PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0017%/8h= +1.8% APRnext payment +$0.02 per $10,000 · paid last 24h −0.025%

Price spread now: Deribit against Backpack+0.023%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 Deribit

What this pair did over the last

the charts below follow

Funding, last 5 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 for this trade now. Funding pays +$1 a day on $10k at the current rate, and Deribit is 0.023% dearer against Backpack than usual: you sell high and buy low: +$2 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	0.008700	−0.0017	get 0.0002% / 1h	24m 59s	$310K	$315K	10x
Short	Deribit PENGU_USDC-PERPETUAL	0.008702	0	get 0.0000% / 1h	24m 59s	$19K	$9K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Backpack. 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 BackpackbpFee DeribitbpOrdersPrice spread, now +0.023%Rate

Funding earned: $3.54
Price spread: +0.023% → 0.000%: $2.3
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$11.16
Costs to cover: 0.170%
Break-even: 29.0 days

Slippage unknown: Backpack: live order book, 63 min ago; Deribit: 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, 63 min ago	0.57 bp	14.0 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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	−0.0550%	1h	0.008702	+0.028%	$386K	$2.1M	50x	as long as short
Gate PENGU_USDT	−0.0314%	4h	0.008696	−0.046%	$3.4M	$15.4M	75x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.172%	$3K	$81K	5.5x	as long as short
Bybit PENGUUSDT	−0.0083%	4h	0.008694	−0.069%	$22.5M	$35.9M	75x	as long as short
Backpack PENGU_USDC_PERPlong	−0.0017%	1h	0.008700	long leg	$310K	$315K	10x
dYdX PENGU-USD	0.0000%	1h	0.008695	−0.063%	$11K	$4K	5x	as long as short
Deribit PENGU_USDC-PERPETUALshort	0.0000%	1h	0.008702	+0.023%	$19K	$9K	10x
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008699	−0.008%	$33K	—	150x	as long as short
01 Exchange PENGUUSD	+0.0016%	1h	0.008703	+0.034%	$199	$59	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008700	0.000%	$296K	$722K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008708	+0.092%	$8.7M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008702	+0.024%	$172K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008695	−0.057%	$146K	$236K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008700	+0.002%	$36.0M	$151.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008702	+0.023%	$7.7M	$46.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008700	0.000%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008700	0.000%	$12.9M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008700	0.000%	$4.7M	$8.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008703	+0.034%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008692	−0.092%	—	$2.3M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008674	−0.297%	$794K	$714K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008670	−0.345%	$454K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008672	−0.322%	$79K	$253K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008700	−0.006%	$675K	$758K	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008701	+0.011%	$21K	$184K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008910	+2.414%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008699	−0.011%	$987	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008712	+0.138%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008697	−0.037%	$178K	$681K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008697	−0.034%	$201K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008697	−0.029%	$294	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008690	−0.115%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0502% / S −0.0703%	1h	0.008699	−0.011%	$112K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008785	+0.977%	$92K	$96K	50x	as long as short