PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0426%/8h= −46.7% APRnext payment −$0.53 per $10,000 · paid last 24h −0.088%

Price spread now: Lighter against GMX−0.078%7-day average −0.005% · you buy dearer than you sell

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

Long on GMX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.217%−$22 on $10k

Price spread, last 3 days (all we have)+0.078%+$8 · spread now −0.078%, 7d avg −0.005%

Together, before fees−0.139%+ Points / potential airdropLighter: Season 3 · farm board−$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Lighter is 0.073% cheaper against GMX than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.005%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX PENGU/USD [WBTC.b-USDC]	0.008953	L +0.0522% / S −0.0723%	pay 0.0065% / 1h	14m 33s	$118K	—	100x
Short	Lighter PENGU	0.008946	0.0096	get 0.0012% / 1h	14m 33s	$311K	$730K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.078%Rate

Funding earned: −$89.55
Price spread: −0.078% → −0.005%: −$7.27
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$108.82
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Lighter: live order book, 55 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 Lighter live order book, 55 min ago	3.44 bp	11.3 bp −$11	75.2 bp −$752	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	−0.0386%	1h	0.008960	+0.082%	$373K	$2.3M	50x	as long as short
Gate PENGU_USDT	−0.0320%	4h	0.008946	−0.078%	$3.5M	$15.8M	75x	as long as short
01 Exchange PENGUUSD	−0.0200%	1h	0.008951	−0.022%	$205	$59	5x	as long as short
Variational Omni PENGU	−0.0157%	4h	0.008900	−0.591%	$913K	$970K	—	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008954	+0.011%	$19K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008951	−0.021%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.832%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0091%	1h	0.008941	−0.136%	$12K	$4K	5x	as long as short
Lighter PENGUshort	+0.0096%	1h	0.008946	−0.078%	$311K	$730K	8x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008952	−0.011%	$24K	$175K	20x	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	0.008952	−0.006%	$709K	$766K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008942	−0.123%	$8.4M	$15.4M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008949	−0.043%	$192K	$465K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008943	−0.112%	$154K	$240K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008952	−0.011%	$37.6M	$155.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008947	−0.067%	$23.5M	$37.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008949	−0.045%	$7.7M	$48.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008950	−0.034%	$20K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008946	−0.078%	$13.1M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008941	−0.134%	$4.8M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008948	−0.056%	$8.5M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008935	−0.201%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008949	−0.045%	$308K	$323K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008880	−0.819%	$475K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008869	−0.938%	$81K	$250K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009161	+2.323%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008948	−0.056%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008956	+0.034%	$92K	$300K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008942	−0.123%	$184K	$935K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008944	−0.101%	$207K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008952	−0.013%	$302	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008946	−0.078%	$1.5M	$3.0M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]long	L +0.0522% / S −0.0723%	1h	0.008953	long leg	$118K	—	100x
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.009008	+0.614%	$96K	$104K	50x	as long as short