PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.2400%/8h= −262.8% APRnext payment −$3.00 per $10,000 · paid last 24h −0.566%

Price spread now: Aevo against Coinbase International−1.766%7-day average −0.777% · you buy dearer than you sell

Net, funding: paid 7d − costs−$288as in the Funding arb table

Net, price: spread back to 7d avg − costs−$219as in the Price arb table

costs, in and out, $10k−$1201.196% of the position

Long on Coinbase International Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days−1.683%−$168 on $10k

Price spread, last 3 days (all we have)+1.500%+$150 · spread now −1.766%, 7d avg −0.777%

Together, before fees−0.183%−$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$72 a day on $10k at the current rate, and Aevo is 0.990% cheaper against Coinbase International than usual: you would sell low and buy high (−$99 if the spread goes back to its 7-day average of −0.777%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International PENGU-PERP-INTX	0.008945	0.2504	pay 0.0313% / 1h	26m 32s	$95K	$105K	50x
Short	Aevo PENGU-PERP	0.008787	0.0104	get 0.0013% / 1h	26m 32s	$203K	$17K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Coinbase International. 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 Coinbase InternationalbpFee AevobpOrdersPrice spread, now −1.766%Rate

Funding earned: −$504
Price spread: −1.766% → −0.777%: −$98.98
Slippage, 4 orders: −$93.65
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$722.63
Costs to cover: 1.196%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 22 min ago; Aevo: live order book, 57 min ago.

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 Coinbase International live order book, 22 min ago	19.92 bp	24.9 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell Aevo live order book, 57 min ago	11.49 bp	30.9 bp −$31	doesn't fit	doesn't fit	doesn't fit

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	−0.0606%	1h	0.008799	−1.628%	$371K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0314%	4h	0.008766	−2.001%	$3.4M	$15.6M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0205%	1h	0.008788	−1.755%	$19K	$9K	10x	as long as short
Bybit PENGUUSDT	−0.0137%	4h	0.008772	−1.934%	$22.8M	$36.4M	75x	as long as short
01 Exchange PENGUUSD	−0.0080%	1h	0.008775	−1.901%	$201	$59	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008784	−1.804%	$33K	—	150x	as long as short
Variational Omni PENGU	+0.0017%	4h	0.008778	−1.862%	$801K	$802K	—	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008715	−2.571%	$3K	$81K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008772	−1.934%	$308K	$736K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008779	−1.856%	$8.7M	$15.0M	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDT	+0.0100%	4h	0.008773	−1.925%	$189K	$466K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008772	−1.934%	$150K	$238K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008778	−1.867%	$36.6M	$152.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008767	−1.990%	$7.7M	$47.0M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008770	−1.956%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008771	−1.945%	$12.7M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008775	−1.901%	$4.8M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008769	−1.968%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008758	−2.091%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008786	−1.778%	$313K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008803	−1.588%	$460K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008808	−1.532%	$80K	$253K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008771	−1.945%	$683K	$759K	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008789	−1.744%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008995	+0.559%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008786	−1.778%	$999	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008799	−1.632%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008767	−1.985%	$181K	$682K	10x	as long as short
Aevo PENGU-PERPshort	+0.0104%	1h	0.008787	−1.766%	$203K	$17K	3x
dYdX PENGU-USD	+0.0140%	1h	0.008781	−1.831%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008775	−1.906%	$296	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008791	−1.722%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0711%	1h	0.008784	−1.800%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTXlong	+0.2504%	1h	0.008945	long leg	$95K	$105K	50x