PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0442%/8h= +48.4% APRnext payment +$0.55 per $10,000 · paid last 24h +0.009%

Price spread now: Extended against Kraken Futures−0.223%7-day average −0.141% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$530.531% of the position

Long on Kraken Futures Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.071%−$7 on $10k

Price spread, last 3 days (all we have)+0.049%+$5 · spread now −0.223%, 7d avg −0.141%

Together, before fees−0.022%+ Points / potential airdropExtended: Active · farm board−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.083% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.223% now, against its 7-day average of −0.141%). If the spread goes back, that is −$8 on $10k: about 15 hours of funding at the current rate (+$13 a day). Mind the row above: over the last 7 days funding on this pair cost −0.071%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.071% in total (about -3.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.55 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	Kraken Futures PF_PENGUUSD	0.008851	−0.0338	get 0.0042% / 1h	45m 56s	$372K	$2.3M	50x
Short	Extended PENGU-USD	0.008831	0.0104	get 0.0013% / 1h	45m 56s	$182K	$622K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Kraken Futures. 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 Kraken FuturesbpFee ExtendedbpOrdersPrice spread, now −0.223%Rate

Funding earned: $92.87
Price spread: −0.223% → −0.141%: −$8.26
Slippage, 4 orders: −$38.1
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $31.5
Costs to cover: 0.531%
Break-even: 4.6 days

Slippage from Kraken Futures: live order book, 3 min ago; Extended: live order book, 32 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 Kraken Futures live order book, 3 min ago	2.27 bp	14.3 bp −$14	42.5 bp −$425	doesn't fit	doesn't fit
Sell Extended live order book, 32 min ago	1.71 bp	10.9 bp −$11	81.3 bp −$813	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_PENGUUSDlong	−0.0338%	1h	0.008851	long leg	$372K	$2.3M	50x
Gate PENGU_USDT	−0.0236%	4h	0.008833	−0.205%	$3.4M	$15.6M	75x	as long as short
Bybit PENGUUSDT	−0.0211%	4h	0.008831	−0.228%	$23.0M	$36.6M	75x	as long as short
Variational Omni PENGU	−0.0156%	4h	0.008825	−0.291%	$804K	$802K	—	as long as short
01 Exchange PENGUUSD	−0.0136%	1h	0.008836	−0.171%	$202	$59	5x	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	−0.702%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0089%	1h	0.008846	−0.058%	$19K	$9K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008847	−0.043%	$34K	—	150x	as long as short
dYdX PENGU-USD	+0.0028%	1h	0.008826	−0.286%	$12K	$4K	5x	as long as short
Nado PENGU-PERP	+0.0046%	1h	0.008836	−0.171%	$691K	$762K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack PENGU_USDC_PERP	+0.0070%	1h	0.008840	−0.126%	$315K	$308K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008846	−0.058%	$309K	$740K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008846	−0.058%	$24K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008840	−0.126%	$8.5M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008839	−0.132%	$191K	$467K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008828	−0.262%	$152K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008836	−0.171%	$36.7M	$154.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008835	−0.183%	$7.6M	$47.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008830	−0.239%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008834	−0.194%	$12.6M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008839	−0.138%	$4.8M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008840	−0.126%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008824	−0.307%	—	$2.3M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008815	−0.408%	$462K	$2.2M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008833	−0.205%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009047	+2.212%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008842	−0.104%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008837	−0.160%	$92K	$250K	25x	as long as short
Extended PENGU-USDshort	+0.0104%	1h	0.008831	−0.223%	$182K	$622K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008845	−0.070%	$204K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008841	−0.121%	$299	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008813	−0.431%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0512% / S −0.0711%	1h	0.008847	−0.047%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008850	−0.013%	$94K	$104K	50x	as long as short