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: Lighter against Reya+0.113%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 Lighter

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 airdropReya: Active · Lighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 0.113% dearer against Reya than usual: you sell high and buy low (spread +0.113% 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	0.008749	0.0239	pay 0.0030% / 1h	39m 30s	$295	—	10x
Short	Lighter PENGU	0.008759	0.0096	get 0.0012% / 1h	39m 30s	$311K	$716K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.113%Rate

Funding earned: −$30.01
Price spread: +0.113% → 0.000%: $11.26
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$24.75
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Lighter: live order book, 15 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 Lighter live order book, 15 min ago	4.57 bp	9.4 bp −$9	81.1 bp −$811	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 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	−0.025%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008740	−0.100%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.456%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDT	+0.0038%	4h	0.008739	−0.116%	$3.3M	$15.6M	75x	as long as short
01 Exchange PENGUUSD	+0.0040%	1h	0.008743	−0.070%	$200	$64	5x	as long as short
Lighter PENGUshort	+0.0096%	1h	0.008759	+0.113%	$311K	$716K	8x
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008747	−0.025%	$23K	$125K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008753	+0.044%	$8.1M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008755	+0.071%	$121K	$579K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008751	+0.021%	$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	0.008744	−0.059%	$36.5M	$161.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008740	−0.105%	$23.1M	$39.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008740	−0.105%	$7.2M	$46.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008740	−0.105%	$19K	$23K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008748	−0.013%	$10.9M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008751	+0.021%	$4.8M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008744	−0.059%	$8.2M	$12.3M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008741	−0.093%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008740	−0.105%	$290K	$314K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008724	−0.289%	$866K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008741	−0.097%	$455K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008734	−0.173%	$80K	$242K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008750	+0.010%	$585K	$1.0M	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008958	+2.387%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008741	−0.093%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008763	+0.158%	$91K	$372K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008737	−0.144%	$180K	$946K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008738	−0.127%	$202K	—	3x	as long as short
Reya PENGURUSDPERPlong	+0.0239%	1h	0.008749	long leg	$295	—	10x
BloFin PENGU-USDT	+0.0340%	4h	0.008732	−0.196%	$1.5M	$3.5M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0366%	1h	0.008746	−0.040%	$341K	$2.4M	50x	as long as short
dYdX PENGU-USD	+0.0404%	1h	0.008752	+0.029%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0496% / S −0.0419%	1h	0.008744	−0.059%	$124K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008732	−0.196%	$93K	$60K	50x	as long as short