PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0067%/8h= −7.3% APRnext payment −$0.08 per $10,000 · paid last 24h +0.091%

Price spread now: Injective against SoDEX−1.865%62s7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on Injective

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—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 1.865% cheaper against SoDEX than usual: you would sell low and buy high (−$186 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 62 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX PENGU-USD	0.008956	0.0100	pay 0.0013% / 1h	19m 50s	$1K	$5K	5x
Short	Injective PENGU/USDC PERP	0.008789	0.0033	get 0.0004% / 1h	19m 50s	$3K	$117K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against SoDEX. 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 SoDEXbpFee InjectivebpOrdersPrice spread, now −1.865%Rate

Funding earned: −$14
Price spread: −1.865% → 0.000%: −$186.47
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$208.49
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; 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 SoDEX no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

SoDEX and 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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008957	+0.011%	$19K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008950	−0.063%	$33K	—	150x	as long as short
Injective PENGU/USDC PERPshort	+0.0033%	1h	0.008789	−1.865%	$3K	$117K	5.5x
dYdX PENGU-USD	+0.0035%	1h	0.008933	−0.252%	$12K	$5K	5x	as long as short
01 Exchange PENGUUSD	+0.0080%	1h	0.008951	−0.056%	$205	$64	5x	as long as short
Gate PENGU_USDT	+0.0082%	4h	0.008942	−0.156%	$3.4M	$16.5M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008958	+0.022%	$326K	$752K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008943	−0.145%	$600K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008952	−0.045%	$8.5M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008948	−0.086%	$138K	$643K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008938	−0.201%	$136K	$272K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008947	−0.100%	$38.0M	$172.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008937	−0.212%	$23.8M	$41.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008938	−0.201%	$7.8M	$50.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008950	−0.067%	$19K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008949	−0.078%	$10.9M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008947	−0.100%	$4.9M	$9.5M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008951	−0.056%	$8.7M	$13.0M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008944	−0.134%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008947	−0.100%	$299K	$328K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008908	−0.537%	$930K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008910	−0.513%	$474K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008925	−0.346%	$81K	$251K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008956	0.000%	$23K	$109K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009167	+2.356%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USDlong	+0.0100%	1h	0.008956	long leg	$1K	$5K	5x
HTX PENGU-USDT	+0.0100%	4h	0.008966	+0.112%	$93K	$378K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008945	−0.122%	$184K	$943K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008949	−0.078%	$207K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008947	−0.101%	$302	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008911	−0.502%	$1.5M	$4.1M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0503% / S −0.0415%	1h	0.008951	−0.056%	$127K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0611%	1h	0.008962	+0.064%	$328K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.008982	+0.290%	$95K	$63K	50x	as long as short