PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0067%/8h= +7.3% APRnext payment +$0.08 per $10,000 · paid last 24h −0.079%

Price spread now: Hyperliquid against Injective+0.455%7-day average +0.791% · you sell dearer than you buy

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

Long on Injective Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.281%−$28 on $10k

Price spread, last 3 days (all we have)+0.513%+$51 · spread now +0.455%, 7d avg +0.791%

Together, before fees+0.233%+ Points / potential airdropHyperliquid: Season 2 · farm board+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.336% cheaper against Injective than usual: you would sell low and buy high (spread +0.455% now, against its 7-day average of +0.791%). If the spread goes back, that is −$34 on $10k: about 17 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.281%, so the current rate has only just turned in your favour.

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	50m 56s	$3K	$117K	5.5x
Short	Hyperliquid PENGU	0.008829	0.0100	get 0.0013% / 1h	50m 56s	$8.3M	$15.0M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 HyperliquidbpOrdersPrice spread, now +0.455%Rate

Funding earned: $14
Price spread: +0.455% → +0.791%: −$33.59
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$28.61
Costs to cover: 0.090%
Break-even: 21.3 days

Slippage unknown: Injective: no order-book sample; Hyperliquid: live order book, 12 min ago. 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 Hyperliquid live order book, 12 min ago	0.57 bp	6.6 bp −$7	doesn't fit	doesn't fit	doesn't fit

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
ApeX Omni PENGUUSDT	−0.0499%	1h	0.008806	+0.193%	$80K	$249K	50x	as long as short
Nado PENGU-PERP	−0.0215%	1h	0.008820	+0.353%	$515K	$903K	5x	as long as short
Gate PENGU_USDT	−0.0094%	4h	0.008835	+0.523%	$3.4M	$15.3M	75x	as long as short
Variational Omni PENGU	−0.0083%	4h	0.008816	+0.309%	$873K	$1.0M	—	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008827	+0.432%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008824	+0.393%	$33K	—	150x	as long as short
Injective PENGU/USDC PERPlong	+0.0033%	1h	0.008789	long leg	$3K	$117K	5.5x
01 Exchange PENGUUSD	+0.0040%	1h	0.008826	+0.421%	$202	$64	5x	as long as short
dYdX PENGU-USD	+0.0073%	1h	0.008816	+0.303%	$12K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008831	+0.478%	$307K	$698K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PENGU_USDC	+0.0097%	4h	0.008826	+0.421%	$19K	$178K	20x	as long as short
Hyperliquid PENGUshort	+0.0100%	1h	0.008829	+0.455%	$8.3M	$15.0M	5x
Aster PENGUUSDT	+0.0100%	4h	0.008826	+0.424%	$169K	$442K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008810	+0.239%	$152K	$240K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008837	+0.546%	$37.4M	$156.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008834	+0.512%	$23.0M	$37.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008841	+0.592%	$7.5M	$47.8M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008820	+0.353%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008830	+0.466%	$12.3M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008833	+0.501%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008847	+0.660%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008825	+0.410%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008825	+0.410%	$302K	$323K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008818	+0.329%	$467K	$2.0M	10x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009042	+2.879%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008826	+0.421%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008821	+0.364%	$90K	$317K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008828	+0.444%	$182K	$940K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008824	+0.398%	$204K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0209%	1h	0.008835	+0.523%	$365K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008817	+0.322%	$298	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008826	+0.421%	$1.5M	$3.2M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0498% / S −0.0675%	1h	0.008823	+0.387%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+2.025%	$95K	$104K	50x	as long as short