PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0216%/8h= −23.7% APRnext payment −$0.27 per $10,000 · paid last 24h −0.003%

Price spread now: Extended against Kraken Futures+0.328%7-day average −0.131% · you sell dearer than you buy

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$570.571% of the position

Long on Kraken Futures Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.096%−$10 on $10k

Price spread, last 4 days (all we have)−0.502%−$50 · spread now +0.328%, 7d avg −0.131%

Together, before fees−0.598%+ Points / potential airdropExtended: Active · farm board−$60 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.459% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.328% now, against its 7-day average of −0.131%): +$46 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 7.1 days. At the pace of the last 7 days (−0.096% in total) that is about 33 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.096% in total (about -5.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.27 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_PENGUUSD	0.008825	0.0320	pay 0.0040% / 1h	20m 20s	$322K	$2.4M	50x
Short	Extended PENGU-USD	0.008854	0.0104	get 0.0013% / 1h	20m 20s	$182K	$876K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Kraken Futures. 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 Kraken FuturesbpFee ExtendedbpOrdersPrice spread, now +0.328%Rate

Funding earned: −$45.36
Price spread: +0.328% → −0.131%: $45.87
Slippage, 4 orders: −$42.14
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$56.63
Costs to cover: 0.571%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; Extended: live order book, 28 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 Kraken Futures live order book, 3 min ago	3.43 bp	20.7 bp −$21	51.5 bp −$515	doesn't fit	doesn't fit
Sell Extended live order book, 28 min ago	1.70 bp	10.8 bp −$11	58.2 bp −$582	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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008821	−0.047%	$17K	$12K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008858	+0.369%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.409%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008859	+0.384%	$321K	$750K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008855	+0.339%	$594K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008862	+0.418%	$8.1M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008855	+0.341%	$121K	$667K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008853	+0.316%	$134K	$274K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008862	+0.419%	$37.4M	$177.3M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008855	+0.339%	$23.5M	$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	0.008859	+0.384%	$7.5M	$51.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008860	+0.395%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008859	+0.384%	$3.3M	$16.6M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008857	+0.361%	$10.5M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008848	+0.259%	$4.9M	$9.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008854	+0.327%	$8.5M	$13.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008854	+0.327%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008821	−0.047%	$291K	$338K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008816	−0.104%	$920K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008765	−0.678%	$458K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008756	−0.783%	$79K	$250K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008857	+0.361%	$23K	$174K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009033	+2.356%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008819	−0.069%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008834	+0.101%	$92K	$392K	25x	as long as short
Extended PENGU-USDshort	+0.0104%	1h	0.008854	+0.328%	$182K	$876K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008815	−0.114%	$204K	—	3x	as long as short
dYdX PENGU-USD	+0.0176%	1h	0.008848	+0.256%	$12K	$6K	5x	as long as short
01 Exchange PENGUUSD	+0.0184%	1h	0.008852	+0.305%	$203	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008855	+0.341%	$299	—	10x	as long as short
Kraken Futures PF_PENGUUSDlong	+0.0320%	1h	0.008825	long leg	$322K	$2.4M	50x
BloFin PENGU-USDT	+0.0340%	4h	0.008841	+0.180%	$1.5M	$4.7M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0503% / S −0.0466%	1h	0.008857	+0.361%	$123K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.008845	+0.225%	$78K	$76K	50x	as long as short