PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: Lighter against Nado−0.116%7-day average +0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$490.493% of the position

Long on Nado Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.064%+$6 on $10k

Price spread, last 4 days (all we have)−0.047%−$5 · spread now −0.116%, 7d avg +0.046%

Together, before fees+0.017%+ Points / potential airdropNado: Active · Lighter: Season 3 · farm board+$2 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: Lighter is 0.162% cheaper against Nado than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado PENGU-PERP	0.009013	0.0100	pay 0.0012% / 1h	37m 08s	$633K	$1.1M	5x
Short	Lighter PENGU	0.009003	0.0096	get 0.0012% / 1h	37m 08s	$323K	$767K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Nado. 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 NadobpFee LighterbpOrdersPrice spread, now −0.116%Rate

Funding earned: −$0.84
Price spread: −0.116% → +0.046%: −$16.21
Slippage, 4 orders: −$42.32
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$66.38
Costs to cover: 0.493%
Break-even: never at this rate

Slippage from Nado: live order book, 1 min ago; Lighter: live order book, 3 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 Nado live order book, 1 min ago	2.77 bp	9.7 bp −$10	25.2 bp −$252	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	5.52 bp	10.1 bp −$10	77.1 bp −$771	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	0.009007	−0.072%	$1K	$29K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009020	+0.076%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.491%	$3K	$117K	5.5x	as long as short
Lighter PENGUshort	+0.0096%	1h	0.009003	−0.116%	$323K	$767K	8x
Nado PENGU-PERPlong	+0.0100%	1h	0.009013	long leg	$633K	$1.1M	5x
Aster PENGUUSDT	+0.0100%	4h	0.009000	−0.148%	$129K	$716K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009020	+0.072%	$136K	$295K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008998	−0.177%	$39.4M	$188.7M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008988	−0.283%	$23.8M	$44.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008986	−0.305%	$8.0M	$54.1M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PENGU-USD	+0.0100%	1h	0.009010	−0.039%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008989	−0.272%	$3.4M	$17.2M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008994	−0.216%	$11.1M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008992	−0.239%	$5.1M	$10.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008994	−0.216%	$8.6M	$13.9M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008992	−0.239%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008988	−0.283%	$309K	$362K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009060	+0.515%	$926K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009057	+0.483%	$476K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009074	+0.671%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009005	−0.094%	$23K	$214K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009222	+2.313%	$2K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009006	−0.083%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009030	+0.183%	$93K	$404K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009002	−0.125%	$187K	$698K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009002	−0.128%	$208K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009008	−0.058%	$304	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008992	−0.239%	$1.6M	$4.8M	75x	as long as short
01 Exchange PENGUUSD	+0.0352%	1h	0.009020	+0.072%	$206	$64	5x	as long as short
Hyperliquid PENGU	+0.0392%	1h	0.009000	−0.150%	$9.1M	$16.2M	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0442% / S −0.0368%	1h	0.009005	−0.094%	$106K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0677%	1h	0.009013	−0.003%	$331K	$2.5M	50x	as long as short
dYdX PENGU-USD	+0.0778%	1h	0.009012	−0.020%	$12K	$6K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009151	+1.525%	$81K	$69K	50x	as long as short