PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h −0.015%

Price spread now: Backpack against Extended−0.030%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$450.453% of the position

Long on Extended Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 4 days (all we have)+0.080%+$8 · spread now −0.030%, 7d avg +0.024%

Together, before fees+0.008%+ Points / potential airdropExtended: Active · farm board+$1 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.054% cheaper against Extended than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENGU-USD	0.008867	0.0104	pay 0.0013% / 1h	17m 13s	$183K	$876K	10x
Short	Backpack PENGU_USDC_PERP	0.008864	0.0100	get 0.0013% / 1h	17m 13s	$290K	$341K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Extended. 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 ExtendedbpFee BackpackbpOrdersPrice spread, now −0.030%Rate

Funding earned: −$0.84
Price spread: −0.030% → +0.024%: −$5.39
Slippage, 4 orders: −$30.34
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$51.57
Costs to cover: 0.453%
Break-even: never at this rate

Slippage from Extended: live order book, 31 min ago; Backpack: live order book, 31 min ago.

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 Extended live order book, 31 min ago	1.70 bp	10.8 bp −$11	84.3 bp −$843	doesn't fit	doesn't fit
Sell Backpack live order book, 31 min ago	0.57 bp	11.6 bp −$12	doesn't fit	doesn't fit	doesn't fit

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	0.008864	−0.034%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.876%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0088%	1h	0.008870	+0.038%	$14K	$15K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008874	+0.083%	$321K	$750K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008872	+0.060%	$602K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008875	+0.094%	$8.2M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008876	+0.107%	$122K	$671K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008879	+0.139%	$135K	$273K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008870	+0.041%	$37.5M	$177.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008860	−0.075%	$23.5M	$42.1M	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	0.008862	−0.053%	$7.5M	$51.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008880	+0.150%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008865	−0.019%	$3.3M	$16.6M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008867	+0.004%	$10.5M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008867	+0.004%	$4.9M	$9.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008868	+0.015%	$8.5M	$13.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008866	−0.008%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERPshort	+0.0100%	1h	0.008864	−0.030%	$290K	$341K	10x
Variational Omni PENGU	+0.0100%	4h	0.008816	−0.572%	$920K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008883	+0.181%	$466K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008872	+0.060%	$80K	$250K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008865	−0.019%	$23K	$176K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009079	+2.395%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008870	+0.038%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008877	+0.116%	$92K	$392K	25x	as long as short
Extended PENGU-USDlong	+0.0104%	1h	0.008867	long leg	$183K	$876K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008865	−0.019%	$205K	—	3x	as long as short
dYdX PENGU-USD	+0.0191%	1h	0.008878	+0.132%	$12K	$6K	5x	as long as short
01 Exchange PENGUUSD	+0.0200%	1h	0.008880	+0.150%	$203	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008862	−0.050%	$299	—	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0318%	1h	0.008877	+0.117%	$328K	$2.4M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008878	+0.128%	$1.5M	$4.7M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0503% / S −0.0466%	1h	0.008859	−0.087%	$123K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.008896	+0.331%	$78K	$77K	50x	as long as short