PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0008%/8h= +0.9% APRnext payment +$0.01 per $10,000 · paid last 24h +0.002%

Price spread now: Aevo against Lighter−0.023%7-day average −0.070% · you buy dearer than you sell

Net, funding: paid 7d − costs−$128as in the Funding arb table

Net, price: spread back to 7d avg − costs−$124as in the Price arb table

costs, in and out, $10k−$1291.291% of the position

Long on Lighter Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 3 days (all we have)−0.123%−$12 · spread now −0.023%, 7d avg −0.070%

Together, before fees−0.109%+ Points / potential airdropLighter: Season 3 · farm board−$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aevo is 0.047% dearer against Lighter than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.070%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PENGU	0.008667	0.0096	pay 0.0012% / 1h	44m 13s	$294K	$719K	8x
Short	Aevo PENGU-PERP	0.008665	0.0104	get 0.0013% / 1h	44m 13s	$200K	$17K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Lighter. 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 LighterbpFee AevobpOrdersPrice spread, now −0.023%Rate

Funding earned: $1.68
Price spread: −0.023% → −0.070%: $4.72
Slippage, 4 orders: −$113.05
Fee Lighter: 0 bp × 2 orders: $0
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$122.65
Costs to cover: 1.291%
Break-even: 518.1 days

Slippage from Lighter: live order book, 40 min ago; Aevo: live order book, 44 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 Lighter live order book, 40 min ago	4.58 bp	13.9 bp −$14	75.6 bp −$756	doesn't fit	doesn't fit
Sell Aevo live order book, 44 min ago	17.09 bp	52.3 bp −$52	313.3 bp −$3,133	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
Kraken Futures PF_PENGUUSD	−0.0552%	1h	0.008669	+0.018%	$384K	$2.1M	50x	as long as short
Gate PENGU_USDT	−0.0360%	4h	0.008661	−0.069%	$3.4M	$15.3M	75x	as long as short
Bybit PENGUUSDT	−0.0326%	4h	0.008661	−0.069%	$22.6M	$35.7M	75x	as long as short
Backpack PENGU_USDC_PERP	−0.0221%	1h	0.008664	−0.035%	$309K	$316K	10x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.554%	$3K	$81K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0096%	1h	0.008669	+0.023%	$19K	$9K	10x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008668	+0.012%	$11K	$4K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008671	+0.041%	$33K	—	150x	as long as short
01 Exchange PENGUUSD	+0.0024%	1h	0.008666	−0.012%	$198	$59	5x	as long as short
Lighter PENGUlong	+0.0096%	1h	0.008667	long leg	$294K	$719K	8x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PENGU-PERP	+0.0100%	1h	0.008664	−0.035%	$672K	$758K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008675	+0.092%	$8.7M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008671	+0.050%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008663	−0.046%	$142K	$232K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008666	−0.009%	$35.8M	$150.8M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008665	−0.023%	$7.7M	$46.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008670	+0.035%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008666	−0.012%	$12.8M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008665	−0.023%	$4.7M	$8.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008670	+0.035%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008663	−0.046%	—	$4.0M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008657	−0.121%	$795K	$712K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008668	+0.006%	$453K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008670	+0.035%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008669	+0.023%	$21K	$184K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008875	+2.400%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008665	−0.023%	$977	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008675	+0.092%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008662	−0.058%	$177K	$681K	10x	as long as short
Aevo PENGU-PERPshort	+0.0104%	1h	0.008665	−0.023%	$200K	$17K	3x
Reya PENGURUSDPERP	+0.0237%	1h	0.008667	−0.002%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008664	−0.035%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0490% / S −0.0675%	1h	0.008669	+0.023%	$108K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008903	+2.723%	$94K	$97K	50x	as long as short