PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0060%/8h= +6.6% APRnext payment +$0.30 per $10,000 · paid last 24h −0.001%

Price spread now: Orderly against Bybit−0.173%7-day average +0.033% · you buy dearer than you sell

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

Long on Bybit Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.097%+$10 on $10k

Price spread, last 3 days (all we have)+0.224%+$22 · spread now −0.173%, 7d avg +0.033%

Together, before fees+0.321%+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. Orderly is 0.206% cheaper against Bybit than usual: you would sell low and buy high (spread −0.173% now, against its 7-day average of +0.033%). If the spread goes back, that is −$21 on $10k: about 11 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PENGUUSDT	0.008678	0.0040	pay 0.0020% / 4h	2h 10m	$22.5M	$36.0M	75x
Short	Orderly PERP_PENGU_USDC	0.008663	0.0100	get 0.0050% / 4h	2h 10m	$23K	$186K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Bybit. 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 BybitbpFee OrderlybpOrdersPrice spread, now −0.173%Rate

Funding earned: $12.62
Price spread: −0.173% → +0.033%: −$20.62
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$25
Costs to cover: 0.170%
Break-even: 20.9 days

Slippage unknown: Bybit: live order book, 8 min ago; Orderly: 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 Bybit live order book, 8 min ago	0.57 bp	13.9 bp −$14	29.8 bp −$298	141.5 bp −$14.2K	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	−0.0551%	1h	0.008687	+0.101%	$384K	$2.1M	50x	as long as short
Gate PENGU_USDT	−0.0272%	4h	0.008681	+0.035%	$3.4M	$15.4M	75x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.426%	$3K	$81K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0096%	1h	0.008663	−0.173%	$19K	$9K	10x	as long as short
Backpack PENGU_USDC_PERP	−0.0046%	1h	0.008679	+0.012%	$310K	$314K	10x	as long as short
01 Exchange PENGUUSD	0.0000%	1h	0.008658	−0.230%	$198	$59	5x	as long as short
dYdX PENGU-USD	+0.0007%	1h	0.008657	−0.247%	$11K	$4K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008663	−0.178%	$33K	—	150x	as long as short
Bybit PENGUUSDTlong	+0.0040%	4h	0.008678	long leg	$22.5M	$36.0M	75x
Lighter PENGU	+0.0096%	1h	0.008678	0.000%	$297K	$723K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PENGU-PERP	+0.0100%	1h	0.008652	−0.300%	$671K	$757K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008684	+0.069%	$8.6M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008682	+0.046%	$172K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008652	−0.300%	$146K	$236K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008686	+0.088%	$35.9M	$151.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008686	+0.092%	$7.7M	$46.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008650	−0.323%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008685	+0.081%	$12.9M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008684	+0.069%	$4.7M	$8.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008689	+0.127%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008683	+0.058%	—	$3.9M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008675	−0.033%	$797K	$715K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008656	−0.251%	$453K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008681	+0.035%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDCshort	+0.0100%	4h	0.008663	−0.173%	$23K	$186K	20x
SunX PENGU-USDT	+0.0100%	4h	0.008871	+2.224%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008677	−0.012%	$994	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008676	−0.023%	$91K	$250K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008681	+0.040%	$178K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008675	−0.035%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008659	−0.222%	$292	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008670	−0.092%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0501% / S −0.0703%	1h	0.008663	−0.173%	$112K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008699	+0.242%	$93K	$97K	50x	as long as short