PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0068%/8h= −7.5% APRnext payment −$0.09 per $10,000 · paid last 24h +0.123%

Price spread now: GMX against Kraken Futures−0.039%7-day average −0.047% · you buy dearer than you sell

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

Long on Kraken Futures Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.254%+$25 on $10k

Price spread, last 4 days (all we have)+0.048%+$5 · spread now −0.039%, 7d avg −0.047%

Together, before fees+0.302%+$30 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.047%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.254%, 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	Kraken Futures PF_PENGUUSD	0.008750	0.0650	pay 0.0081% / 1h	34m 48s	$354K	$2.3M	50x
Short	GMX PENGU/USD [WBTC.b-USDC]	0.008747	L +0.0510% / S −0.0582%	get 0.0073% / 1h	34m 48s	$119K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Kraken Futures. 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 Kraken FuturesbpFee GMXbpOrdersPrice spread, now −0.039%Rate

Funding earned: −$14.3
Price spread: −0.039% → −0.047%: $0.81
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$35.48
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 4 min ago; GMX: 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 Kraken Futures live order book, 4 min ago	6.88 bp	20.4 bp −$20	52.3 bp −$523	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
01 Exchange PENGUUSD	−0.0040%	1h	0.008739	−0.130%	$200	$64	5x	as long as short
Gate PENGU_USDT	−0.0014%	4h	0.008731	−0.222%	$3.3M	$15.6M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008748	−0.028%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008748	−0.030%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.441%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008751	+0.007%	$311K	$709K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008748	−0.028%	$23K	$166K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008721	−0.336%	$8.1M	$14.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008749	−0.016%	$121K	$577K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008732	−0.210%	$154K	$243K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.008731	−0.222%	$36.5M	$160.0M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008718	−0.370%	$23.2M	$38.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008718	−0.370%	$7.5M	$46.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008740	−0.119%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008732	−0.210%	$11.5M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008745	−0.062%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008726	−0.279%	$8.2M	$12.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008718	−0.370%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008747	−0.039%	$300K	$275K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008738	−0.144%	$868K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008720	−0.351%	$466K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008717	−0.382%	$80K	$243K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008741	−0.102%	$586K	$1.0M	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008956	+2.349%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008747	−0.039%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008772	+0.247%	$91K	$348K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008739	−0.136%	$180K	$944K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008738	−0.142%	$202K	—	3x	as long as short
dYdX PENGU-USD	+0.0189%	1h	0.008729	−0.248%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008742	−0.095%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008744	−0.073%	$1.5M	$3.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]short	L +0.0510% / S −0.0582%	1h	0.008747	−0.039%	$119K	—	100x
Kraken Futures PF_PENGUUSDlong	+0.0650%	1h	0.008750	long leg	$354K	$2.3M	50x
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.475%	$95K	$94K	50x	as long as short