PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1319%/8h= −144.4% APRnext payment −$1.65 per $10,000 · paid last 24h −0.493%

Price spread now: Injective against Coinbase International−1.985%64s7-day average −1.517% · you buy dearer than you sell

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

Long on Coinbase International Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−1.525%−$153 on $10k

Price spread, last 3 days (all we have)+0.213%+$21 · spread now −1.985%, 7d avg −1.517%

Together, before fees−1.312%−$131 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$40 a day on $10k at the current rate, and Injective is 0.468% cheaper against Coinbase International than usual: you would sell low and buy high (−$47 if the spread goes back to its 7-day average of −1.517%). Swap the legs. The two prices were read 64 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	Coinbase International PENGU-PERP-INTX	0.008967	0.1352	pay 0.0169% / 1h	0m 05s	$95K	$94K	50x
Short	Injective PENGU/USDC PERP	0.008789	0.0033	get 0.0004% / 1h	0m 05s	$3K	$117K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −1.985%Rate

Funding earned: −$276.92
Price spread: −1.985% → −1.517%: −$46.84
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$333.78
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 33 min ago; Injective: 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, 33 min ago	84.41 bp	112.0 bp −$112	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 33 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
Deribit PENGU_USDC-PERPETUAL	−0.0091%	1h	0.008789	−1.985%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008791	−1.964%	$32K	—	150x	as long as short
Injective PENGU/USDC PERPshort	+0.0033%	1h	0.008789	−1.985%	$3K	$117K	5.5x
Gate PENGU_USDT	+0.0084%	4h	0.008784	−2.041%	$3.4M	$15.6M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008792	−1.952%	$312K	$709K	8x	as long as short
01 Exchange PENGUUSD	+0.0096%	1h	0.008801	−1.851%	$201	$64	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008789	−1.985%	$19K	$161K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008790	−1.974%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008794	−1.931%	$132K	$520K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008803	−1.829%	$155K	$245K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.008793	−1.941%	$37.4M	$156.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008790	−1.974%	$23.2M	$38.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008795	−1.918%	$7.5M	$46.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008800	−1.862%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008786	−2.019%	$11.9M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008789	−1.985%	$4.7M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008795	−1.918%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008786	−2.019%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008785	−2.030%	$301K	$285K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008789	−1.985%	$874K	$987K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008798	−1.885%	$466K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008808	−1.773%	$80K	$243K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008799	−1.879%	$593K	$987K	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008997	+0.335%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008789	−1.985%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008811	−1.740%	$94K	$337K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008795	−1.919%	$184K	$941K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008782	−2.063%	$203K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0210%	1h	0.008796	−1.906%	$360K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008788	−2.000%	$297	—	10x	as long as short
dYdX PENGU-USD	+0.0322%	1h	0.008806	−1.793%	$12K	$4K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0513% / S −0.0582%	1h	0.008789	−1.985%	$119K	—	100x	as long as short
Coinbase International PENGU-PERP-INTXlong	+0.1352%	1h	0.008967	long leg	$95K	$94K	50x