PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.2704%/8h= −296.1% APRnext payment −$3.38 per $10,000 · paid last 24h −0.678%

Price spread now: Deribit against Coinbase International−0.555%7-day average — · you buy dearer than you sell

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

Long on Coinbase International 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 against this trade now: funding costs −$81 a day on $10k at the current rate, and Deribit is 0.555% cheaper against Coinbase International than usual: you would sell low and buy high (−$56 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International PENGU-PERP-INTX	0.009007	0.2704	pay 0.0338% / 1h	28m 13s	$95K	$62K	50x
Short	Deribit PENGU_USDC-PERPETUAL	0.008957	0	get 0.0000% / 1h	28m 13s	$19K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Coinbase International. 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 Coinbase InternationalbpFee DeribitbpOrdersPrice spread, now −0.555%Rate

Funding earned: −$567.84
Price spread: −0.555% → 0.000%: −$55.51
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$640.35
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Deribit no order-book sample	—	—	—	—	—

Coinbase International and 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
Gate PENGU_USDT	−0.0020%	4h	0.008945	−0.688%	$3.4M	$16.4M	75x	as long as short
Deribit PENGU_USDC-PERPETUALshort	0.0000%	1h	0.008957	−0.555%	$19K	$10K	10x
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008954	−0.589%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.420%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0038%	1h	0.008957	−0.557%	$12K	$5K	5x	as long as short
01 Exchange PENGUUSD	+0.0080%	1h	0.008945	−0.688%	$205	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008957	−0.555%	$326K	$751K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008941	−0.727%	$600K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008950	−0.633%	$8.5M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008955	−0.574%	$138K	$640K	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	0.008956	−0.566%	$137K	$272K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008952	−0.616%	$38.3M	$171.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008943	−0.711%	$23.8M	$41.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008941	−0.733%	$7.8M	$50.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008960	−0.522%	$19K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008950	−0.633%	$11.0M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008953	−0.600%	$5.0M	$9.4M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008949	−0.644%	$8.7M	$12.9M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008941	−0.733%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008942	−0.722%	$299K	$327K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009000	−0.079%	$939K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009016	+0.102%	$470K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009018	+0.122%	$82K	$251K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008957	−0.555%	$24K	$102K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009172	+1.832%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008961	−0.511%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008972	−0.389%	$93K	$379K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008952	−0.606%	$186K	$939K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008950	−0.633%	$207K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008942	−0.722%	$302	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008960	−0.522%	$1.5M	$4.2M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0503% / S −0.0415%	1h	0.008952	−0.611%	$127K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0610%	1h	0.008965	−0.467%	$351K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTXlong	+0.2704%	1h	0.009007	long leg	$95K	$62K	50x