PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0026%/8h= +2.9% APRnext payment +$0.03 per $10,000 · paid last 24h +0.119%

Price spread now: Injective against gTrade (Gains Network)−3.216%55s7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 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

Funding pays, the price is against you. Injective is 3.216% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −3.216% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$322 on $10k: about 14 months of funding at the current rate (+$1 a day). The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PENGU/USD	0.009081	L +0.0007% / S −0.0003%	pay 0.0001% / 1h	57m 45s	$33K	—	150x
Short	Injective PENGU/USDC PERP	0.008789	0.0033	get 0.0004% / 1h	57m 45s	$3K	$117K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee InjectivebpOrdersPrice spread, now −3.216%Rate

Funding earned: $5.52
Price spread: −3.216% → 0.000%: −$321.59
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$326.09
Costs to cover: 0.100%
Break-even: 420.2 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Injective: no order-book sample. 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

gTrade (Gains Network) and Injective: 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 exchanges

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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.009085	+0.044%	$1K	$27K	10x	as long as short
gTrade (Gains Network) PENGU/USDlong	L +0.0007% / S −0.0003%	1h	0.009081	long leg	$33K	—	150x
Injective PENGU/USDC PERPshort	+0.0033%	1h	0.008789	−3.216%	$3K	$117K	5.5x
Backpack PENGU_USDC_PERP	+0.0057%	1h	0.009079	−0.022%	$305K	$365K	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0064%	1h	0.009087	+0.071%	$334K	$2.6M	50x	as long as short
Lighter PENGU	+0.0096%	1h	0.009088	+0.077%	$326K	$699K	8x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009089	+0.091%	$136K	$779K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009101	+0.220%	$138K	$225K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009084	+0.034%	$40.0M	$192.4M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009073	−0.089%	$24.6M	$46.6M	75x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009075	−0.067%	$8.4M	$56.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009090	+0.099%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009081	0.000%	$3.7M	$17.8M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009083	+0.022%	$12.3M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009081	0.000%	$5.1M	$10.5M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009087	+0.066%	$8.8M	$14.3M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009080	−0.011%	—	$3.6M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009084	+0.037%	$917K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009158	+0.847%	$479K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009102	+0.231%	$82K	$248K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009089	+0.090%	$652K	$1.1M	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009083	+0.022%	$23K	$357K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009301	+2.422%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009082	+0.011%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009103	+0.242%	$93K	$368K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009076	−0.061%	$186K	$743K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009081	0.000%	$210K	—	3x	as long as short
Hyperliquid PENGU	+0.0129%	1h	0.009093	+0.132%	$9.8M	$17.0M	5x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009077	−0.040%	$307	—	10x	as long as short
01 Exchange PENGUUSD	+0.0304%	1h	0.009097	+0.176%	$208	$141	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009097	+0.176%	$1.6M	$5.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0434% / S −0.0357%	1h	0.009092	+0.121%	$105K	—	100x	as long as short
dYdX PENGU-USD	+0.0968%	1h	0.009109	+0.313%	$20K	$21K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2136%	1h	0.009222	+1.552%	$84K	$95K	50x	as long as short