286%	$111K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+2.445%	$95K	$104K	50x	as long as short