PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0240%/8h= −26.3% APRnext payment −$1.20 per $10,000 · paid last 24h −0.073%

Price spread now: GRVT against BloFin−0.195%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$500.495% of the position

Long on BloFin Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.528%−$53 on $10k

Price spread, last 4 days (all we have)−0.009%−$1 · spread now −0.195%, 7d avg −0.040%

Together, before fees−0.537%+ Points / potential airdropGRVT: Active · farm board−$54 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and GRVT is 0.155% cheaper against BloFin than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.040%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PENGU-USDT	0.008871	0.0340	pay 0.0170% / 4h	28m 21s	$1.5M	$3.7M	75x
Short	GRVT PENGU_USDT_Perp	0.008854	0.0100	get 0.0050% / 4h	28m 21s	$461K	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against BloFin. 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 BloFinbpFee GRVTbpOrdersPrice spread, now −0.195%Rate

Funding earned: −$50.4
Price spread: −0.195% → −0.040%: −$15.49
Slippage, 4 orders: −$28.53
Fee BloFin: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$115.42
Costs to cover: 0.495%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; GRVT: live order book, 5 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 BloFin live order book, 5 min ago	1.14 bp	8.0 bp −$8	13.3 bp −$133	41.7 bp −$4,165	doesn't fit
Sell GRVT live order book, 5 min ago	1.71 bp	14.5 bp −$14	58.8 bp −$588	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	0.008865	−0.068%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008872	+0.016%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.924%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDT	+0.0072%	4h	0.008881	+0.113%	$3.3M	$15.7M	75x	as long as short
01 Exchange PENGUUSD	+0.0088%	1h	0.008899	+0.316%	$204	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008877	+0.068%	$316K	$718K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008862	−0.101%	$23K	$123K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008896	+0.282%	$599K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008904	+0.372%	$8.3M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008892	+0.239%	$123K	$589K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008892	+0.237%	$156K	$241K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008873	+0.022%	$37.1M	$162.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008867	−0.045%	$23.6M	$39.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008863	−0.090%	$7.4M	$47.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008900	+0.327%	$20K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008885	+0.158%	$11.0M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008898	+0.304%	$4.9M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008861	−0.113%	$8.3M	$12.3M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008887	+0.180%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008875	+0.045%	$294K	$309K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008831	−0.451%	$877K	$985K	—	as long as short
GRVT PENGU_USDT_Perpshort	+0.0100%	4h	0.008854	−0.195%	$461K	$2.1M	10x
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008788	−0.936%	$80K	$242K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009078	+2.333%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008861	−0.113%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008901	+0.338%	$93K	$371K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008886	+0.169%	$186K	$946K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008855	−0.180%	$205K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008905	+0.386%	$301	—	10x	as long as short
BloFin PENGU-USDTlong	+0.0340%	4h	0.008871	long leg	$1.5M	$3.7M	75x
Kraken Futures PF_PENGUUSD	+0.0360%	1h	0.008894	+0.259%	$348K	$2.3M	50x	as long as short
dYdX PENGU-USD	+0.0501%	1h	0.008887	+0.176%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0517% / S −0.0584%	1h	0.008874	+0.034%	$121K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008886	+0.169%	$95K	$61K	50x	as long as short