PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.2888%/8h= −316.2% APRnext payment −$3.61 per $10,000 · paid last 24h −0.554%

Price spread now: Aevo against Coinbase International−0.471%7-day average −0.777% · you buy dearer than you sell

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

Long on Coinbase International Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days−1.674%−$167 on $10k

Price spread, last 3 days (all we have)+0.205%+$21 · spread now −0.471%, 7d avg −0.777%

Together, before fees−1.469%−$147 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aevo is 0.305% dearer against Coinbase International than usual: you sell high and buy low (spread −0.471% now, against its 7-day average of −0.777%): +$31 on $10k if it goes back. Holding the pair costs −$87 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 7 days (−1.674% in total) that is about 31 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.674% in total (about -87.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.61 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International PENGU-PERP-INTX	0.008699	0.2992	pay 0.0374% / 1h	8m 18s	$93K	$97K	50x
Short	Aevo PENGU-PERP	0.008658	0.0104	get 0.0013% / 1h	8m 18s	$200K	$17K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Coinbase International. 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 Coinbase InternationalbpFee AevobpOrdersPrice spread, now −0.471%Rate

Funding earned: −$606.48
Price spread: −0.471% → −0.777%: $30.52
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$601.96
Costs to cover: 0.260%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; Aevo: live order book, 16 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Aevo live order book, 16 min ago	11.49 bp	30.9 bp −$31	doesn't fit	doesn't fit	doesn't fit

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
Kraken Futures PF_PENGUUSD	−0.0552%	1h	0.008666	−0.374%	$383K	$2.1M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0327%	1h	0.008663	−0.414%	$19K	$9K	10x	as long as short
Gate PENGU_USDT	−0.0284%	4h	0.008660	−0.448%	$3.4M	$15.4M	75x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.184%	$3K	$81K	5.5x	as long as short
Backpack PENGU_USDC_PERP	−0.0047%	1h	0.008665	−0.391%	$309K	$314K	10x	as long as short
Bybit PENGUUSDT	−0.0015%	4h	0.008651	−0.552%	$22.5M	$36.0M	75x	as long as short
01 Exchange PENGUUSD	0.0000%	1h	0.008661	−0.437%	$198	$59	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008665	−0.397%	$33K	—	150x	as long as short
dYdX PENGU-USD	+0.0015%	1h	0.008674	−0.289%	$11K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008658	−0.471%	$297K	$723K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PENGU-PERP	+0.0100%	1h	0.008661	−0.437%	$673K	$757K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008666	−0.379%	$8.6M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008669	−0.345%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008664	−0.402%	$146K	$236K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008658	−0.471%	$35.8M	$151.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008654	−0.517%	$7.7M	$46.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008660	−0.448%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008655	−0.506%	$12.8M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008662	−0.425%	$4.7M	$8.8M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008665	−0.391%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008651	−0.552%	—	$2.3M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008647	−0.600%	$799K	$726K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008679	−0.230%	$454K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008677	−0.253%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008663	−0.414%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008871	+1.977%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008656	−0.494%	$988	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008682	−0.195%	$91K	$250K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008655	−0.503%	$178K	$682K	10x	as long as short
Aevo PENGU-PERPshort	+0.0104%	1h	0.008658	−0.471%	$200K	$17K	3x
Reya PENGURUSDPERP	+0.0237%	1h	0.008658	−0.467%	$292	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008676	−0.264%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0502% / S −0.0703%	1h	0.008664	−0.402%	$112K	—	100x	as long as short
Coinbase International PENGU-PERP-INTXlong	+0.2992%	1h	0.008699	long leg	$93K	$97K	50x