PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0030%/8h= −3.3% APRnext payment −$0.04 per $10,000 · paid last 24h −0.120%

Price spread now: gTrade (Gains Network) against Injective−0.030%55s7-day average — · you buy dearer than you sell

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

Long on Injective 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—needs both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and gTrade (Gains Network) is 0.030% cheaper against Injective than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective PENGU/USDC PERP	0.008789	0.0033	pay 0.0004% / 1h	21m 37s	$3K	$117K	5.5x
Short	gTrade (Gains Network) PENGU/USD	0.008786	L +0.0007% / S −0.0003%	get 0.0000% / 1h	21m 37s	$32K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Injective. 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 InjectivebpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.030%Rate

Funding earned: −$6.38
Price spread: −0.030% → 0.000%: −$2.96
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$19.36
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; 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 Injective no order-book sample	—	—	—	—	—
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

Injective and 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
gTrade (Gains Network) PENGU/USDshort	L +0.0007% / S −0.0003%	1h	0.008786	−0.030%	$32K	—	150x
Injective PENGU/USDC PERPlong	+0.0033%	1h	0.008789	long leg	$3K	$117K	5.5x
Deribit PENGU_USDC-PERPETUAL	+0.0091%	1h	0.008795	+0.068%	$17K	$12K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008817	+0.319%	$319K	$750K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008787	−0.026%	$589K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008816	+0.307%	$8.1M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008820	+0.351%	$121K	$667K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008824	+0.398%	$134K	$274K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008832	+0.487%	$37.3M	$177.3M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008824	+0.398%	$23.4M	$42.0M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008834	+0.512%	$7.5M	$51.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008840	+0.580%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008823	+0.387%	$3.3M	$16.6M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008832	+0.489%	$10.5M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008813	+0.273%	$4.9M	$9.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008836	+0.535%	$8.4M	$13.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008831	+0.478%	—	$3.7M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008805	+0.182%	$290K	$338K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008742	−0.534%	$913K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008765	−0.273%	$458K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008750	−0.444%	$79K	$251K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008791	+0.023%	$23K	$174K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008991	+2.298%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008797	+0.091%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008789	0.000%	$91K	$392K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008830	+0.464%	$182K	$876K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008793	+0.046%	$203K	—	3x	as long as short
01 Exchange PENGUUSD	+0.0176%	1h	0.008784	−0.057%	$201	$64	5x	as long as short
dYdX PENGU-USD	+0.0177%	1h	0.008826	+0.420%	$12K	$6K	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008785	−0.042%	$297	—	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0321%	1h	0.008802	+0.153%	$321K	$2.4M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008757	−0.364%	$1.5M	$4.4M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0501% / S −0.0466%	1h	0.008783	−0.068%	$122K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.008825	+0.410%	$78K	$76K	50x	as long as short