PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0925%/8h= −101.3% APRnext payment −$1.16 per $10,000 · paid last 24h −0.489%

Price spread now: GMX against Coinbase International−0.496%7-day average −0.718% · you buy dearer than you sell

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

Long on Coinbase International Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.942%−$94 on $10k

Price spread, last 3 days (all we have)+0.152%+$15 · spread now −0.496%, 7d avg −0.718%

Together, before fees−0.790%−$79 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GMX is 0.221% dearer against Coinbase International than usual: you sell high and buy low (spread −0.496% now, against its 7-day average of −0.718%): +$22 on $10k if it goes back. Holding the pair costs −$28 a day in funding at the current rate, which eats that in about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International PENGU-PERP-INTX	0.008863	0.1648	pay 0.0206% / 1h	29m 56s	$94K	$103K	50x
Short	GMX PENGU/USD [WBTC.b-USDC]	0.008819	L +0.0517% / S −0.0723%	get 0.0090% / 1h	29m 56s	$116K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.496%Rate

Funding earned: −$194.26
Price spread: −0.496% → −0.718%: $22.12
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$194.14
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Coinbase International: live order book, 8 min ago; GMX: 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 live order book, 8 min ago	17.61 bp	22.6 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.0392%	1h	0.008827	−0.403%	$368K	$2.3M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0317%	1h	0.008816	−0.530%	$18K	$10K	10x	as long as short
01 Exchange PENGUUSD	−0.0224%	1h	0.008809	−0.609%	$202	$59	5x	as long as short
Variational Omni PENGU	−0.0221%	4h	0.008831	−0.360%	$871K	$933K	—	as long as short
Gate PENGU_USDT	−0.0196%	4h	0.008821	−0.474%	$3.4M	$15.6M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008819	−0.497%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.835%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0078%	1h	0.008828	−0.399%	$12K	$4K	5x	as long as short
Nado PENGU-PERP	+0.0084%	1h	0.008820	−0.485%	$699K	$768K	5x	as long as short
GRVT PENGU_USDT_Perp	+0.0092%	4h	0.008826	−0.416%	$468K	$2.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PENGU	+0.0096%	1h	0.008824	−0.440%	$309K	$727K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008817	−0.519%	$23K	$183K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008823	−0.451%	$8.3M	$15.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008823	−0.453%	$189K	$481K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008822	−0.463%	$152K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008822	−0.463%	$36.8M	$154.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008818	−0.508%	$23.2M	$37.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008822	−0.463%	$7.6M	$47.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008820	−0.485%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008818	−0.508%	$13.0M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008821	−0.474%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008826	−0.417%	$8.4M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008819	−0.496%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008820	−0.485%	$306K	$322K	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008810	−0.598%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009022	+1.794%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008817	−0.519%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008837	−0.293%	$91K	$296K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008820	−0.489%	$182K	$973K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008806	−0.643%	$203K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008811	−0.589%	$298	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008833	−0.338%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]short	L +0.0517% / S −0.0723%	1h	0.008819	−0.496%	$116K	—	100x
Coinbase International PENGU-PERP-INTXlong	+0.1648%	1h	0.008863	long leg	$94K	$103K	50x