PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0444%/8h= −48.6% APRnext payment −$2.22 per $10,000 · paid last 24h −0.015%

Price spread now: Gate against GRVT+0.216%96s7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as 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−$610.609% of the position

Long on GRVT Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.038%−$4 on $10k

Price spread, last 7 days−0.256%−$26 · spread now +0.216%, 7d avg 0.000%

Together, before fees−0.294%+ Points / potential airdropGRVT: Active · farm board−$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.216% dearer against GRVT than usual: you sell high and buy low (spread +0.216% now, against its 7-day average of 0.000%): +$22 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 39 hours. At the pace of the last 7 days (−0.038% in total) that is about 40 days. The two prices were read 96 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.038% in total (about -2.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.22 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	GRVT PENGU_USDT_Perp	0.008775	0.0006	pay 0.0003% / 4h	3h 44m	$465K	$2.1M	10x
Short	Gate PENGU_USDT	0.008794	−0.0438	pay 0.0219% / 4h	3h 44m	$3.4M	$15.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.216%Rate

Funding earned: −$93.24
Price spread: +0.216% → 0.000%: $21.58
Slippage, 4 orders: −$36.86
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$132.52
Costs to cover: 0.609%
Break-even: never at this rate

Slippage from GRVT: live order book, 5 min ago; Gate: live order book, 5 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, 5 min ago	1.71 bp	13.5 bp −$13	34.2 bp −$342	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	2.85 bp	17.9 bp −$18	50.9 bp −$509	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
Gate PENGU_USDTshort	−0.0438%	4h	0.008794	+0.216%	$3.4M	$15.5M	75x
Deribit PENGU_USDC-PERPETUAL	−0.0433%	1h	0.008775	−0.001%	$18K	$10K	10x	as long as short
Kraken Futures PF_PENGUUSD	−0.0393%	1h	0.008787	+0.137%	$368K	$2.3M	50x	as long as short
Variational Omni PENGU	−0.0298%	4h	0.008761	−0.159%	$867K	$931K	—	as long as short
Bybit PENGUUSDT	−0.0261%	4h	0.008798	+0.261%	$23.0M	$37.2M	75x	as long as short
01 Exchange PENGUUSD	−0.0232%	1h	0.008779	+0.045%	$201	$59	5x	as long as short
Backpack PENGU_USDC_PERP	−0.0055%	1h	0.008776	+0.011%	$308K	$311K	10x	as long as short
GRVT PENGU_USDT_Perplong	+0.0006%	4h	0.008775	long leg	$465K	$2.1M	10x
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008782	+0.081%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.159%	$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	+0.0047%	1h	0.008777	+0.022%	$696K	$778K	5x	as long as short
dYdX PENGU-USD	+0.0069%	1h	0.008800	+0.285%	$12K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008781	+0.068%	$307K	$727K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008780	+0.056%	$23K	$184K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008780	+0.056%	$8.2M	$15.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008788	+0.146%	$188K	$481K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008789	+0.159%	$152K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008804	+0.335%	$36.8M	$155.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008809	+0.387%	$7.6M	$47.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008780	+0.056%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008800	+0.284%	$12.3M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008785	+0.113%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008800	+0.284%	$8.4M	$12.8M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008792	+0.193%	—	$2.3M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008781	+0.068%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008982	+2.358%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008776	+0.011%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008800	+0.284%	$90K	$298K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008799	+0.274%	$182K	$777K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008770	−0.058%	$203K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008776	+0.011%	$296	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008790	+0.170%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0498% / S −0.0683%	1h	0.008782	+0.079%	$111K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.008808	+0.375%	$94K	$103K	50x	as long as short