PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0370%/8h= +40.5% APRnext payment +$1.85 per $10,000 · paid last 24h +0.015%

Price spread now: Bitget against Gate+0.068%7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$620.618% of the position

Long on Gate Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.111%+$11 on $10k

Price spread, last 7 days−0.024%−$2 · spread now +0.068%, 7d avg +0.049%

Together, before fees+0.087%+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.049%, so right now this pair is about funding alone: +$11 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.111% in total (about 5.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.85 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	Gate PENGU_USDT	0.008775	−0.0270	get 0.0135% / 4h	1h 02m	$3.4M	$15.6M	75x
Short	Bitget PENGUUSDT	0.008781	0.0100	get 0.0050% / 4h	1h 02m	$8.3M	$12.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Gate. 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 GatebpFee BitgetbpOrdersPrice spread, now +0.068%Rate

Funding earned: $77.7
Price spread: +0.068% → +0.049%: $1.92
Slippage, 4 orders: −$34.83
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bitget: 6 bp × 2 orders: −$12
Net: $17.79
Costs to cover: 0.618%
Break-even: 5.4 days

Slippage from Gate: live order book, 1 min ago; Bitget: live order book, 1 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 Gate live order book, 1 min ago	2.28 bp	18.7 bp −$19	44.3 bp −$443	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	0.57 bp	13.4 bp −$13	29.1 bp −$291	71.4 bp −$7,141	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	−0.0607%	1h	0.008786	+0.122%	$367K	$2.2M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0320%	1h	0.008774	−0.011%	$19K	$9K	10x	as long as short
Gate PENGU_USDTlong	−0.0270%	4h	0.008775	long leg	$3.4M	$15.6M	75x
Bybit PENGUUSDT	−0.0200%	4h	0.008771	−0.046%	$22.8M	$36.5M	75x	as long as short
01 Exchange PENGUUSD	−0.0112%	1h	0.008777	+0.023%	$201	$59	5x	as long as short
Variational Omni PENGU	−0.0087%	4h	0.008784	+0.106%	$802K	$802K	—	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008782	+0.076%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.160%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	+0.0054%	1h	0.008783	+0.091%	$684K	$760K	5x	as long as short
Backpack PENGU_USDC_PERP	+0.0081%	1h	0.008774	−0.011%	$313K	$309K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PENGU	+0.0096%	1h	0.008786	+0.125%	$308K	$736K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008773	−0.023%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008778	+0.034%	$8.5M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008785	+0.112%	$190K	$467K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008782	+0.080%	$151K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008778	+0.034%	$36.5M	$153.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008774	−0.011%	$7.6M	$47.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008780	+0.057%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008778	+0.034%	$12.6M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008780	+0.057%	$4.8M	$8.9M	75x	as long as short
Bitget PENGUUSDTshort	+0.0100%	4h	0.008781	+0.068%	$8.3M	$12.6M	75x
BingX PENGU-USDT	+0.0100%	4h	0.008777	+0.023%	—	$3.9M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008795	+0.223%	$460K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008786	+0.125%	$80K	$253K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009009	+2.667%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008775	0.000%	$994	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008790	+0.171%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008774	−0.014%	$181K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008775	0.000%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0126%	1h	0.008788	+0.146%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008773	−0.017%	$296	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008775	0.000%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0711%	1h	0.008782	+0.080%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008914	+1.584%	$95K	$105K	50x	as long as short