PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0001%/8h= −0.1% APRnext payment −$0.00 per $10,000 · paid last 24h +0.019%

Price spread now: Orderly against Bybit+0.263%50s7-day average +0.038% · you sell dearer than you buy

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

Long on Bybit Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.114%+$11 on $10k

Price spread, last 4 days (all we have)−0.149%−$15 · spread now +0.263%, 7d avg +0.038%

Together, before fees−0.034%−$3 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: Orderly is 0.225% dearer against Bybit than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of +0.038%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PENGUUSDT	0.008738	0.0100	pay 0.0050% / 4h	1h 09m	$23.1M	$39.0M	75x
Short	Orderly PERP_PENGU_USDC	0.008761	0.0099	get 0.0050% / 4h	1h 09m	$23K	$164K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Bybit. 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 BybitbpFee OrderlybpOrdersPrice spread, now +0.263%Rate

Funding earned: −$0.2
Price spread: +0.263% → +0.038%: $22.54
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Orderly: 3 bp × 2 orders: −$6
Net: $5.34
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Bybit: live order book, 4 min ago; Orderly: 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 Bybit live order book, 4 min ago	0.57 bp	9.4 bp −$9	22.7 bp −$227	101.4 bp −$10.1K	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
01 Exchange PENGUUSD	−0.0032%	1h	0.008747	+0.103%	$200	$64	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008761	+0.263%	$18K	$10K	10x	as long as short
Gate PENGU_USDT	+0.0004%	4h	0.008743	+0.057%	$3.3M	$15.7M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008747	+0.100%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.584%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008747	+0.103%	$311K	$712K	8x	as long as short
Orderly PERP_PENGU_USDCshort	+0.0099%	4h	0.008761	+0.263%	$23K	$164K	20x
Nado PENGU-PERP	+0.0100%	1h	0.008741	+0.029%	$586K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008743	+0.057%	$8.1M	$14.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008755	+0.190%	$121K	$579K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008746	+0.092%	$154K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008743	+0.059%	$36.5M	$160.7M	75x	as long as short
Bybit PENGUUSDTlong	+0.0100%	4h	0.008738	long leg	$23.1M	$39.0M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008738	0.000%	$7.3M	$46.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008740	+0.023%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008744	+0.069%	$11.3M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008748	+0.114%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008744	+0.069%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008746	+0.092%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008758	+0.229%	$299K	$293K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008756	+0.204%	$869K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008786	+0.552%	$468K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008758	+0.229%	$80K	$243K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008992	+2.907%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008761	+0.263%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008796	+0.664%	$92K	$352K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008739	+0.008%	$184K	$942K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008752	+0.160%	$202K	—	3x	as long as short
dYdX PENGU-USD	+0.0235%	1h	0.008749	+0.124%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008741	+0.034%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008780	+0.481%	$1.5M	$3.5M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0555% / S −0.0662%	1h	0.008762	+0.275%	$132K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0649%	1h	0.008770	+0.372%	$348K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.621%	$95K	$90K	50x	as long as short