PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0065%/8h= −7.2% APRnext payment −$0.08 per $10,000 · paid last 24h −0.029%

Price spread now: Backpack against SoDEX−0.034%7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Backpack is 0.034% cheaper against SoDEX than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX PENGU-USD	0.008829	0.0100	pay 0.0013% / 1h	40m 50s	$1K	$5K	5x
Short	Backpack PENGU_USDC_PERP	0.008826	0.0035	get 0.0004% / 1h	40m 50s	$310K	$312K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against SoDEX. 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 SoDEXbpFee BackpackbpOrdersPrice spread, now −0.034%Rate

Funding earned: −$13.74
Price spread: −0.034% → 0.000%: −$3.4
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$35.13
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Backpack: live order book, 33 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 SoDEX no order-book sample	—	—	—	—	—
Sell Backpack live order book, 33 min ago	0.57 bp	12.1 bp −$12	doesn't fit	doesn't fit	doesn't fit

SoDEX: 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	−0.0391%	1h	0.008841	+0.140%	$370K	$2.3M	50x	as long as short
Gate PENGU_USDT	−0.0334%	4h	0.008827	−0.023%	$3.4M	$15.5M	75x	as long as short
Variational Omni PENGU	−0.0292%	4h	0.008826	−0.032%	$872K	$931K	—	as long as short
01 Exchange PENGUUSD	−0.0224%	1h	0.008833	+0.045%	$202	$59	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0203%	1h	0.008830	+0.011%	$18K	$10K	10x	as long as short
Bybit PENGUUSDT	−0.0112%	4h	0.008825	−0.045%	$23.3M	$37.4M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008832	+0.033%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.453%	$3K	$117K	5.5x	as long as short
Backpack PENGU_USDC_PERPshort	+0.0035%	1h	0.008826	−0.034%	$310K	$312K	10x
Nado PENGU-PERP	+0.0059%	1h	0.008834	+0.057%	$700K	$773K	5x	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	+0.0062%	1h	0.008834	+0.055%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perp	+0.0064%	4h	0.008824	−0.058%	$468K	$2.1M	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008833	+0.045%	$309K	$727K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008833	+0.045%	$24K	$183K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008827	−0.023%	$8.3M	$15.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008833	+0.048%	$189K	$481K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008834	+0.057%	$152K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008829	0.000%	$37.0M	$155.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008826	−0.034%	$7.6M	$47.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008830	+0.011%	$19K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008829	0.000%	$12.4M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008827	−0.023%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008829	0.000%	$8.4M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008821	−0.091%	—	$2.3M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008789	−0.453%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009036	+2.345%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USDlong	+0.0100%	1h	0.008829	long leg	$1K	$5K	5x
HTX PENGU-USDT	+0.0100%	4h	0.008840	+0.125%	$91K	$295K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008825	−0.044%	$182K	$816K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008824	−0.057%	$204K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008824	−0.059%	$298	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008832	+0.034%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0516% / S −0.0720%	1h	0.008831	+0.023%	$116K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.008850	+0.238%	$94K	$103K	50x	as long as short