PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1352%/8h= −148.0% APRnext payment −$1.69 per $10,000 · paid last 24h −0.646%

Price spread now: Deribit against Coinbase International−1.639%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 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 −$41 a day on $10k at the current rate, and Deribit is 1.639% cheaper against Coinbase International than usual: you would sell low and buy high (−$164 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

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	22m 17s	$95K	$94K	50x
Short	Deribit PENGU_USDC-PERPETUAL	0.008820	0	get 0.0000% / 1h	22m 17s	$18K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −1.639%Rate

Funding earned: −$283.92
Price spread: −1.639% → 0.000%: −$163.93
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$464.85
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 11 min ago; Deribit: 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 Coinbase International live order book, 11 min ago	84.41 bp	112.0 bp −$112	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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 33 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-PERPETUALshort	0.0000%	1h	0.008820	−1.639%	$18K	$10K	10x
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008821	−1.629%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.985%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDT	+0.0042%	4h	0.008822	−1.617%	$3.4M	$15.6M	75x	as long as short
Variational Omni PENGU	+0.0043%	4h	0.008835	−1.472%	$879K	$1.0M	—	as long as short
01 Exchange PENGUUSD	+0.0088%	1h	0.008826	−1.572%	$202	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008820	−1.639%	$312K	$707K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008816	−1.684%	$19K	$161K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008833	−1.500%	$595K	$988K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008833	−1.494%	$8.3M	$14.9M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDT	+0.0100%	4h	0.008832	−1.509%	$143K	$509K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008832	−1.506%	$155K	$245K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008815	−1.695%	$37.7M	$157.5M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008808	−1.773%	$23.1M	$38.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008813	−1.717%	$7.5M	$47.6M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008830	−1.528%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008831	−1.517%	$12.0M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008827	−1.561%	$4.7M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008822	−1.617%	$8.3M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008811	−1.740%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008814	−1.706%	$302K	$300K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008817	−1.670%	$472K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008824	−1.595%	$80K	$249K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009027	+0.669%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008814	−1.706%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008855	−1.249%	$94K	$337K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008814	−1.710%	$182K	$939K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008813	−1.717%	$204K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0210%	1h	0.008824	−1.596%	$360K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008828	−1.553%	$298	—	10x	as long as short
dYdX PENGU-USD	+0.0294%	1h	0.008822	−1.615%	$12K	$4K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0513% / S −0.0708%	1h	0.008820	−1.639%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTXlong	+0.1352%	1h	0.008967	long leg	$95K	$94K	50x