PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0089%/8h= +9.7% APRnext payment +$0.11 per $10,000 · paid last 24h +0.027%

Price spread now: Lighter against gTrade (Gains Network)−0.047%7-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 Lighter

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. Lighter is 0.047% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.047% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 42 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PENGU/USD	0.008662	L +0.0007% / S −0.0003%	pay 0.0001% / 1h	28m 52s	$33K	—	150x
Short	Lighter PENGU	0.008658	0.0096	get 0.0012% / 1h	28m 52s	$294K	$720K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.047%Rate

Funding earned: $18.68
Price spread: −0.047% → 0.000%: −$4.69
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $4
Costs to cover: 0.100%
Break-even: 5.5 days

Slippage unknown: gTrade (Gains Network): 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Lighter live order book, 55 min ago	4.58 bp	8.1 bp −$8	68.0 bp −$680	doesn't fit	doesn't fit

gTrade (Gains Network): 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
Kraken Futures PF_PENGUUSD	−0.0552%	1h	0.008665	+0.037%	$384K	$2.1M	50x	as long as short
Gate PENGU_USDT	−0.0370%	4h	0.008656	−0.070%	$3.4M	$15.4M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0212%	1h	0.008661	−0.012%	$19K	$9K	10x	as long as short
Bybit PENGUUSDT	−0.0154%	4h	0.008654	−0.093%	$22.4M	$35.9M	75x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.611%	$3K	$81K	5.5x	as long as short
Backpack PENGU_USDC_PERP	−0.0056%	1h	0.008658	−0.047%	$309K	$315K	10x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008666	+0.049%	$11K	$4K	5x	as long as short
gTrade (Gains Network) PENGU/USDlong	L +0.0007% / S −0.0003%	1h	0.008662	long leg	$33K	—	150x
01 Exchange PENGUUSD	+0.0016%	1h	0.008660	−0.024%	$198	$59	5x	as long as short
Lighter PENGUshort	+0.0096%	1h	0.008658	−0.047%	$294K	$720K	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	0.008654	−0.087%	$671K	$758K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008668	+0.069%	$8.7M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008664	+0.024%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008661	−0.012%	$146K	$236K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008662	−0.001%	$35.8M	$151.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008658	−0.047%	$7.7M	$46.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008660	−0.024%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008662	−0.001%	$12.8M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008662	−0.001%	$4.7M	$8.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008664	+0.022%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008654	−0.093%	—	$2.3M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008663	+0.012%	$793K	$713K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008671	+0.103%	$454K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008673	+0.126%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008663	+0.011%	$21K	$184K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008869	+2.389%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008659	−0.035%	$974	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008681	+0.219%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008658	−0.041%	$177K	$681K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008657	−0.058%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008656	−0.067%	$292	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008661	−0.012%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0489% / S −0.0675%	1h	0.008660	−0.024%	$108K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008785	+1.419%	$92K	$96K	50x	as long as short