PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0110%/8h= −12.1% APRnext payment −$0.14 per $10,000 · paid last 24h −0.015%

Price spread now: Nado against Hyperliquid−0.088%7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$380.376% of the position

Long on Hyperliquid Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.080%−$8 on $10k

Price spread, last 4 days (all we have)+0.293%+$29 · spread now −0.088%, 7d avg −0.038%

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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Nado is 0.051% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.038%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid PENGU	0.009049	0.0210	pay 0.0026% / 1h	8m 22s	$9.1M	$16.3M	5x
Short	Nado PENGU-PERP	0.009041	0.0100	get 0.0012% / 1h	8m 22s	$637K	$1.1M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.088%Rate

Funding earned: −$23.14
Price spread: −0.088% → −0.038%: −$5.06
Slippage, 4 orders: −$21.56
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$65.76
Costs to cover: 0.376%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; Nado: 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 Hyperliquid live order book, 4 min ago	0.55 bp	10.7 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 5 min ago	2.22 bp	10.4 bp −$10	24.9 bp −$249	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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009045	−0.047%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.873%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009045	−0.044%	$325K	$771K	8x	as long as short
Nado PENGU-PERPshort	+0.0100%	1h	0.009041	−0.088%	$637K	$1.1M	5x
Aster PENGUUSDT	+0.0100%	4h	0.009049	+0.004%	$143K	$716K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009037	−0.133%	$136K	$260K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009045	−0.048%	$39.5M	$189.7M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009038	−0.122%	$24.0M	$44.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009042	−0.077%	$8.0M	$54.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009040	−0.099%	$18K	$25K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENGU_USDT	+0.0100%	4h	0.009037	−0.133%	$3.7M	$17.6M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009044	−0.055%	$11.0M	$13.0M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009038	−0.122%	$5.1M	$10.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009048	−0.011%	$8.7M	$13.9M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009037	−0.133%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009048	−0.011%	$296K	$368K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009045	−0.046%	$921K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009055	+0.067%	$475K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009057	+0.088%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009046	−0.033%	$23K	$243K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009266	+2.398%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009046	−0.033%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009056	+0.077%	$93K	$404K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009043	−0.067%	$185K	$523K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009043	−0.066%	$209K	—	3x	as long as short
Hyperliquid PENGUlong	+0.0210%	1h	0.009049	long leg	$9.1M	$16.3M	5x
Reya PENGURUSDPERP	+0.0240%	1h	0.009044	−0.054%	$305	—	10x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0303%	1h	0.009051	+0.022%	$1K	$29K	10x	as long as short
01 Exchange PENGUUSD	+0.0328%	1h	0.009038	−0.122%	$207	$60	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009051	+0.022%	$1.6M	$4.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0442% / S −0.0368%	1h	0.009045	−0.044%	$107K	—	100x	as long as short
dYdX PENGU-USD	+0.0564%	1h	0.009043	−0.065%	$12K	$6K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0674%	1h	0.009051	+0.021%	$336K	$2.5M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009135	+0.950%	$80K	$70K	50x	as long as short