PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0402%/8h= +44.0% APRnext payment +$2.01 per $10,000 · paid last 24h +0.011%

Price spread now: Bybit against Gate+0.022%7-day average −0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$620.620% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 7 days−0.055%−$6 · spread now +0.022%, 7d avg −0.047%

Together, before fees−0.088%−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Bybit is 0.069% dearer against Gate than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.047%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.032% in total (about -1.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.01 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	0.009133	−0.0302	get 0.0151% / 4h	3h 23m	$3.7M	$18.0M	75x
Short	Bybit PENGUUSDT	0.009135	0.0100	get 0.0050% / 4h	3h 23m	$24.6M	$47.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.022%Rate

Funding earned: $84.42
Price spread: +0.022% → −0.047%: $6.89
Slippage, 4 orders: −$36.05
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $29.27
Costs to cover: 0.620%
Break-even: 4.6 days

Slippage from Gate: live order book, 5 min ago; Bybit: 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 Gate live order book, 5 min ago	4.42 bp	17.5 bp −$18	41.8 bp −$418	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.55 bp	12.8 bp −$13	33.3 bp −$333	88.3 bp −$8,827	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
Gate PENGU_USDTlong	−0.0302%	4h	0.009133	long leg	$3.7M	$18.0M	75x
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009053	−0.878%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.767%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0080%	1h	0.009086	−0.515%	$1K	$29K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.009114	−0.208%	$326K	$768K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009137	+0.041%	$649K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009143	+0.109%	$9.4M	$16.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009140	+0.076%	$131K	$770K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009110	−0.252%	$139K	$275K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009144	+0.120%	$40.7M	$197.8M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PENGUUSDTshort	+0.0100%	4h	0.009135	+0.022%	$24.6M	$47.2M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009140	+0.077%	$8.2M	$58.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009140	+0.077%	$19K	$26K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009143	+0.109%	$11.7M	$13.0M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009138	+0.055%	$5.0M	$10.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009149	+0.175%	$8.9M	$15.2M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009135	+0.022%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009077	−0.613%	$298K	$391K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009015	−1.295%	$923K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009062	−0.778%	$476K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009053	−0.876%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009143	+0.109%	$24K	$335K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009293	+1.752%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009075	−0.635%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009092	−0.449%	$95K	$416K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009142	+0.098%	$190K	$744K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009139	+0.066%	$211K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009137	+0.040%	$309	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009060	−0.799%	$1.6M	$5.3M	75x	as long as short
01 Exchange PENGUUSD	+0.0352%	1h	0.009147	+0.153%	$260	$91	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0380%	1h	0.009077	−0.614%	$336K	$2.7M	50x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0431% / S −0.0351%	1h	0.009076	−0.624%	$104K	—	100x	as long as short
dYdX PENGU-USD	+0.1859%	1h	0.009069	−0.698%	$21K	$18K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2088%	1h	0.009211	+0.854%	$81K	$73K	50x	as long as short