PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0220%/8h= −24.1% APRnext payment −$0.28 per $10,000 · paid last 24h −0.007%

Price spread now: Backpack against 01 Exchange−0.481%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 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 −$7 a day on $10k at the current rate, and Backpack is 0.481% cheaper against 01 Exchange than usual: you would sell low and buy high (−$48 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	01 Exchange PENGUUSD	0.009143	0.0320	pay 0.0040% / 1h	43m 34s	$209	$41	5x
Short	Backpack PENGU_USDC_PERP	0.009099	0.0100	get 0.0013% / 1h	43m 34s	$296K	$371K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against 01 Exchange. 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 01 ExchangebpFee BackpackbpOrdersPrice spread, now −0.481%Rate

Funding earned: −$46.2
Price spread: −0.481% → 0.000%: −$48.12
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$111.32
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; Backpack: live order book, 60 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Backpack live order book, 60 min ago	2.20 bp	14.3 bp −$14	doesn't fit	doesn't fit	doesn't fit

01 Exchange: 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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009110	−0.365%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.872%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0079%	1h	0.009114	−0.317%	$1K	$29K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.009125	−0.197%	$328K	$770K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009114	−0.314%	$642K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009113	−0.328%	$9.2M	$16.4M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009136	−0.072%	$144K	$715K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009119	−0.262%	$138K	$264K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009136	−0.072%	$39.9M	$191.7M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009121	−0.241%	$24.4M	$44.7M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009124	−0.208%	$8.0M	$56.0M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009150	+0.077%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009133	−0.109%	$3.7M	$17.6M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009140	−0.033%	$10.9M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009108	−0.383%	$5.0M	$10.3M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009147	+0.044%	$8.8M	$14.1M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009140	−0.033%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERPshort	+0.0100%	1h	0.009099	−0.481%	$296K	$371K	10x
Variational Omni PENGU	+0.0100%	4h	0.009112	−0.342%	$928K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009128	−0.164%	$483K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009134	−0.098%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009116	−0.295%	$23K	$265K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009349	+2.253%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009106	−0.405%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009151	+0.087%	$94K	$404K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009141	−0.024%	$187K	$721K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009108	−0.383%	$210K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009108	−0.379%	$308	—	10x	as long as short
01 Exchange PENGUUSDlong	+0.0320%	1h	0.009143	long leg	$209	$41	5x
BloFin PENGU-USDT	+0.0340%	4h	0.009142	−0.011%	$1.6M	$5.0M	75x	as long as short
dYdX PENGU-USD	+0.0390%	1h	0.009121	−0.238%	$12K	$6K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0433% / S −0.0352%	1h	0.009108	−0.383%	$104K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0536%	1h	0.009113	−0.331%	$341K	$2.6M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1928%	1h	0.009196	+0.580%	$81K	$74K	50x	as long as short