PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0311%/8h= −34.1% APRnext payment −$0.39 per $10,000 · paid last 24h +0.043%

Price spread now: Lighter against Deribit−0.098%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Lighter

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—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Lighter is 0.098% cheaper against Deribit than usual: you would sell low and buy high (−$10 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	Deribit PENGU_USDC-PERPETUAL	0.009142	0.0407	pay 0.0051% / 1h	44m 29s	$1K	$29K	10x
Short	Lighter PENGU	0.009133	0.0096	get 0.0012% / 1h	44m 29s	$327K	$769K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.098%Rate

Funding earned: −$65.31
Price spread: −0.098% → 0.000%: −$9.84
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$82.15
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; Lighter: live order book, 55 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 Lighter live order book, 55 min ago	5.52 bp	10.1 bp −$10	77.1 bp −$771	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 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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009134	−0.088%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.861%	$3K	$117K	5.5x	as long as short
Lighter PENGUshort	+0.0096%	1h	0.009133	−0.098%	$327K	$769K	8x
Nado PENGU-PERP	+0.0100%	1h	0.009114	−0.304%	$642K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009121	−0.230%	$9.2M	$16.4M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009123	−0.211%	$144K	$715K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009126	−0.175%	$138K	$264K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009126	−0.175%	$39.9M	$191.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009114	−0.306%	$24.4M	$44.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009107	−0.383%	$8.0M	$55.8M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PENGU-USD	+0.0100%	1h	0.009130	−0.131%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009120	−0.241%	$3.7M	$17.6M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009115	−0.295%	$10.9M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009116	−0.284%	$5.0M	$10.3M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009119	−0.252%	$8.8M	$14.1M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009121	−0.230%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009128	−0.153%	$297K	$371K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009112	−0.331%	$928K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009101	−0.453%	$482K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009065	−0.842%	$79K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009139	−0.033%	$24K	$264K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009360	+2.385%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009136	−0.066%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009152	+0.109%	$94K	$404K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009119	−0.251%	$189K	$668K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009128	−0.153%	$211K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009108	−0.368%	$308	—	10x	as long as short
01 Exchange PENGUUSD	+0.0320%	1h	0.009129	−0.142%	$209	$41	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009142	0.000%	$1.6M	$5.0M	75x	as long as short
dYdX PENGU-USD	+0.0390%	1h	0.009121	−0.227%	$12K	$6K	5x	as long as short
Deribit PENGU_USDC-PERPETUALlong	+0.0407%	1h	0.009142	long leg	$1K	$29K	10x
GMX PENGU/USD [WBTC.b-USDC]	L +0.0433% / S −0.0352%	1h	0.009138	−0.044%	$104K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0534%	1h	0.009142	+0.001%	$344K	$2.6M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1928%	1h	0.009196	+0.591%	$81K	$74K	50x	as long as short