PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.2177%/8h= +238.3% APRnext payment +$2.72 per $10,000 · paid last 24h +0.484%

Price spread now: Coinbase International against GMX+0.193%7-day average +0.706% · you sell dearer than you buy

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

Long on GMX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.850%+$85 on $10k

Price spread, last 3 days (all we have)−0.015%−$1 · spread now +0.193%, 7d avg +0.706%

Together, before fees+0.836%+$84 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.513% cheaper against GMX than usual: you would sell low and buy high (spread +0.193% now, against its 7-day average of +0.706%). If the spread goes back, that is −$51 on $10k: about 19 hours of funding at the current rate (+$65 a day). At the pace of the last 3 days (+0.850% in total) that is about 45 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX PENGU/USD [WBTC.b-USDC]	0.008824	L +0.0511% / S −0.0711%	pay 0.0064% / 1h	57m 07s	$115K	—	100x
Short	Coinbase International PENGU-PERP-INTX	0.008841	0.2688	get 0.0336% / 1h	57m 07s	$94K	$104K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against GMX. 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 GMXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.193%Rate

Funding earned: $457.08
Price spread: +0.193% → +0.706%: −$51.32
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $383.76
Costs to cover: 0.220%
Break-even: 1.1 days

Slippage unknown: GMX: no order-book sample; Coinbase International: live order book, 51 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 GMX no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 51 min ago	19.92 bp	24.9 bp −$25	doesn't fit	doesn't fit	doesn't fit

GMX: 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	−0.0339%	1h	0.008828	+0.045%	$369K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0262%	4h	0.008811	−0.147%	$3.4M	$15.6M	75x	as long as short
Bybit PENGUUSDT	−0.0207%	4h	0.008809	−0.170%	$22.9M	$36.5M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0203%	1h	0.008821	−0.034%	$19K	$9K	10x	as long as short
01 Exchange PENGUUSD	−0.0136%	1h	0.008815	−0.102%	$202	$59	5x	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	−0.397%	$3K	$117K	5.5x	as long as short
Variational Omni PENGU	−0.0108%	4h	0.008765	−0.665%	$801K	$802K	—	as long as short
Nado PENGU-PERP	−0.0043%	1h	0.008812	−0.130%	$687K	$760K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008822	−0.020%	$34K	—	150x	as long as short
dYdX PENGU-USD	+0.0043%	1h	0.008816	−0.093%	$12K	$4K	5x	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	0.008817	−0.079%	$309K	$737K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008823	−0.011%	$24K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008815	−0.102%	$8.5M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008821	−0.030%	$191K	$467K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008818	−0.068%	$152K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008816	−0.087%	$36.6M	$153.8M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008814	−0.113%	$7.6M	$47.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008820	−0.045%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008818	−0.068%	$12.6M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008819	−0.057%	$4.8M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008819	−0.057%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008812	−0.136%	—	$3.9M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008815	−0.102%	$314K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008791	−0.374%	$460K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008798	−0.295%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009032	+2.357%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008819	−0.057%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008826	+0.023%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008818	−0.071%	$181K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008820	−0.045%	$204K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008818	−0.069%	$298	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008810	−0.159%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]long	L +0.0511% / S −0.0711%	1h	0.008824	long leg	$115K	—	100x
Coinbase International PENGU-PERP-INTXshort	+0.2688%	1h	0.008841	+0.193%	$94K	$104K	50x