PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1012%/8h= −110.8% APRpaid last 24h −0.513%

Price spread now: BloFin against Coinbase International−1.506%358s7-day average −0.760% · you buy dearer than you sell

Net, funding: paid 7d − costs−$192as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$660.662% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−1.255%−$125 on $10k

Price spread, last 3 days (all we have)+0.799%+$80 · spread now −1.506%, 7d avg −0.760%

Together, before fees−0.456%−$46 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$30 a day on $10k at the current rate, and BloFin is 0.746% cheaper against Coinbase International than usual: you would sell low and buy high (−$75 if the spread goes back to its 7-day average of −0.760%). Swap the legs. The two prices were read 358 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	Coinbase International PENGU-PERP-INTX	0.008967	0.1352	pay 0.0169% / 1h	42m 51s	$95K	$104K	50x
Short	BloFin PENGU-USDT	0.008832	0.0340	get 0.0170% / 4h	2h 42m	$1.5M	$3.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −1.506%Rate

Funding earned: −$212.52
Price spread: −1.506% → −0.760%: −$74.57
Slippage, 4 orders: −$44.15
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$353.24
Costs to cover: 0.662%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 56 min ago; BloFin: live order book, 10 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, 56 min ago	17.61 bp	22.6 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 10 min ago	3.97 bp	10.6 bp −$11	19.2 bp −$192	63.8 bp −$6,385	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
Nado PENGU-PERP	−0.0102%	1h	0.008806	−1.798%	$562K	$960K	5x	as long as short
Variational Omni PENGU	−0.0050%	4h	0.008788	−1.995%	$876K	$1.0M	—	as long as short
ApeX Omni PENGUUSDT	−0.0034%	1h	0.008823	−1.606%	$80K	$248K	50x	as long as short
Gate PENGU_USDT	−0.0024%	4h	0.008757	−2.342%	$3.4M	$15.4M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008801	−1.851%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008807	−1.780%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.985%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0056%	1h	0.008806	−1.795%	$201	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008807	−1.784%	$311K	$706K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0097%	4h	0.008799	−1.874%	$19K	$173K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008786	−2.019%	$8.2M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008791	−1.967%	$168K	$442K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008806	−1.795%	$152K	$242K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008764	−2.264%	$37.2M	$156.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008757	−2.342%	$22.8M	$38.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008761	−2.297%	$7.5M	$47.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008800	−1.862%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008764	−2.264%	$12.2M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008761	−2.297%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008760	−2.308%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008760	−2.308%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008790	−1.974%	$301K	$323K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008776	−2.128%	$469K	$2.1M	10x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009015	+0.535%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008802	−1.840%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008818	−1.662%	$89K	$327K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008756	−2.358%	$181K	$940K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008800	−1.862%	$203K	—	3x	as long as short
dYdX PENGU-USD	+0.0154%	1h	0.008807	−1.787%	$12K	$4K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0210%	1h	0.008811	−1.742%	$364K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008801	−1.853%	$297	—	10x	as long as short
BloFin PENGU-USDTshort	+0.0340%	4h	0.008832	−1.506%	$1.5M	$3.2M	75x
GMX PENGU/USD [WBTC.b-USDC]	L +0.0512% / S −0.0708%	1h	0.008807	−1.784%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTXlong	+0.1352%	1h	0.008967	long leg	$95K	$104K	50x