PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0416%/8h= −45.6% APRnext payment −$2.08 per $10,000 · paid last 24h −0.015%

Price spread now: Gate against Variational Omni+0.528%7-day average +0.020% · you sell dearer than you buy

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

Long on Variational Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.006%−$1 on $10k

Price spread, last 3 days (all we have)−0.679%−$68 · spread now +0.528%, 7d avg +0.020%

Together, before fees−0.685%+ Points / potential airdropVariational Omni: Active · farm board−$69 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.508% dearer against Variational Omni than usual: you sell high and buy low (spread +0.528% now, against its 7-day average of +0.020%): +$51 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 4.1 days. At the pace of the last 3 days (−0.006% in total) that is about 9 months.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.006% in total (about -0.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.08 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	Variational Omni PENGU	0.008772	0.0100	pay 0.0050% / 4h	1h 41m	$801K	$735K	—
Short	Gate PENGU_USDT	0.008818	−0.0316	pay 0.0158% / 4h	1h 41m	$3.5M	$15.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee GatebpOrdersPrice spread, now +0.528%Rate

Funding earned: −$87.36
Price spread: +0.528% → +0.020%: $50.82
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$51.54
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 43 min ago; Gate: live order book, 2 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 Variational Omni RFQ quote, 43 min ago	4.03 bp	doesn't fit	29.3 bp −$293	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	2.27 bp	14.5 bp −$14	40.7 bp −$407	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	−0.0604%	1h	0.008830	+0.659%	$371K	$2.2M	50x	as long as short
Gate PENGU_USDTshort	−0.0316%	4h	0.008818	+0.528%	$3.5M	$15.5M	75x
Deribit PENGU_USDC-PERPETUAL	−0.0204%	1h	0.008815	+0.494%	$19K	$9K	10x	as long as short
01 Exchange PENGUUSD	−0.0080%	1h	0.008830	+0.665%	$202	$59	5x	as long as short
Bybit PENGUUSDT	−0.0061%	4h	0.008814	+0.483%	$22.9M	$36.1M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008821	+0.559%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008715	−0.646%	$3K	$81K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008821	+0.562%	$301K	$726K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008822	+0.574%	$683K	$757K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008826	+0.619%	$8.8M	$15.0M	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDT	+0.0100%	4h	0.008825	+0.608%	$174K	$449K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008825	+0.608%	$149K	$236K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008820	+0.551%	$36.5M	$151.8M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008822	+0.574%	$7.7M	$47.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008830	+0.665%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008821	+0.562%	$13.1M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008822	+0.574%	$4.8M	$8.8M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008820	+0.551%	$8.4M	$12.5M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008820	+0.551%	—	$3.9M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008833	+0.699%	$315K	$309K	10x	as long as short
Variational Omni PENGUlong	+0.0100%	4h	0.008772	long leg	$801K	$735K	—
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008809	+0.425%	$461K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008809	+0.426%	$80K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008817	+0.517%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009029	+2.934%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008818	+0.528%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008848	+0.870%	$92K	$250K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008815	+0.491%	$181K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008815	+0.494%	$204K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0151%	1h	0.008833	+0.699%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008817	+0.515%	$298	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008820	+0.551%	$1.5M	$2.7M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0711%	1h	0.008821	+0.562%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008863	+1.041%	$94K	$104K	50x	as long as short