PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1992%/8h= −218.1% APRnext payment −$2.49 per $10,000 · paid last 24h −0.659%

Price spread now: Lighter against Coinbase International−1.770%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 Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−1.860%−$186 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$60 a day on $10k at the current rate, and Lighter is 1.770% cheaper against Coinbase International than usual: you would sell low and buy high (−$177 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	0.009211	0.2088	pay 0.0261% / 1h	26m 38s	$81K	$73K	50x
Short	Lighter PENGU	0.009048	0.0096	get 0.0012% / 1h	26m 38s	$326K	$763K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −1.770%Rate

Funding earned: −$418.32
Price spread: −1.770% → 0.000%: −$176.96
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$605.28
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; Lighter: live order book, 3 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 Lighter live order book, 3 min ago	4.97 bp	9.4 bp −$9	69.2 bp −$692	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
Gate PENGU_USDT	−0.0398%	4h	0.009028	−1.987%	$3.7M	$18.0M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.009051	−1.737%	$1K	$29K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009061	−1.624%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−4.581%	$3K	$117K	5.5x	as long as short
Lighter PENGUshort	+0.0096%	1h	0.009048	−1.770%	$326K	$763K	8x
Nado PENGU-PERP	+0.0100%	1h	0.009046	−1.786%	$643K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009050	−1.748%	$9.3M	$16.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009041	−1.849%	$129K	$769K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009041	−1.846%	$137K	$275K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009043	−1.824%	$40.2M	$198.2M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PENGUUSDT	+0.0100%	4h	0.009030	−1.965%	$24.3M	$47.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009035	−1.911%	$8.1M	$57.9M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009040	−1.856%	$18K	$26K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009042	−1.835%	$11.5M	$13.0M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009046	−1.791%	$5.0M	$10.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009035	−1.911%	$8.8M	$15.2M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009032	−1.943%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009047	−1.780%	$314K	$387K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009017	−2.106%	$933K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009043	−1.825%	$478K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009056	−1.683%	$79K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009051	−1.737%	$23K	$330K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009266	+0.597%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009051	−1.737%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009069	−1.542%	$95K	$416K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009030	−1.964%	$189K	$744K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009048	−1.770%	$209K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009044	−1.808%	$305	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009061	−1.628%	$1.6M	$5.3M	75x	as long as short
01 Exchange PENGUUSD	+0.0352%	1h	0.009044	−1.813%	$207	$41	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0381%	1h	0.009056	−1.688%	$336K	$2.7M	50x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0431% / S −0.0351%	1h	0.009050	−1.748%	$103K	—	100x	as long as short
dYdX PENGU-USD	+0.2020%	1h	0.009053	−1.717%	$21K	$18K	5x	as long as short
Coinbase International PENGU-PERP-INTXlong	+0.2088%	1h	0.009211	long leg	$81K	$73K	50x