PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0389%/8h= −42.6% APRnext payment −$0.49 per $10,000 · paid last 24h −0.070%

Price spread now: Hyperliquid against GMX−0.023%7-day average −0.006% · you buy dearer than you sell

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

Long on GMX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.187%−$19 on $10k

Price spread, last 3 days (all we have)+0.061%+$6 · spread now −0.023%, 7d avg −0.006%

Together, before fees−0.126%+ Points / potential airdropHyperliquid: Season 2 · farm board−$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.006%, so right now this pair is about funding alone: −$12 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX PENGU/USD [WBTC.b-USDC]	0.008672	L +0.0489% / S −0.0675%	pay 0.0061% / 1h	41m 32s	$108K	—	100x
Short	Hyperliquid PENGU	0.008670	0.0100	get 0.0013% / 1h	41m 32s	$8.7M	$15.1M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against GMX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 HyperliquidbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$81.78
Price spread: −0.023% → −0.006%: −$1.68
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$104.46
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Hyperliquid: live order book, 11 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 Hyperliquid live order book, 11 min ago	1.74 bp	9.3 bp −$9	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	−0.0551%	1h	0.008680	+0.094%	$385K	$2.1M	50x	as long as short
Gate PENGU_USDT	−0.0370%	4h	0.008660	−0.138%	$3.4M	$15.3M	75x	as long as short
Bybit PENGUUSDT	−0.0283%	4h	0.008661	−0.127%	$22.6M	$35.8M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0211%	1h	0.008674	+0.023%	$19K	$9K	10x	as long as short
Backpack PENGU_USDC_PERP	−0.0190%	1h	0.008663	−0.104%	$309K	$316K	10x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.496%	$3K	$81K	5.5x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008669	−0.039%	$11K	$4K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008673	+0.012%	$33K	—	150x	as long as short
01 Exchange PENGUUSD	+0.0016%	1h	0.008670	−0.023%	$198	$59	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008666	−0.069%	$294K	$719K	8x	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	+0.0100%	1h	0.008668	−0.046%	$672K	$758K	5x	as long as short
Hyperliquid PENGUshort	+0.0100%	1h	0.008670	−0.023%	$8.7M	$15.1M	5x
Aster PENGUUSDT	+0.0100%	4h	0.008665	−0.076%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008665	−0.081%	$142K	$232K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008666	−0.069%	$35.8M	$150.8M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008666	−0.069%	$7.7M	$46.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008670	−0.023%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008665	−0.081%	$12.8M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008668	−0.046%	$4.7M	$8.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008674	+0.023%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008663	−0.104%	—	$3.9M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008657	−0.178%	$795K	$712K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008664	−0.092%	$453K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008667	−0.058%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008672	0.000%	$21K	$184K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008874	+2.329%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008671	−0.012%	$978	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008692	+0.231%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008669	−0.030%	$177K	$681K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008671	−0.012%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008667	−0.059%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008675	+0.035%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]long	L +0.0489% / S −0.0675%	1h	0.008672	long leg	$108K	—	100x
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008903	+2.664%	$94K	$97K	50x	as long as short