PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.2584%/8h= +282.9% APRnext payment +$3.23 per $10,000 · paid last 24h +0.581%

Price spread now: Coinbase International against Extended+0.043%7-day average +0.832% · you sell dearer than you buy

Net, funding: paid 7d − costs+$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$148as in the Price arb table

costs, in and out, $10k−$690.693% of the position

Long on Extended Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+1.722%+$172 on $10k

Price spread, last 3 days (all we have)+0.372%+$37 · spread now +0.043%, 7d avg +0.832%

Together, before fees+2.094%+ Points / potential airdropExtended: Active · farm board+$209 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.788% cheaper against Extended than usual: you would sell low and buy high (spread +0.043% now, against its 7-day average of +0.832%). If the spread goes back, that is −$79 on $10k: about 24 hours of funding at the current rate (+$78 a day). At the pace of the last 7 days (+1.722% in total) that is about 3.2 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.722% in total (about 89.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.23 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENGU-USD	0.008720	0.0104	pay 0.0013% / 1h	24m 37s	$180K	$622K	10x
Short	Coinbase International PENGU-PERP-INTX	0.008724	0.2688	get 0.0336% / 1h	24m 37s	$93K	$103K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Extended. 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 ExtendedbpFee Coinbase InternationalbpOrdersPrice spread, now +0.043%Rate

Funding earned: $542.64
Price spread: +0.043% → +0.832%: −$78.84
Slippage, 4 orders: −$54.3
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $394.51
Costs to cover: 0.693%
Break-even: 1.9 days

Slippage from Extended: live order book, 53 min ago; Coinbase International: live order book, 19 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, 53 min ago	1.71 bp	10.9 bp −$11	64.6 bp −$646	doesn't fit	doesn't fit
Sell Coinbase International live order book, 19 min ago	18.74 bp	23.7 bp −$24	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
Kraken Futures PF_PENGUUSD	−0.0342%	1h	0.008743	+0.258%	$368K	$2.3M	50x	as long as short
Gate PENGU_USDT	−0.0286%	4h	0.008718	−0.025%	$3.4M	$15.6M	75x	as long as short
Bybit PENGUUSDT	−0.0281%	4h	0.008716	−0.048%	$22.7M	$36.7M	75x	as long as short
01 Exchange PENGUUSD	−0.0240%	1h	0.008721	+0.009%	$200	$59	5x	as long as short
Variational Omni PENGU	−0.0238%	4h	0.008725	+0.061%	$797K	$802K	—	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0208%	1h	0.008735	+0.170%	$19K	$9K	10x	as long as short
Backpack PENGU_USDC_PERP	−0.0165%	1h	0.008731	+0.124%	$311K	$313K	10x	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	+0.789%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	0.0000%	1h	0.008721	+0.003%	$692K	$775K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008731	+0.118%	$33K	—	150x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENGU-USD	+0.0026%	1h	0.008733	+0.152%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perp	+0.0094%	4h	0.008747	+0.305%	$458K	$2.1M	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008735	+0.170%	$306K	$741K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008732	+0.135%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008736	+0.181%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008741	+0.234%	$188K	$469K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008727	+0.078%	$151K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008723	+0.032%	$36.2M	$154.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008724	+0.043%	$7.5M	$46.8M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008720	−0.002%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008733	+0.147%	$12.3M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008724	+0.043%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008726	+0.066%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008721	+0.009%	—	$2.3M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008758	+0.433%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008936	+2.475%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008735	+0.170%	$998	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008742	+0.250%	$91K	$249K	25x	as long as short
Extended PENGU-USDlong	+0.0104%	1h	0.008720	long leg	$180K	$622K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008730	+0.112%	$202K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008725	+0.050%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008733	+0.147%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0496% / S −0.0683%	1h	0.008731	+0.124%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTXshort	+0.2688%	1h	0.008724	+0.043%	$93K	$103K	50x