PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1737%/8h= −190.1% APRnext payment −$2.17 per $10,000 · paid last 24h −0.534%

Price spread now: GMX against Coinbase International−1.963%67s7-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 GMX

What this pair did over the last

the charts below follow

Funding, last 4 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 −$52 a day on $10k at the current rate, and GMX is 1.963% cheaper against Coinbase International than usual: you would sell low and buy high (−$196 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 67 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	0.009424	0.2088	pay 0.0261% / 1h	0m 06s	$81K	$87K	50x
Short	GMX PENGU/USD [WBTC.b-USDC]	0.009239	L +0.0434% / S −0.0351%	get 0.0044% / 1h	0m 06s	$106K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −1.963%Rate

Funding earned: −$364.67
Price spread: −1.963% → 0.000%: −$196.31
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$582.98
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; GMX: 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 no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Coinbase International and GMX: 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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009228	−2.075%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−6.738%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDT	+0.0048%	4h	0.009224	−2.122%	$3.8M	$18.4M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.009238	−1.974%	$330K	$772K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009236	−1.995%	$654K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009233	−2.027%	$9.6M	$16.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009230	−2.057%	$146K	$789K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009242	−1.931%	$141K	$235K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009226	−2.105%	$40.9M	$196.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009216	−2.207%	$25.0M	$47.2M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009214	−2.228%	$8.4M	$58.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009240	−1.952%	$19K	$26K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009233	−2.027%	$12.4M	$13.2M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009229	−2.069%	$5.2M	$10.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009231	−2.048%	$9.0M	$15.2M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009225	−2.112%	—	$3.7M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009223	−2.133%	$305K	$371K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009219	−2.177%	$953K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009180	−2.590%	$480K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009178	−2.610%	$81K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009234	−2.016%	$24K	$356K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009456	+0.340%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009230	−2.059%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009256	−1.783%	$97K	$414K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009226	−2.097%	$189K	$741K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009224	−2.122%	$213K	—	3x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0183%	1h	0.009233	−2.027%	$1K	$28K	10x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009235	−2.003%	$312	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009238	−1.974%	$1.7M	$5.4M	75x	as long as short
01 Exchange PENGUUSD	+0.0352%	1h	0.009254	−1.804%	$212	$141	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0374%	1h	0.009231	−2.043%	$347K	$2.7M	50x	as long as short
GMX PENGU/USD [WBTC.b-USDC]short	L +0.0434% / S −0.0351%	1h	0.009239	−1.963%	$106K	—	100x
dYdX PENGU-USD	+0.1358%	1h	0.009238	−1.978%	$22K	$18K	5x	as long as short
Coinbase International PENGU-PERP-INTXlong	+0.2088%	1h	0.009424	long leg	$81K	$87K	50x