PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0214%/8h= +23.4% APRnext payment +$0.27 per $10,000 · paid last 24h +0.003%

Price spread now: Kraken Futures against Extended−0.033%7-day average +0.131% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$570.571% of the position

Long on Extended Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.096%+$10 on $10k

Price spread, last 4 days (all we have)+0.208%+$21 · spread now −0.033%, 7d avg +0.131%

Together, before fees+0.304%+ Points / potential airdropExtended: Active · farm board+$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.165% cheaper against Extended than usual: you would sell low and buy high (spread −0.033% now, against its 7-day average of +0.131%). If the spread goes back, that is −$16 on $10k: about 2.6 days of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.096% in total) that is about 12 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.096% in total (about 5.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.27 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENGU-USD	0.008881	0.0104	pay 0.0013% / 1h	18m 36s	$183K	$876K	10x
Short	Kraken Futures PF_PENGUUSD	0.008878	0.0318	get 0.0040% / 1h	18m 36s	$324K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.033%Rate

Funding earned: $44.96
Price spread: −0.033% → +0.131%: −$16.45
Slippage, 4 orders: −$42.14
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$28.63
Costs to cover: 0.571%
Break-even: 11.5 days

Slippage from Extended: live order book, 29 min ago; Kraken Futures: 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 Extended live order book, 29 min ago	1.70 bp	10.8 bp −$11	84.3 bp −$843	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	3.43 bp	14.8 bp −$15	40.0 bp −$400	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	0.008872	−0.094%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.033%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0088%	1h	0.008870	−0.121%	$16K	$13K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008883	+0.025%	$322K	$750K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008882	+0.014%	$602K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008886	+0.059%	$8.2M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008881	+0.005%	$122K	$667K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008881	+0.003%	$135K	$273K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008890	+0.101%	$37.6M	$177.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008884	+0.037%	$23.5M	$42.0M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008889	+0.093%	$7.6M	$51.6M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008890	+0.104%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008880	−0.009%	$3.3M	$16.6M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008885	+0.048%	$10.5M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008882	+0.014%	$5.0M	$9.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008881	+0.003%	$8.5M	$13.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008876	−0.054%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008876	−0.054%	$292K	$338K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008816	−0.730%	$920K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008765	−1.301%	$458K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008756	−1.405%	$79K	$250K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008876	−0.054%	$23K	$175K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009087	+2.322%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008871	−0.110%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008888	+0.082%	$92K	$392K	25x	as long as short
Extended PENGU-USDlong	+0.0104%	1h	0.008881	long leg	$183K	$876K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008860	−0.234%	$205K	—	3x	as long as short
dYdX PENGU-USD	+0.0184%	1h	0.008876	−0.049%	$12K	$6K	5x	as long as short
01 Exchange PENGUUSD	+0.0192%	1h	0.008890	+0.104%	$203	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008874	−0.079%	$300	—	10x	as long as short
Kraken Futures PF_PENGUUSDshort	+0.0318%	1h	0.008878	−0.033%	$324K	$2.4M	50x
BloFin PENGU-USDT	+0.0340%	4h	0.008886	+0.059%	$1.5M	$4.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0503% / S −0.0466%	1h	0.008870	−0.121%	$123K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.008872	−0.099%	$78K	$77K	50x	as long as short