PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0008%/8h= −0.9% APRnext payment −$0.01 per $10,000 · paid last 24h −0.002%

Price spread now: Lighter against Aevo+0.149%7-day average +0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$1041.038% of the position

Long on Aevo Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 3 days (all we have)−0.063%−$6 · spread now +0.149%, 7d avg +0.065%

Together, before fees−0.078%+ Points / potential airdropLighter: Season 3 · farm board−$8 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 0.084% dearer against Aevo than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENGU-PERP	0.008725	0.0104	pay 0.0013% / 1h	20m 44s	$202K	$17K	3x
Short	Lighter PENGU	0.008738	0.0096	get 0.0012% / 1h	20m 44s	$306K	$741K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aevo. 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 AevobpFee LighterbpOrdersPrice spread, now +0.149%Rate

Funding earned: −$1.68
Price spread: +0.149% → +0.065%: $8.36
Slippage, 4 orders: −$87.82
Fee Aevo: 8 bp × 2 orders: −$16
Fee Lighter: 0 bp × 2 orders: $0
Net: −$97.13
Costs to cover: 1.038%
Break-even: never at this rate

Slippage from Aevo: live order book, 58 min ago; Lighter: live order book, 54 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 Aevo live order book, 58 min ago	17.08 bp	44.6 bp −$45	257.2 bp −$2,572	doesn't fit	doesn't fit
Sell Lighter live order book, 54 min ago	3.97 bp	8.6 bp −$9	73.9 bp −$739	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	−0.0343%	1h	0.008734	+0.098%	$367K	$2.3M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0323%	1h	0.008726	+0.011%	$19K	$9K	10x	as long as short
Gate PENGU_USDT	−0.0300%	4h	0.008732	+0.080%	$3.4M	$15.6M	75x	as long as short
Bybit PENGUUSDT	−0.0299%	4h	0.008723	−0.023%	$22.6M	$36.8M	75x	as long as short
Variational Omni PENGU	−0.0261%	4h	0.008723	−0.019%	$768K	$832K	—	as long as short
01 Exchange PENGUUSD	−0.0248%	1h	0.008731	+0.069%	$200	$59	5x	as long as short
Backpack PENGU_USDC_PERP	−0.0167%	1h	0.008726	+0.011%	$311K	$313K	10x	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	+0.734%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	+0.0001%	1h	0.008729	+0.046%	$694K	$776K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008732	+0.080%	$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	+0.0023%	1h	0.008738	+0.154%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perp	+0.0090%	4h	0.008735	+0.116%	$457K	$2.1M	10x	as long as short
Lighter PENGUshort	+0.0096%	1h	0.008738	+0.149%	$306K	$741K	8x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008727	+0.023%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008736	+0.126%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008740	+0.172%	$188K	$470K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008737	+0.138%	$151K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008730	+0.057%	$36.1M	$154.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008730	+0.057%	$7.5M	$46.9M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008740	+0.172%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008735	+0.115%	$12.3M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008736	+0.126%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008739	+0.160%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008727	+0.023%	—	$2.3M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008731	+0.069%	$79K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008943	+2.499%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008723	−0.023%	$998	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008751	+0.298%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008734	+0.107%	$180K	$622K	10x	as long as short
Aevo PENGU-PERPlong	+0.0104%	1h	0.008725	long leg	$202K	$17K	3x
Reya PENGURUSDPERP	+0.0238%	1h	0.008729	+0.040%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008728	+0.034%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0496% / S −0.0683%	1h	0.008732	+0.080%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008768	+0.493%	$93K	$103K	50x	as long as short