PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0397%/8h= −43.5% APRnext payment −$0.50 per $10,000 · paid last 24h −0.017%

Price spread now: Injective against GMX−0.902%123s7-day average −0.889% · you buy dearer than you sell

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

Long on GMX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.229%−$23 on $10k

Price spread, last 4 days (all we have)+0.158%+$16 · spread now −0.902%, 7d avg −0.889%

Together, before fees−0.070%−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.889%, so right now this pair is about funding alone: −$12 a day on $10k at the current rate. The two prices were read 123 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	GMX PENGU/USD [WBTC.b-USDC]	0.008869	L +0.0430% / S −0.0359%	pay 0.0054% / 1h	8m 24s	$103K	—	100x
Short	Injective PENGU/USDC PERP	0.008789	0.0033	get 0.0004% / 1h	8m 24s	$3K	$117K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against GMX. 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 GMXbpFee InjectivebpOrdersPrice spread, now −0.902%Rate

Funding earned: −$83.35
Price spread: −0.902% → −0.889%: −$1.28
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$96.65
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: 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 GMX no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

GMX 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 exchanges

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
dYdX PENGU-USD	0.0000%	1h	0.008895	+0.289%	$19K	$21K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008887	+0.200%	$33K	—	150x	as long as short
Injective PENGU/USDC PERPshort	+0.0033%	1h	0.008789	−0.902%	$3K	$117K	5.5x
Kraken Futures PF_PENGUUSD	+0.0065%	1h	0.008899	+0.336%	$339K	$2.7M	50x	as long as short
01 Exchange PENGUUSD	+0.0080%	1h	0.008895	+0.293%	$203	$141	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0087%	1h	0.008896	+0.304%	$1K	$27K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008899	+0.338%	$316K	$724K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008888	+0.214%	$617K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008894	+0.282%	$8.5M	$17.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008894	+0.281%	$108K	$830K	20x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008897	+0.316%	$133K	$221K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008895	+0.295%	$38.2M	$197.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008891	+0.248%	$23.9M	$47.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008891	+0.248%	$8.4M	$56.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008890	+0.237%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008888	+0.214%	$3.6M	$18.4M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008889	+0.226%	$12.1M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008890	+0.237%	$5.3M	$10.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008899	+0.338%	$8.5M	$14.0M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008889	+0.226%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008897	+0.316%	$297K	$402K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008859	−0.110%	$878K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008868	−0.011%	$466K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008867	−0.023%	$80K	$247K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008893	+0.271%	$23K	$357K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009110	+2.717%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008894	+0.282%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008906	+0.417%	$92K	$350K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008889	+0.227%	$179K	$746K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008893	+0.271%	$205K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.008892	+0.262%	$300	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008878	+0.101%	$1.6M	$5.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]long	L +0.0430% / S −0.0359%	1h	0.008869	long leg	$103K	—	100x
Coinbase International PENGU-PERP-INTX	+0.2136%	1h	0.008982	+1.274%	$82K	$89K	50x	as long as short