PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0097%/8h= −10.6% APRnext payment −$0.12 per $10,000 · paid last 24h −0.041%

Price spread now: gTrade (Gains Network) against Hyperliquid+0.094%7-day average — · you sell dearer than you buy

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

Long on Hyperliquid Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

The price spread pays, funding is against you. gTrade (Gains Network) is 0.094% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.094% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid PENGU	0.008655	0.0100	pay 0.0013% / 1h	12m 36s	$8.6M	$15.2M	5x
Short	gTrade (Gains Network) PENGU/USD	0.008663	L +0.0007% / S −0.0003%	get 0.0000% / 1h	12m 36s	$33K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Hyperliquid. 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 HyperliquidbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.094%Rate

Funding earned: −$20.35
Price spread: +0.094% → 0.000%: $9.39
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$29.96
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 10 min ago; gTrade (Gains Network): no order-book sample. 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 Hyperliquid live order book, 10 min ago	1.15 bp	8.3 bp −$8	16.2 bp −$162	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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
Deribit PENGU_USDC-PERPETUAL	−0.0558%	1h	0.008660	+0.058%	$19K	$9K	10x	as long as short
Kraken Futures PF_PENGUUSD	−0.0552%	1h	0.008663	+0.089%	$384K	$2.1M	50x	as long as short
Gate PENGU_USDT	−0.0272%	4h	0.008649	−0.069%	$3.4M	$15.4M	75x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.693%	$3K	$81K	5.5x	as long as short
Backpack PENGU_USDC_PERP	−0.0028%	1h	0.008654	−0.012%	$309K	$314K	10x	as long as short
01 Exchange PENGUUSD	0.0000%	1h	0.008652	−0.035%	$198	$59	5x	as long as short
gTrade (Gains Network) PENGU/USDshort	L +0.0007% / S −0.0003%	1h	0.008663	+0.094%	$33K	—	150x
dYdX PENGU-USD	+0.0007%	1h	0.008657	+0.018%	$11K	$4K	5x	as long as short
Bybit PENGUUSDT	+0.0037%	4h	0.008642	−0.150%	$22.5M	$36.0M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008652	−0.035%	$296K	$723K	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	0.008650	−0.058%	$671K	$756K	5x	as long as short
Hyperliquid PENGUlong	+0.0100%	1h	0.008655	long leg	$8.6M	$15.2M	5x
Aster PENGUUSDT	+0.0100%	4h	0.008655	−0.002%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008652	−0.035%	$146K	$236K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008652	−0.035%	$35.8M	$151.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008651	−0.046%	$7.6M	$46.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008650	−0.058%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008651	−0.046%	$12.7M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008653	−0.023%	$4.7M	$8.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008655	0.000%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008641	−0.162%	—	$2.3M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008675	+0.232%	$797K	$715K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008682	+0.316%	$454K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008681	+0.300%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008662	+0.081%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008866	+2.438%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008656	+0.012%	$991	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008674	+0.220%	$91K	$250K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008650	−0.063%	$178K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008656	+0.012%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008661	+0.067%	$292	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008663	+0.092%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0502% / S −0.0703%	1h	0.008663	+0.092%	$112K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008728	+0.843%	$94K	$97K	50x	as long as short