PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0016%/8h= +1.8% APRnext payment +$0.08 per $10,000 · paid last 24h +0.020%

Price spread now: Bitget against GRVT−0.194%83s7-day average +0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$460.461% of the position

Long on GRVT Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.085%+$9 on $10k

Price spread, last 7 days+0.220%+$22 · spread now −0.194%, 7d avg +0.045%

Together, before fees+0.305%+ Points / potential airdropGRVT: Active · farm board+$31 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.240% cheaper against GRVT than usual: you would sell low and buy high (spread −0.194% now, against its 7-day average of +0.045%). If the spread goes back, that is −$24 on $10k: about 50 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.085% in total) that is about 20 days. The two prices were read 83 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT PENGU_USDT_Perp	0.008741	0.0084	pay 0.0042% / 4h	12m 01s	$457K	$2.1M	10x
Short	Bitget PENGUUSDT	0.008724	0.0100	get 0.0050% / 4h	12m 01s	$8.3M	$12.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against GRVT. 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 GRVTbpFee BitgetbpOrdersPrice spread, now −0.194%Rate

Funding earned: $3.36
Price spread: −0.194% → +0.045%: −$23.99
Slippage, 4 orders: −$25.12
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$66.75
Costs to cover: 0.461%
Break-even: 146.1 days

Slippage from GRVT: live order book, 1 min ago; Bitget: live order book, 2 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 GRVT live order book, 1 min ago	1.72 bp	10.4 bp −$10	33.7 bp −$337	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	1.14 bp	13.4 bp −$13	27.5 bp −$275	68.0 bp −$6,796	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	−0.0343%	1h	0.008728	−0.146%	$366K	$2.3M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0323%	1h	0.008722	−0.217%	$19K	$9K	10x	as long as short
Bybit PENGUUSDT	−0.0320%	4h	0.008720	−0.240%	$22.8M	$36.9M	75x	as long as short
Gate PENGU_USDT	−0.0308%	4h	0.008718	−0.263%	$3.4M	$15.7M	75x	as long as short
Variational Omni PENGU	−0.0295%	4h	0.008731	−0.112%	$767K	$832K	—	as long as short
01 Exchange PENGUUSD	−0.0272%	1h	0.008719	−0.252%	$199	$59	5x	as long as short
Backpack PENGU_USDC_PERP	−0.0183%	1h	0.008719	−0.252%	$306K	$315K	10x	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	+0.549%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	−0.0020%	1h	0.008729	−0.143%	$694K	$777K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008729	−0.137%	$33K	—	150x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENGU-USD	+0.0019%	1h	0.008732	−0.103%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perplong	+0.0084%	4h	0.008741	long leg	$457K	$2.1M	10x
Lighter PENGU	+0.0096%	1h	0.008722	−0.217%	$305K	$741K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008723	−0.206%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008722	−0.217%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008728	−0.144%	$187K	$474K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008728	−0.149%	$151K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008722	−0.217%	$36.1M	$155.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008726	−0.172%	$7.5M	$46.9M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008730	−0.126%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008720	−0.240%	$12.3M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008723	−0.206%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDTshort	+0.0100%	4h	0.008724	−0.194%	$8.3M	$12.6M	75x
BingX PENGU-USDC	+0.0100%	4h	0.008720	−0.240%	—	$2.3M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008724	−0.194%	$79K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008935	+2.219%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008718	−0.263%	$998	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008749	+0.092%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008718	−0.265%	$180K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008717	−0.275%	$201K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008725	−0.178%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008721	−0.229%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0496% / S −0.0683%	1h	0.008731	−0.114%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008768	+0.309%	$93K	$103K	50x	as long as short