PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0142%/8h= −15.5% APRnext payment −$0.18 per $10,000 · paid last 24h −0.050%

Price spread now: Backpack against Reya+0.110%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. Backpack is 0.110% dearer against Reya than usual: you sell high and buy low (spread +0.110% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya PENGURUSDPERP	0.008821	0.0242	pay 0.0030% / 1h	49m 24s	$298	—	10x
Short	Backpack PENGU_USDC_PERP	0.008831	0.0100	get 0.0013% / 1h	49m 24s	$295K	$393K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Reya. 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 ReyabpFee BackpackbpOrdersPrice spread, now +0.110%Rate

Funding earned: −$29.73
Price spread: +0.110% → 0.000%: $10.98
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$34.75
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Backpack: live order book, 57 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 Reya no order-book sample	—	—	—	—	—
Sell Backpack live order book, 57 min ago	0.55 bp	9.1 bp −$9	doesn't fit	doesn't fit	doesn't fit

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 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	0.008818	−0.034%	$19K	$21K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008846	+0.280%	$1K	$27K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008797	−0.281%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.366%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008820	−0.015%	$312K	$722K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008829	+0.087%	$8.4M	$17.5M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008832	+0.121%	$110K	$833K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008821	−0.004%	$132K	$221K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008831	+0.110%	$37.8M	$197.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008828	+0.076%	$23.7M	$47.9M	75x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008826	+0.053%	$8.3M	$55.9M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008820	−0.015%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008819	−0.026%	$3.6M	$18.3M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008816	−0.060%	$12.0M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008832	+0.121%	$5.3M	$10.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008829	+0.087%	$8.5M	$14.0M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008799	−0.253%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERPshort	+0.0100%	1h	0.008831	+0.110%	$295K	$393K	10x
Variational Omni PENGU	+0.0100%	4h	0.008834	+0.146%	$875K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008839	+0.200%	$462K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008837	+0.178%	$80K	$247K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008857	+0.410%	$597K	$1.1M	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008844	+0.257%	$23K	$357K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009041	+2.490%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008845	+0.268%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008827	+0.064%	$91K	$372K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008818	−0.043%	$178K	$741K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008846	+0.280%	$204K	—	3x	as long as short
01 Exchange PENGUUSD	+0.0136%	1h	0.008830	+0.098%	$202	$141	5x	as long as short
Reya PENGURUSDPERPlong	+0.0242%	1h	0.008821	long leg	$298	—	10x
Kraken Futures PF_PENGUUSD	+0.0261%	1h	0.008839	+0.200%	$336K	$2.7M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008842	+0.234%	$1.6M	$5.5M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0429% / S −0.0359%	1h	0.008804	−0.196%	$102K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1760%	1h	0.008982	+1.822%	$82K	$88K	50x	as long as short