PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0210%/8h= −23.0% APRnext payment −$0.26 per $10,000 · paid last 24h +0.096%

Price spread now: Injective against Lighter+0.676%7-day average −0.807% · you sell dearer than you buy

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

Long on Lighter Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.211%+$21 on $10k

Price spread, last 3 days (all we have)−1.568%−$157 · spread now +0.676%, 7d avg −0.807%

Together, before fees−1.356%+ Points / potential airdropLighter: Season 3 · farm board−$136 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 1.483% dearer against Lighter than usual: you sell high and buy low (spread +0.676% now, against its 7-day average of −0.807%): +$148 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 24 days. Mind the row above: over the last 7 days funding on this pair paid +0.211%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PENGU	0.008730	0.0096	pay 0.0012% / 1h	21m 07s	$305K	$741K	8x
Short	Injective PENGU/USDC PERP	0.008789	−0.0114	pay 0.0014% / 1h	21m 07s	$3K	$117K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Lighter. 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 LighterbpFee InjectivebpOrdersPrice spread, now +0.676%Rate

Funding earned: −$44.12
Price spread: +0.676% → −0.807%: $148.3
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $104.16
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter: live order book, 54 min ago; 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 Lighter live order book, 54 min ago	3.97 bp	9.4 bp −$9	74.2 bp −$742	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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 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	−0.0343%	1h	0.008734	+0.041%	$367K	$2.3M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0323%	1h	0.008726	−0.046%	$19K	$9K	10x	as long as short
Gate PENGU_USDT	−0.0300%	4h	0.008724	−0.069%	$3.4M	$15.6M	75x	as long as short
Bybit PENGUUSDT	−0.0299%	4h	0.008722	−0.092%	$22.6M	$36.8M	75x	as long as short
Variational Omni PENGU	−0.0261%	4h	0.008723	−0.076%	$768K	$832K	—	as long as short
01 Exchange PENGUUSD	−0.0248%	1h	0.008731	+0.011%	$200	$59	5x	as long as short
Backpack PENGU_USDC_PERP	−0.0167%	1h	0.008726	−0.046%	$311K	$313K	10x	as long as short
Injective PENGU/USDC PERPshort	−0.0114%	1h	0.008789	+0.676%	$3K	$117K	5.5x
Nado PENGU-PERP	+0.0001%	1h	0.008729	−0.011%	$694K	$776K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008732	+0.023%	$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	+0.0024%	1h	0.008746	+0.187%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perp	+0.0090%	4h	0.008735	+0.059%	$457K	$2.1M	10x	as long as short
Lighter PENGUlong	+0.0096%	1h	0.008730	long leg	$305K	$741K	8x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008727	−0.034%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008729	−0.011%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008733	+0.039%	$188K	$470K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008737	+0.080%	$151K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008727	−0.034%	$36.1M	$154.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008728	−0.023%	$7.5M	$46.9M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008740	+0.115%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008727	−0.034%	$12.3M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008731	+0.011%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008730	0.000%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008719	−0.126%	—	$2.3M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008731	+0.011%	$79K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008943	+2.440%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008723	−0.080%	$998	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008751	+0.241%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008721	−0.099%	$180K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008725	−0.057%	$202K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008729	−0.017%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008728	−0.023%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0496% / S −0.0683%	1h	0.008732	+0.023%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008768	+0.435%	$93K	$103K	50x	as long as short