PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0418%/8h= −45.7% APRnext payment −$2.09 per $10,000 · paid last 24h −0.014%

Price spread now: Gate against Orderly+0.023%7-day average 0.000% · you sell dearer than you buy

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

Long on Orderly Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.089%−$9 on $10k

Price spread, last 3 days (all we have)−0.020%−$2 · spread now +0.023%, 7d avg 0.000%

Together, before fees−0.109%−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.023% dearer against Orderly than usual: you sell high and buy low (spread +0.023% now, against its 7-day average of 0.000%): +$2 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−0.089% in total) that is about 44 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.089% in total (about -4.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.09 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	Orderly PERP_PENGU_USDC	0.008703	0.0100	pay 0.0050% / 4h	10m 54s	$23K	$186K	20x
Short	Gate PENGU_USDT	0.008705	−0.0318	pay 0.0159% / 4h	10m 54s	$3.4M	$15.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Orderly. 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 OrderlybpFee GatebpOrdersPrice spread, now +0.023%Rate

Funding earned: −$87.7
Price spread: +0.023% → 0.000%: $2.34
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$106.36
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Gate: live order book, 3 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Gate live order book, 3 min ago	2.29 bp	15.2 bp −$15	45.4 bp −$454	doesn't fit	doesn't fit

Orderly: 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
Kraken Futures PF_PENGUUSD	−0.0344%	1h	0.008710	+0.082%	$366K	$2.3M	50x	as long as short
Bybit PENGUUSDT	−0.0332%	4h	0.008709	+0.069%	$22.7M	$36.9M	75x	as long as short
Gate PENGU_USDTshort	−0.0318%	4h	0.008705	+0.023%	$3.4M	$15.7M	75x
Variational Omni PENGU	−0.0310%	4h	0.008693	−0.112%	$859K	$927K	—	as long as short
01 Exchange PENGUUSD	−0.0280%	1h	0.008698	−0.057%	$199	$59	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0209%	1h	0.008702	−0.011%	$18K	$10K	10x	as long as short
Backpack PENGU_USDC_PERP	−0.0187%	1h	0.008700	−0.034%	$306K	$315K	10x	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	+0.988%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	−0.0022%	1h	0.008707	+0.040%	$692K	$777K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008706	+0.037%	$33K	—	150x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENGU-USD	+0.0019%	1h	0.008716	+0.154%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perp	+0.0078%	4h	0.008721	+0.207%	$456K	$2.1M	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008703	0.000%	$304K	$741K	8x	as long as short
Orderly PERP_PENGU_USDClong	+0.0100%	4h	0.008703	long leg	$23K	$186K	20x
Hyperliquid PENGU	+0.0100%	1h	0.008704	+0.011%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008708	+0.062%	$187K	$474K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008712	+0.103%	$150K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008713	+0.115%	$36.1M	$155.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008712	+0.103%	$7.5M	$46.8M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008710	+0.080%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008714	+0.126%	$12.3M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008703	0.000%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008716	+0.149%	$8.3M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008693	−0.115%	—	$2.3M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008729	+0.299%	$79K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008915	+2.436%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008699	−0.046%	$998	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008718	+0.172%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008711	+0.096%	$179K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008697	−0.069%	$201K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008703	−0.001%	$294	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008706	+0.034%	$1.5M	$2.7M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0495% / S −0.0683%	1h	0.008705	+0.023%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008768	+0.747%	$93K	$103K	50x	as long as short