PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0150%/8h= −16.4% APRnext payment −$0.19 per $10,000 · paid last 24h +0.132%

Price spread now: Injective against Deribit−4.809%63s7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Injective

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 −$4 a day on $10k at the current rate, and Injective is 4.809% cheaper against Deribit than usual: you would sell low and buy high (−$481 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 63 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	Deribit PENGU_USDC-PERPETUAL	0.009233	0.0183	pay 0.0023% / 1h	59m 59s	$1K	$28K	10x
Short	Injective PENGU/USDC PERP	0.008789	0.0033	get 0.0004% / 1h	59m 59s	$3K	$117K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Deribit. 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 DeribitbpFee InjectivebpOrdersPrice spread, now −4.809%Rate

Funding earned: −$31.43
Price spread: −4.809% → 0.000%: −$480.88
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$519.33
Costs to cover: 0.070%
Break-even: never at this rate

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

Deribit and 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 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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009228	−0.050%	$34K	—	150x	as long as short
Injective PENGU/USDC PERPshort	+0.0033%	1h	0.008789	−4.809%	$3K	$117K	5.5x
Gate PENGU_USDT	+0.0048%	4h	0.009224	−0.097%	$3.8M	$18.4M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.009238	+0.054%	$330K	$772K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009236	+0.032%	$654K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009233	0.000%	$9.6M	$16.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009230	−0.031%	$146K	$789K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009242	+0.097%	$141K	$235K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009226	−0.079%	$40.9M	$196.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009216	−0.184%	$25.0M	$47.2M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009214	−0.206%	$8.4M	$58.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009240	+0.076%	$19K	$26K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009233	0.000%	$12.4M	$13.2M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009229	−0.043%	$5.2M	$10.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009231	−0.022%	$9.0M	$15.2M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009225	−0.087%	—	$3.7M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009223	−0.108%	$305K	$371K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009219	−0.154%	$953K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009180	−0.575%	$480K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009178	−0.596%	$81K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009234	+0.011%	$24K	$356K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009456	+2.415%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009230	−0.032%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009256	+0.249%	$97K	$414K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009226	−0.071%	$189K	$741K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009224	−0.097%	$213K	—	3x	as long as short
Deribit PENGU_USDC-PERPETUALlong	+0.0183%	1h	0.009233	long leg	$1K	$28K	10x
Reya PENGURUSDPERP	+0.0241%	1h	0.009235	+0.024%	$312	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009238	+0.054%	$1.7M	$5.4M	75x	as long as short
01 Exchange PENGUUSD	+0.0352%	1h	0.009254	+0.227%	$212	$141	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0374%	1h	0.009231	−0.017%	$347K	$2.7M	50x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0434% / S −0.0351%	1h	0.009239	+0.065%	$106K	—	100x	as long as short
dYdX PENGU-USD	+0.1358%	1h	0.009238	+0.050%	$22K	$18K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2088%	1h	0.009424	+2.069%	$81K	$87K	50x	as long as short