PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.1988%/8h= +217.7% APRnext payment +$2.49 per $10,000 · paid last 24h +0.669%

Price spread now: Coinbase International against Backpack+0.611%7-day average — · you sell dearer than you buy

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

Long on Backpack Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+1.932%+$193 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$60 a day on $10k at the current rate, and Coinbase International is 0.611% dearer against Backpack than usual: you sell high and buy low: +$61 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack PENGU_USDC_PERP	0.009169	0.0100	pay 0.0013% / 1h	12m 56s	$303K	$374K	10x
Short	Coinbase International PENGU-PERP-INTX	0.009225	0.2088	get 0.0261% / 1h	12m 56s	$81K	$73K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Backpack. 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 BackpackbpFee Coinbase InternationalbpOrdersPrice spread, now +0.611%Rate

Funding earned: $417.48
Price spread: +0.611% → 0.000%: $61.08
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $458.56
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: Backpack: live order book, 21 min ago; Coinbase International: no order-book sample. 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 Backpack live order book, 21 min ago	0.55 bp	9.9 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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
Gate PENGU_USDT	−0.0076%	4h	0.009166	−0.033%	$3.7M	$18.2M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009164	−0.059%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−4.144%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009171	+0.022%	$329K	$769K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009162	−0.076%	$650K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009181	+0.131%	$9.5M	$16.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009171	+0.022%	$132K	$771K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009175	+0.065%	$140K	$234K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009177	+0.084%	$40.8M	$196.4M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009175	+0.065%	$24.8M	$47.0M	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	0.009177	+0.087%	$8.4M	$58.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009180	+0.120%	$19K	$26K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009174	+0.055%	$11.7M	$13.1M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009172	+0.033%	$5.0M	$10.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009180	+0.120%	$8.9M	$15.1M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009160	−0.098%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERPlong	+0.0100%	1h	0.009169	long leg	$303K	$374K	10x
Variational Omni PENGU	+0.0100%	4h	0.009151	−0.194%	$946K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009152	−0.189%	$481K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009151	−0.196%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009164	−0.055%	$24K	$341K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009378	+2.279%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009163	−0.065%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009187	+0.196%	$96K	$417K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009171	+0.023%	$188K	$747K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009159	−0.109%	$212K	—	3x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0186%	1h	0.009169	0.000%	$1K	$28K	10x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009158	−0.121%	$309	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009170	+0.011%	$1.6M	$5.3M	75x	as long as short
01 Exchange PENGUUSD	+0.0352%	1h	0.009185	+0.175%	$210	$141	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0377%	1h	0.009167	−0.021%	$339K	$2.7M	50x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0433% / S −0.0351%	1h	0.009163	−0.065%	$105K	—	100x	as long as short
dYdX PENGU-USD	+0.1513%	1h	0.009172	+0.034%	$22K	$18K	5x	as long as short
Coinbase International PENGU-PERP-INTXshort	+0.2088%	1h	0.009225	+0.611%	$81K	$73K	50x