Funding you earn now, next payment 04:00 UTC−0.2671%/8h= −292.4% APRnext payment −$3.34 per $10,000 · paid last 24h −0.534%
Price spread now: Injective against Coinbase International−2.083%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−1.610%−$161 on $10k
+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 −$80 a day on $10k at the current rate, and Injective is 2.083% cheaper against Coinbase International than usual: you would sell low and buy high (−$208 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.610% in total (about -84.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.34 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International PENGU-PERP-INTX | 0.008976 | 0.2704 | pay 0.0338% / 1h | 50m 34s | $96K | $61K | 50x |
| Short | Injective PENGU/USDC PERP | 0.008789 | 0.0033 | get 0.0004% / 1h | 50m 34s | $3K | $117K | 5.5x |
Coinbase International PENGU-PERP-INTX
Injective PENGU/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$560.84
- Price spread: −2.083% → 0.000%
- −$208.33
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$779.19
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage unknown: Coinbase International: no order-book sample; Injective: 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 Injective no order-book sample | — | — | — | — | — |
Coinbase International and Injective: 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit PENGU_USDC-PERPETUAL | 0.0000% | 1h | 0.009072 | +1.070% | $19K | $10K | 10x | as long as short |
| gTrade (Gains Network) PENGU/USD | L +0.0007% / S −0.0003% | 1h | 0.009069 | +1.037% | $33K | — | 150x | as long as short |
| Injective PENGU/USDC PERPshort | +0.0033% | 1h | 0.008789 | −2.083% | $3K | $117K | 5.5x | |
| dYdX PENGU-USD | +0.0036% | 1h | 0.009045 | +0.771% | $12K | $5K | 5x | as long as short |
| 01 Exchange PENGUUSD | +0.0080% | 1h | 0.009036 | +0.668% | $207 | $64 | 5x | as long as short |
| Lighter PENGU | +0.0096% | 1h | 0.009053 | +0.858% | $335K | $736K | 8x | as long as short |
| Hyperliquid PENGU | +0.0100% | 1h | 0.009039 | +0.702% | $8.5M | $14.8M | 5x | as long as short |
| Aster PENGUUSDT | +0.0100% | 4h | 0.009058 | +0.910% | $130K | $600K | 20x | as long as short |
| Pacifica PENGU | +0.0100% | 1h | 0.009044 | +0.758% | $159K | $243K | 5x | as long as short |
| Binance PENGUUSDT | +0.0100% | 4h | 0.009036 | +0.665% | $38.8M | $169.0M | 75x | as long as short |
Deribit PENGU_USDC-PERPETUAL
gTrade (Gains Network) PENGU/USD
dYdX PENGU-USD
01 Exchange PENGUUSD
Lighter PENGU
Hyperliquid PENGU
Aster PENGUUSDT
Pacifica PENGU
Binance PENGUUSDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit PENGUUSDT | +0.0100% | 4h | 0.009028 | +0.579% | $24.0M | $40.4M | 75x | as long as short |
| OKX PENGU-USDT-SWAP | +0.0100% | 4h | 0.009028 | +0.579% | $7.8M | $49.8M | 50x | as long as short |
| Arcus PENGU-USD | +0.0100% | 1h | 0.009040 | +0.713% | $19K | $24K | 5x | as long as short |
| Gate PENGU_USDT | +0.0100% | 4h | 0.009040 | +0.713% | $3.4M | $16.0M | 75x | as long as short |
| MEXC PENGU_USDT | +0.0100% | 4h | 0.009044 | +0.758% | $11.1M | $12.4M | 125x | as long as short |
| KuCoin PENGUUSDTM | +0.0100% | 4h | 0.009043 | +0.746% | $4.9M | $9.3M | 75x | as long as short |
| Bitget PENGUUSDT | +0.0100% | 4h | 0.009035 | +0.657% | $8.8M | $12.8M | 75x | as long as short |
| BingX PENGU-USDT | +0.0100% | 4h | 0.009039 | +0.702% | — | $3.5M | — | as long as short |
| Backpack PENGU_USDC_PERP | +0.0100% | 1h | 0.009059 | +0.925% | $303K | $329K | 10x | as long as short |
| Variational Omni PENGU | +0.0100% | 4h | 0.009060 | +0.935% | $945K | $1.0M | — | as long as short |
| GRVT PENGU_USDT_Perp | +0.0100% | 4h | 0.009065 | +0.992% | $476K | $2.1M | 10x | as long as short |
| Nado PENGU-PERP | +0.0100% | 1h | 0.009031 | +0.618% | $607K | $1.0M | 5x | as long as short |
| Orderly PERP_PENGU_USDC | +0.0100% | 4h | 0.009072 | +1.070% | $24K | $84K | 20x | as long as short |
| SunX PENGU-USDT | +0.0100% | 4h | 0.009285 | +3.443% | $3K | $2.1M | 10x | as long as short |
| SoDEX PENGU-USD | +0.0100% | 1h | 0.009061 | +0.947% | $1K | $5K | 5x | as long as short |
| HTX PENGU-USDT | +0.0100% | 4h | 0.009082 | +1.181% | $94K | $378K | 25x | as long as short |
| Extended PENGU-USD | +0.0104% | 1h | 0.009031 | +0.615% | $187K | $944K | 10x | as long as short |
| Aevo PENGU-PERP | +0.0104% | 1h | 0.009074 | +1.092% | $210K | — | 3x | as long as short |
| Reya PENGURUSDPERP | +0.0239% | 1h | 0.009030 | +0.599% | $305 | — | 10x | as long as short |
| BloFin PENGU-USDT | +0.0340% | 4h | 0.009071 | +1.058% | $1.5M | $4.1M | 75x | as long as short |
| GMX PENGU/USD [WBTC.b-USDC] | L +0.0517% / S −0.0477% | 1h | 0.009066 | +1.003% | $128K | — | 100x | as long as short |
| ApeX Omni PENGUUSDT | +0.0577% | 1h | 0.009083 | +1.192% | $92K | $247K | 50x | as long as short |
| Kraken Futures PF_PENGUUSD | +0.0603% | 1h | 0.009068 | +1.026% | $353K | $2.4M | 50x | as long as short |
| Coinbase International PENGU-PERP-INTXlong | +0.2704% | 1h | 0.008976 | long leg | $96K | $61K | 50x |
Bybit PENGUUSDT
OKX PENGU-USDT-SWAP
Arcus PENGU-USD
Gate PENGU_USDT
MEXC PENGU_USDT
KuCoin PENGUUSDTM
Bitget PENGUUSDT
BingX PENGU-USDT
Backpack PENGU_USDC_PERP
Variational Omni PENGU
GRVT PENGU_USDT_Perp
Nado PENGU-PERP
Orderly PERP_PENGU_USDC
SunX PENGU-USDT
SoDEX PENGU-USD
HTX PENGU-USDT
Extended PENGU-USD
Aevo PENGU-PERP
Reya PENGURUSDPERP
BloFin PENGU-USDT
GMX PENGU/USD [WBTC.b-USDC]
ApeX Omni PENGUUSDT
Kraken Futures PF_PENGUUSD