PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0055%/8h= −6.1% APRnext payment −$0.07 per $10,000 · paid last 24h +0.082%

Price spread now: Reya against Deribit−0.401%7-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 Reya

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Reya is 0.401% cheaper against Deribit than usual: you would sell low and buy high (−$40 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	Deribit PENGU_USDC-PERPETUAL	0.009160	0.0296	pay 0.0037% / 1h	42m 10s	$1K	$29K	10x
Short	Reya PENGURUSDPERP	0.009123	0.0241	get 0.0030% / 1h	42m 10s	$308	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.401%Rate

Funding earned: −$11.64
Price spread: −0.401% → 0.000%: −$40.15
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Reya: 3 bp × 2 orders: −$6
Net: −$64.79
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; Reya: 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 Reya no order-book sample	—	—	—	—	—

Deribit and Reya: 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	0.009150	−0.105%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−4.050%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDT	+0.0062%	4h	0.009144	−0.175%	$3.7M	$17.8M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.009157	−0.033%	$330K	$747K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009126	−0.366%	$649K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009133	−0.295%	$9.3M	$16.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009155	−0.053%	$132K	$751K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009124	−0.393%	$138K	$274K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009154	−0.066%	$40.4M	$196.7M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009145	−0.164%	$24.8M	$46.8M	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	0.009145	−0.164%	$8.3M	$58.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009140	−0.218%	$19K	$26K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009153	−0.076%	$11.6M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009151	−0.098%	$5.1M	$10.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009158	−0.022%	$8.9M	$15.1M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009142	−0.197%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009150	−0.109%	$314K	$388K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009105	−0.600%	$941K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009143	−0.186%	$484K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009145	−0.164%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009154	−0.066%	$24K	$324K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009337	+1.932%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009154	−0.066%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009156	−0.044%	$95K	$414K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009148	−0.129%	$190K	$744K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009148	−0.131%	$211K	—	3x	as long as short
Reya PENGURUSDPERPshort	+0.0241%	1h	0.009123	−0.401%	$308	—	10x
Deribit PENGU_USDC-PERPETUALlong	+0.0296%	1h	0.009160	long leg	$1K	$29K	10x
BloFin PENGU-USDT	+0.0340%	4h	0.009140	−0.218%	$1.6M	$5.3M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0377%	1h	0.009160	−0.002%	$352K	$2.7M	50x	as long as short
01 Exchange PENGUUSD	+0.0392%	1h	0.009132	−0.306%	$209	$41	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0432% / S −0.0351%	1h	0.009153	−0.076%	$104K	—	100x	as long as short
dYdX PENGU-USD	+0.1533%	1h	0.009123	−0.409%	$12K	$6K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2088%	1h	0.009211	+0.557%	$81K	$74K	50x	as long as short