PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0008%/8h= −0.9% APRnext payment −$0.01 per $10,000 · paid last 24h −0.002%

Price spread now: Lighter against Extended−0.036%7-day average +0.093% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$440.439% of the position

Long on Extended Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)+0.151%+$15 · spread now −0.036%, 7d avg +0.093%

Together, before fees+0.160%+ Points / potential airdropExtended: Active · Lighter: Season 3 · farm board+$16 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: Lighter is 0.129% cheaper against Extended than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.093%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENGU-USD	0.008665	0.0104	pay 0.0013% / 1h	44m 28s	$177K	$681K	10x
Short	Lighter PENGU	0.008662	0.0096	get 0.0012% / 1h	44m 28s	$294K	$719K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.036%Rate

Funding earned: −$1.68
Price spread: −0.036% → +0.093%: −$12.85
Slippage, 4 orders: −$38.93
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Lighter: 0 bp × 2 orders: $0
Net: −$58.47
Costs to cover: 0.439%
Break-even: never at this rate

Slippage from Extended: live order book, 43 min ago; Lighter: live order book, 40 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, 43 min ago	1.71 bp	10.9 bp −$11	82.2 bp −$822	doesn't fit	doesn't fit
Sell Lighter live order book, 40 min ago	4.58 bp	8.1 bp −$8	68.0 bp −$680	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
Kraken Futures PF_PENGUUSD	−0.0552%	1h	0.008671	+0.070%	$384K	$2.1M	50x	as long as short
Gate PENGU_USDT	−0.0360%	4h	0.008661	−0.047%	$3.4M	$15.3M	75x	as long as short
Bybit PENGUUSDT	−0.0326%	4h	0.008660	−0.059%	$22.6M	$35.7M	75x	as long as short
Backpack PENGU_USDC_PERP	−0.0221%	1h	0.008664	−0.013%	$309K	$316K	10x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0211%	1h	0.008668	+0.034%	$19K	$9K	10x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.576%	$3K	$81K	5.5x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008668	+0.034%	$11K	$4K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008671	+0.063%	$33K	—	150x	as long as short
01 Exchange PENGUUSD	+0.0024%	1h	0.008666	+0.011%	$198	$59	5x	as long as short
Lighter PENGUshort	+0.0096%	1h	0.008662	−0.036%	$294K	$719K	8x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PENGU-PERP	+0.0100%	1h	0.008664	−0.013%	$672K	$758K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008675	+0.114%	$8.7M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008671	+0.067%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008663	−0.024%	$142K	$232K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008665	+0.003%	$35.8M	$150.8M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008665	−0.001%	$7.7M	$46.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008670	+0.057%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008666	+0.011%	$12.8M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008665	−0.001%	$4.7M	$8.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008671	+0.068%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008656	−0.105%	—	$2.3M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008657	−0.099%	$795K	$712K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008668	+0.028%	$453K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008670	+0.057%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008670	+0.057%	$21K	$184K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008871	+2.376%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008666	+0.011%	$981	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008680	+0.172%	$91K	$249K	25x	as long as short
Extended PENGU-USDlong	+0.0104%	1h	0.008665	long leg	$177K	$681K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008665	−0.001%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008667	+0.020%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008664	−0.013%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0490% / S −0.0675%	1h	0.008669	+0.045%	$108K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008903	+2.746%	$94K	$97K	50x	as long as short