PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0067%/8h= −7.3% APRnext payment −$0.08 per $10,000 · paid last 24h +0.082%

Price spread now: Injective against Hyperliquid−1.358%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.285%+$28 on $10k

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

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

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 1.358% cheaper against Hyperliquid than usual: you would sell low and buy high (−$136 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.285%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid PENGU	0.008835	0.0100	pay 0.0013% / 1h	39m 22s	$8.8M	$15.0M	5x
Short	Injective PENGU/USDC PERP	0.008715	0.0033	get 0.0004% / 1h	39m 22s	$3K	$81K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −1.358%Rate

Funding earned: −$14
Price spread: −1.358% → 0.000%: −$135.82
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$158.84
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 3 min ago; Injective: 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, 3 min ago	1.13 bp	9.1 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.0604%	1h	0.008834	−0.010%	$372K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0308%	4h	0.008831	−0.045%	$3.5M	$15.5M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0203%	1h	0.008824	−0.125%	$19K	$9K	10x	as long as short
01 Exchange PENGUUSD	−0.0080%	1h	0.008836	+0.011%	$202	$59	5x	as long as short
Bybit PENGUUSDT	−0.0067%	4h	0.008822	−0.147%	$22.9M	$36.1M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008835	−0.001%	$34K	—	150x	as long as short
Injective PENGU/USDC PERPshort	+0.0033%	1h	0.008715	−1.358%	$3K	$81K	5.5x
Variational Omni PENGU	+0.0082%	4h	0.008816	−0.210%	$839K	$768K	—	as long as short
Lighter PENGU	+0.0096%	1h	0.008828	−0.079%	$302K	$726K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008836	+0.011%	$684K	$757K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGUlong	+0.0100%	1h	0.008835	long leg	$8.8M	$15.0M	5x
Aster PENGUUSDT	+0.0100%	4h	0.008839	+0.049%	$175K	$465K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008838	+0.034%	$152K	$238K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008826	−0.102%	$36.6M	$151.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008824	−0.125%	$7.7M	$47.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008840	+0.057%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008833	−0.023%	$13.0M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008834	−0.011%	$4.8M	$8.8M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008828	−0.079%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008819	−0.181%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008840	+0.057%	$315K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008825	−0.113%	$462K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008824	−0.125%	$80K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008828	−0.079%	$24K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009044	+2.366%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008824	−0.125%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008843	+0.091%	$92K	$250K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008822	−0.147%	$182K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008820	−0.170%	$204K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0141%	1h	0.008840	+0.060%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008831	−0.049%	$298	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008819	−0.181%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0711%	1h	0.008835	0.000%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008936	+1.143%	$95K	$105K	50x	as long as short