PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h −0.015%

Price spread now: Backpack against Extended−0.063%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$450.453% of the position

Long on Extended Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 4 days (all we have)+0.113%+$11 · spread now −0.063%, 7d avg +0.024%

Together, before fees+0.041%+ Points / potential airdropExtended: Active · farm board+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.087% cheaper against Extended than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENGU-USD	0.009084	0.0104	pay 0.0013% / 1h	0m 56s	$187K	$841K	10x
Short	Backpack PENGU_USDC_PERP	0.009078	0.0100	get 0.0013% / 1h	0m 56s	$303K	$371K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Extended. 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 ExtendedbpFee BackpackbpOrdersPrice spread, now −0.063%Rate

Funding earned: −$0.84
Price spread: −0.063% → +0.024%: −$8.68
Slippage, 4 orders: −$30.34
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$54.86
Costs to cover: 0.453%
Break-even: never at this rate

Slippage from Extended: live order book, 47 min ago; Backpack: live order book, 48 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 Extended live order book, 47 min ago	1.70 bp	10.8 bp −$11	84.3 bp −$843	doesn't fit	doesn't fit
Sell Backpack live order book, 48 min ago	0.57 bp	11.6 bp −$12	doesn't fit	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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009075	−0.094%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.245%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009089	+0.058%	$334K	$759K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009071	−0.137%	$637K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009088	+0.047%	$9.4M	$15.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009081	−0.031%	$121K	$691K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009068	−0.173%	$139K	$285K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009078	−0.063%	$39.4M	$184.7M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009071	−0.140%	$24.1M	$43.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009071	−0.140%	$8.0M	$54.0M	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	0.009080	−0.041%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009081	−0.030%	$3.4M	$17.0M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009086	+0.025%	$11.1M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009086	+0.025%	$5.3M	$9.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009082	−0.019%	$8.7M	$13.8M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009074	−0.107%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERPshort	+0.0100%	1h	0.009078	−0.063%	$303K	$371K	10x
Variational Omni PENGU	+0.0100%	4h	0.009072	−0.131%	$925K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009075	−0.096%	$480K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009101	+0.190%	$82K	$250K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009079	−0.052%	$23K	$193K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009298	+2.359%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009081	−0.030%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009083	−0.008%	$94K	$401K	25x	as long as short
Extended PENGU-USDlong	+0.0104%	1h	0.009084	long leg	$187K	$841K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.009080	−0.041%	$210K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009075	−0.100%	$306	—	10x	as long as short
01 Exchange PENGUUSD	+0.0280%	1h	0.009083	−0.008%	$208	$64	5x	as long as short
dYdX PENGU-USD	+0.0305%	1h	0.009068	−0.176%	$12K	$6K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0311%	1h	0.009092	+0.088%	$339K	$2.5M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009085	+0.014%	$1.6M	$4.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0390% / S −0.0291%	1h	0.009076	−0.085%	$92K	—	100x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0521%	1h	0.009088	+0.047%	$1K	$29K	10x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.009185	+1.115%	$81K	$80K	50x	as long as short