PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0016%/8h= −1.8% APRnext payment −$0.08 per $10,000 · paid last 24h −0.020%

Price spread now: GRVT against Bitget+0.195%83s7-day average −0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$460.461% of the position

Long on Bitget Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.085%−$9 on $10k

Price spread, last 7 days−0.221%−$22 · spread now +0.195%, 7d avg −0.045%

Together, before fees−0.306%+ Points / potential airdropGRVT: Active · farm board−$31 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GRVT is 0.240% dearer against Bitget than usual: you sell high and buy low (spread +0.195% now, against its 7-day average of −0.045%): +$24 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 50 days. At the pace of the last 7 days (−0.085% in total) that is about 20 days. The two prices were read 83 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENGUUSDT	0.008724	0.0100	pay 0.0050% / 4h	12m 00s	$8.3M	$12.6M	75x
Short	GRVT PENGU_USDT_Perp	0.008741	0.0084	get 0.0042% / 4h	12m 00s	$457K	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Bitget. 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 BitgetbpFee GRVTbpOrdersPrice spread, now +0.195%Rate

Funding earned: −$3.36
Price spread: +0.195% → −0.045%: $24.03
Slippage, 4 orders: −$25.12
Fee Bitget: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$25.45
Costs to cover: 0.461%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; GRVT: 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 Bitget live order book, 2 min ago	1.14 bp	11.7 bp −$12	24.8 bp −$248	74.6 bp −$7,460	doesn't fit
Sell GRVT live order book, 2 min ago	1.72 bp	10.6 bp −$11	21.4 bp −$214	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
Kraken Futures PF_PENGUUSD	−0.0343%	1h	0.008728	+0.048%	$366K	$2.3M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0323%	1h	0.008722	−0.023%	$19K	$9K	10x	as long as short
Bybit PENGUUSDT	−0.0320%	4h	0.008720	−0.046%	$22.8M	$36.9M	75x	as long as short
Gate PENGU_USDT	−0.0308%	4h	0.008718	−0.069%	$3.4M	$15.7M	75x	as long as short
Variational Omni PENGU	−0.0295%	4h	0.008731	+0.083%	$767K	$832K	—	as long as short
01 Exchange PENGUUSD	−0.0272%	1h	0.008719	−0.057%	$199	$59	5x	as long as short
Backpack PENGU_USDC_PERP	−0.0183%	1h	0.008719	−0.057%	$306K	$315K	10x	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	+0.745%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	−0.0020%	1h	0.008729	+0.052%	$694K	$777K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008729	+0.057%	$33K	—	150x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENGU-USD	+0.0019%	1h	0.008732	+0.092%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perpshort	+0.0084%	4h	0.008741	+0.195%	$457K	$2.1M	10x
Lighter PENGU	+0.0096%	1h	0.008722	−0.023%	$305K	$741K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008723	−0.011%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008722	−0.023%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008728	+0.050%	$187K	$474K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008728	+0.046%	$151K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008722	−0.023%	$36.1M	$155.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008726	+0.023%	$7.5M	$46.9M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008730	+0.069%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008720	−0.046%	$12.3M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008723	−0.011%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDTlong	+0.0100%	4h	0.008724	long leg	$8.3M	$12.6M	75x
BingX PENGU-USDC	+0.0100%	4h	0.008720	−0.046%	—	$2.3M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008724	0.000%	$79K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008935	+2.419%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008718	−0.069%	$998	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008749	+0.287%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008718	−0.071%	$180K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008717	−0.080%	$201K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008725	+0.016%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008721	−0.034%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0496% / S −0.0683%	1h	0.008731	+0.080%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008768	+0.504%	$93K	$103K	50x	as long as short