PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0428%/8h= +46.9% APRnext payment +$2.14 per $10,000 · paid last 24h +0.035%

Price spread now: OKX against Gate+0.045%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$560.563% of the position

Long on Gate Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.059%+$6 on $10k

Price spread, last 7 days−0.041%−$4 · spread now +0.045%, 7d avg −0.004%

Together, before fees+0.018%+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and OKX is 0.049% dearer against Gate than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.004%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.059% in total (about 3.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.14 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	0.008818	−0.0328	get 0.0164% / 4h	3h 42m	$3.4M	$15.5M	75x
Short	OKX PENGU-USDT-SWAP	0.008822	0.0100	get 0.0050% / 4h	3h 42m	$7.6M	$47.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.045%Rate

Funding earned: $89.88
Price spread: +0.045% → −0.004%: $4.91
Slippage, 4 orders: −$31.3
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: $38.48
Costs to cover: 0.563%
Break-even: 4.0 days

Slippage from Gate: live order book, 1 min ago; OKX: 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	1.70 bp	14.8 bp −$15	43.9 bp −$439	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.57 bp	13.4 bp −$13	33.9 bp −$339	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	−0.0391%	1h	0.008835	+0.190%	$370K	$2.3M	50x	as long as short
Gate PENGU_USDTlong	−0.0328%	4h	0.008818	long leg	$3.4M	$15.5M	75x
Variational Omni PENGU	−0.0298%	4h	0.008761	−0.645%	$867K	$931K	—	as long as short
01 Exchange PENGUUSD	−0.0232%	1h	0.008814	−0.045%	$202	$59	5x	as long as short
Bybit PENGUUSDT	−0.0176%	4h	0.008813	−0.057%	$23.0M	$37.1M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0090%	1h	0.008826	+0.091%	$18K	$10K	10x	as long as short
Backpack PENGU_USDC_PERP	−0.0020%	1h	0.008826	+0.091%	$310K	$311K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008827	+0.104%	$34K	—	150x	as long as short
GRVT PENGU_USDT_Perp	+0.0024%	4h	0.008798	−0.227%	$466K	$2.1M	10x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.329%	$3K	$117K	5.5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PENGU-PERP	+0.0044%	1h	0.008813	−0.051%	$699K	$773K	5x	as long as short
dYdX PENGU-USD	+0.0065%	1h	0.008811	−0.076%	$12K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008828	+0.113%	$309K	$727K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008827	+0.102%	$24K	$184K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008824	+0.068%	$8.3M	$15.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008829	+0.125%	$189K	$481K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008809	−0.102%	$152K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008822	+0.041%	$36.9M	$155.6M	75x	as long as short
OKX PENGU-USDT-SWAPshort	+0.0100%	4h	0.008822	+0.045%	$7.6M	$47.4M	50x
Arcus PENGU-USD	+0.0100%	1h	0.008820	+0.023%	$19K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008823	+0.057%	$12.4M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008826	+0.091%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008824	+0.068%	$8.4M	$12.7M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008822	+0.045%	—	$3.9M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008789	−0.329%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009010	+2.177%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008824	+0.068%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008825	+0.079%	$90K	$295K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008823	+0.053%	$181K	$792K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008825	+0.079%	$204K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008819	+0.015%	$298	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008823	+0.057%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0499% / S −0.0683%	1h	0.008827	+0.102%	$111K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.008808	−0.113%	$94K	$102K	50x	as long as short