PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0143%/8h= +15.6% APRnext payment +$0.18 per $10,000 · paid last 24h +0.042%

Price spread now: Reya against Lighter+0.093%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on Reya

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—+ Points / potential airdropLighter: Season 3 · Reya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Reya is 0.093% dearer against Lighter than usual: you sell high and buy low: +$9 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PENGU	0.008741	0.0096	pay 0.0012% / 1h	40m 19s	$311K	$716K	8x
Short	Reya PENGURUSDPERP	0.008749	0.0239	get 0.0030% / 1h	40m 19s	$295	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Lighter. 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 LighterbpFee ReyabpOrdersPrice spread, now +0.093%Rate

Funding earned: $30.01
Price spread: +0.093% → 0.000%: $9.32
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: $33.33
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Lighter: live order book, 14 min ago; Reya: 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, 14 min ago	4.57 bp	13.2 bp −$13	78.5 bp −$785	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008747	+0.069%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008740	−0.007%	$32K	—	150x	as long as short
01 Exchange PENGUUSD	+0.0032%	1h	0.008762	+0.240%	$200	$64	5x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.549%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDT	+0.0034%	4h	0.008746	+0.057%	$3.3M	$15.6M	75x	as long as short
Lighter PENGUlong	+0.0096%	1h	0.008741	long leg	$311K	$716K	8x
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008747	+0.069%	$23K	$125K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008754	+0.149%	$8.1M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008753	+0.141%	$121K	$579K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008750	+0.103%	$154K	$241K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.008743	+0.020%	$36.4M	$161.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008741	0.000%	$23.1M	$39.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008748	+0.080%	$7.3M	$46.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008760	+0.217%	$19K	$23K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008752	+0.126%	$11.0M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008752	+0.126%	$4.8M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008745	+0.046%	$8.2M	$12.3M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008742	+0.011%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008736	−0.057%	$290K	$314K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008724	−0.196%	$866K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008698	−0.492%	$463K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008692	−0.561%	$79K	$242K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008750	+0.103%	$585K	$1.0M	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008958	+2.483%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008741	0.000%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008763	+0.252%	$91K	$372K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008742	+0.017%	$180K	$946K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008738	−0.034%	$202K	—	3x	as long as short
Reya PENGURUSDPERPshort	+0.0239%	1h	0.008749	+0.093%	$295	—	10x
BloFin PENGU-USDT	+0.0340%	4h	0.008732	−0.103%	$1.5M	$3.5M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0366%	1h	0.008746	+0.053%	$341K	$2.4M	50x	as long as short
dYdX PENGU-USD	+0.0393%	1h	0.008745	+0.048%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0496% / S −0.0419%	1h	0.008744	+0.034%	$124K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008732	−0.103%	$93K	$60K	50x	as long as short