PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0049%/8h= −5.3% APRnext payment −$0.06 per $10,000 · paid last 24h −0.002%

Price spread now: Backpack against gTrade (Gains Network)−0.073%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 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 −$1 a day on $10k at the current rate, and Backpack is 0.073% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (−$7 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	gTrade (Gains Network) PENGU/USD	0.008656	L +0.0007% / S −0.0003%	pay 0.0001% / 1h	11m 38s	$33K	—	150x
Short	Backpack PENGU_USDC_PERP	0.008650	−0.0042	pay 0.0005% / 1h	11m 38s	$309K	$314K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BackpackbpOrdersPrice spread, now −0.073%Rate

Funding earned: −$10.26
Price spread: −0.073% → 0.000%: −$7.34
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$37.6
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: gTrade (Gains Network): no order-book sample; Backpack: live order book, 12 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Backpack live order book, 12 min ago	0.57 bp	9.8 bp −$10	doesn't fit	doesn't fit	doesn't fit

gTrade (Gains Network): 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
Kraken Futures PF_PENGUUSD	−0.0552%	1h	0.008663	+0.072%	$384K	$2.1M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0443%	1h	0.008654	−0.027%	$19K	$9K	10x	as long as short
Gate PENGU_USDT	−0.0272%	4h	0.008650	−0.073%	$3.4M	$15.4M	75x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.678%	$3K	$81K	5.5x	as long as short
Backpack PENGU_USDC_PERPshort	−0.0042%	1h	0.008650	−0.073%	$309K	$314K	10x
01 Exchange PENGUUSD	0.0000%	1h	0.008658	+0.019%	$198	$59	5x	as long as short
dYdX PENGU-USD	+0.0007%	1h	0.008657	+0.002%	$11K	$4K	5x	as long as short
gTrade (Gains Network) PENGU/USDlong	L +0.0007% / S −0.0003%	1h	0.008656	long leg	$33K	—	150x
Bybit PENGUUSDT	+0.0037%	4h	0.008644	−0.143%	$22.5M	$36.0M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008654	−0.027%	$296K	$723K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PENGU-PERP	+0.0100%	1h	0.008650	−0.073%	$671K	$756K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008657	+0.008%	$8.6M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008655	−0.014%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008652	−0.050%	$146K	$236K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008651	−0.060%	$35.8M	$151.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008650	−0.073%	$7.6M	$46.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008650	−0.073%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008652	−0.050%	$12.7M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008654	−0.027%	$4.7M	$8.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008657	+0.008%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008649	−0.085%	—	$3.9M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008675	+0.217%	$797K	$715K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008682	+0.300%	$454K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008681	+0.285%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008655	−0.016%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008862	+2.376%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008651	−0.062%	$990	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008675	+0.215%	$91K	$250K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008653	−0.037%	$178K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008650	−0.073%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008651	−0.064%	$292	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008663	+0.077%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0501% / S −0.0703%	1h	0.008656	−0.004%	$112K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008728	+0.828%	$94K	$97K	50x	as long as short