PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0482%/8h= +52.8% APRnext payment +$0.60 per $10,000 · paid last 24h +0.095%

Price spread now: GMX against Hyperliquid−0.092%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 Hyperliquid Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.222%+$22 on $10k

Price spread, last 4 days (all we have)−0.010%−$1 · spread now −0.092%, 7d avg +0.006%

Together, before fees+0.212%+ Points / potential airdropHyperliquid: Season 2 · farm board+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.098% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.092% now, against its 7-day average of +0.006%). If the spread goes back, that is −$10 on $10k: about 16 hours of funding at the current rate (+$14 a day). At the pace of the last 3 days (+0.222% in total) that is about 35 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid PENGU	0.008720	0.0100	pay 0.0013% / 1h	45m 08s	$8.1M	$14.6M	5x
Short	GMX PENGU/USD [WBTC.b-USDC]	0.008712	L +0.0510% / S −0.0582%	get 0.0073% / 1h	45m 08s	$119K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.092%Rate

Funding earned: $101.21
Price spread: −0.092% → +0.006%: −$9.82
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: $70.39
Costs to cover: 0.210%
Break-even: 2.1 days

Slippage unknown: Hyperliquid: live order book, 8 min ago; GMX: 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, 8 min ago	1.14 bp	7.3 bp −$7	15.6 bp −$156	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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
Deribit PENGU_USDC-PERPETUAL	−0.0094%	1h	0.008713	−0.080%	$18K	$10K	10x	as long as short
01 Exchange PENGUUSD	0.0000%	1h	0.008722	+0.023%	$200	$64	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008712	−0.092%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0030%	4h	0.008717	−0.034%	$3.4M	$15.5M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.791%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008719	−0.011%	$310K	$709K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008713	−0.080%	$23K	$165K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008717	−0.029%	$587K	$1.0M	5x	as long as short
Hyperliquid PENGUlong	+0.0100%	1h	0.008720	long leg	$8.1M	$14.6M	5x
Aster PENGUUSDT	+0.0100%	4h	0.008718	−0.025%	$128K	$573K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008706	−0.161%	$153K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008717	−0.034%	$36.6M	$159.2M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008715	−0.057%	$23.2M	$38.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008720	0.000%	$7.4M	$46.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008720	0.000%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008715	−0.057%	$11.5M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008710	−0.115%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008721	+0.011%	$8.2M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008717	−0.034%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008718	−0.023%	$299K	$276K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008701	−0.218%	$863K	$986K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008688	−0.364%	$455K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008708	−0.138%	$79K	$243K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008921	+2.305%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008712	−0.092%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008734	+0.161%	$91K	$348K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008711	−0.106%	$182K	$941K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008710	−0.115%	$201K	—	3x	as long as short
dYdX PENGU-USD	+0.0219%	1h	0.008704	−0.179%	$11K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008719	−0.015%	$294	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008710	−0.115%	$1.5M	$3.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]short	L +0.0510% / S −0.0582%	1h	0.008712	−0.092%	$119K	—	100x
Kraken Futures PF_PENGUUSD	+0.0652%	1h	0.008721	+0.017%	$357K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.833%	$95K	$94K	50x	as long as short