PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0008%/8h= +0.9% APRnext payment +$0.01 per $10,000 · paid last 24h +0.002%

Price spread now: Extended against Lighter−0.032%7-day average −0.091% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$400.398% of the position

Long on Lighter Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)−0.071%−$7 · spread now −0.032%, 7d avg −0.091%

Together, before fees−0.079%+ Points / potential airdropLighter: Season 3 · Extended: Active · farm board−$8 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: Extended is 0.060% dearer against Lighter than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.091%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PENGU	0.008796	0.0096	pay 0.0012% / 1h	12m 17s	$309K	$736K	8x
Short	Extended PENGU-USD	0.008793	0.0104	get 0.0013% / 1h	12m 17s	$181K	$682K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.032%Rate

Funding earned: $1.68
Price spread: −0.032% → −0.091%: $5.96
Slippage, 4 orders: −$34.79
Fee Lighter: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$32.16
Costs to cover: 0.398%
Break-even: 141.0 days

Slippage from Lighter: live order book, 3 min ago; Extended: live order book, 6 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, 3 min ago	3.97 bp	9.4 bp −$9	74.2 bp −$742	doesn't fit	doesn't fit
Sell Extended live order book, 6 min ago	1.71 bp	10.9 bp −$11	81.3 bp −$813	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	−0.0606%	1h	0.008804	+0.095%	$368K	$2.2M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0318%	1h	0.008798	+0.023%	$19K	$9K	10x	as long as short
Gate PENGU_USDT	−0.0292%	4h	0.008795	−0.011%	$3.4M	$15.6M	75x	as long as short
Bybit PENGUUSDT	−0.0172%	4h	0.008791	−0.057%	$22.9M	$36.5M	75x	as long as short
01 Exchange PENGUUSD	−0.0104%	1h	0.008794	−0.023%	$201	$59	5x	as long as short
Variational Omni PENGU	−0.0046%	4h	0.008785	−0.120%	$802K	$802K	—	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008799	+0.038%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.080%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	+0.0076%	1h	0.008794	−0.026%	$685K	$760K	5x	as long as short
Lighter PENGUlong	+0.0096%	1h	0.008796	long leg	$309K	$736K	8x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008802	+0.068%	$8.8M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008801	+0.052%	$189K	$467K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008797	+0.011%	$152K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008797	+0.011%	$36.5M	$153.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008785	−0.125%	$7.7M	$47.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008800	+0.045%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008794	−0.023%	$12.7M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008800	+0.045%	$4.8M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008799	+0.034%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008794	−0.023%	—	$3.9M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008789	−0.080%	$313K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008784	−0.136%	$459K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008788	−0.091%	$80K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008798	+0.023%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009006	+2.387%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008793	−0.034%	$999	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008806	+0.114%	$92K	$249K	25x	as long as short
Extended PENGU-USDshort	+0.0104%	1h	0.008793	−0.032%	$181K	$682K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008791	−0.057%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0119%	1h	0.008797	+0.011%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008794	−0.023%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008788	−0.091%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0711%	1h	0.008800	+0.045%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008896	+1.137%	$95K	$105K	50x	as long as short