PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h +0.036%

Price spread now: Backpack against Deribit+0.011%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit PENGU_USDC-PERPETUAL	0.008811	0	get 0.0000% / 1h	33m 39s	$18K	$10K	10x
Short	Backpack PENGU_USDC_PERP	0.008812	0.0100	get 0.0013% / 1h	33m 39s	$302K	$320K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Deribit. 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 DeribitbpFee BackpackbpOrdersPrice spread, now +0.011%Rate

Funding earned: $21
Price spread: +0.011% → 0.000%: $1.13
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: $5.13
Costs to cover: 0.170%
Break-even: 5.3 days

Slippage unknown: Deribit: no order-book sample; Backpack: live order book, 35 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell Backpack live order book, 35 min ago	0.56 bp	13.2 bp −$13	doesn't fit	doesn't fit	doesn't fit

Deribit: 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 33 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
Variational Omni PENGU	−0.0010%	4h	0.008770	−0.464%	$872K	$1.0M	—	as long as short
Gate PENGU_USDT	0.0000%	4h	0.008781	−0.340%	$3.4M	$15.5M	75x	as long as short
Deribit PENGU_USDC-PERPETUALlong	0.0000%	1h	0.008811	long leg	$18K	$10K	10x
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008812	+0.009%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.250%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0072%	1h	0.008785	−0.295%	$201	$64	5x	as long as short
Nado PENGU-PERP	+0.0077%	1h	0.008809	−0.020%	$593K	$991K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008794	−0.193%	$311K	$707K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008811	0.000%	$19K	$170K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008792	−0.216%	$8.2M	$14.9M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDT	+0.0100%	4h	0.008806	−0.058%	$168K	$506K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008790	−0.238%	$155K	$245K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008790	−0.238%	$37.5M	$157.7M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008780	−0.352%	$22.9M	$38.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008779	−0.363%	$7.5M	$47.6M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008780	−0.352%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008790	−0.238%	$12.0M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008790	−0.238%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008784	−0.306%	$8.3M	$12.7M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008784	−0.306%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERPshort	+0.0100%	1h	0.008812	+0.011%	$302K	$320K	10x
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008758	−0.602%	$457K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008761	−0.567%	$80K	$248K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009028	+2.463%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008812	+0.011%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008811	0.000%	$89K	$327K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008777	−0.384%	$181K	$939K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008805	−0.068%	$203K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0210%	1h	0.008820	+0.099%	$363K	$2.3M	50x	as long as short
dYdX PENGU-USD	+0.0238%	1h	0.008789	−0.253%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008810	−0.013%	$297	—	10x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0513% / S −0.0708%	1h	0.008812	+0.011%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+1.771%	$95K	$104K	50x	as long as short