PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1552%/8h= −169.9% APRnext payment −$1.94 per $10,000 · paid last 24h −0.590%

Price spread now: Lighter against Coinbase International−0.451%7-day average −0.734% · you buy dearer than you sell

Net, funding: paid 7d − costs−$237as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$640.640% of the position

Long on Coinbase International Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−1.726%−$173 on $10k

Price spread, last 3 days (all we have)+0.107%+$11 · spread now −0.451%, 7d avg −0.734%

Together, before fees−1.619%+ Points / potential airdropLighter: Season 3 · farm board−$162 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.282% dearer against Coinbase International than usual: you sell high and buy low (spread −0.451% now, against its 7-day average of −0.734%): +$28 on $10k if it goes back. Holding the pair costs −$47 a day in funding at the current rate, which eats that in about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International PENGU-PERP-INTX	0.008863	0.1648	pay 0.0206% / 1h	34m 05s	$94K	$103K	50x
Short	Lighter PENGU	0.008823	0.0096	get 0.0012% / 1h	34m 05s	$309K	$727K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.451%Rate

Funding earned: −$325.92
Price spread: −0.451% → −0.734%: $28.23
Slippage, 4 orders: −$54.01
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$361.7
Costs to cover: 0.640%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; Lighter: live order book, 36 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, 4 min ago	17.61 bp	22.6 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 36 min ago	3.44 bp	11.3 bp −$11	75.2 bp −$752	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	−0.0392%	1h	0.008828	−0.395%	$368K	$2.3M	50x	as long as short
Variational Omni PENGU	−0.0249%	4h	0.008840	−0.258%	$874K	$931K	—	as long as short
01 Exchange PENGUUSD	−0.0232%	1h	0.008823	−0.451%	$202	$59	5x	as long as short
Gate PENGU_USDT	−0.0224%	4h	0.008817	−0.519%	$3.4M	$15.6M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0090%	1h	0.008821	−0.474%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008827	−0.406%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.835%	$3K	$117K	5.5x	as long as short
GRVT PENGU_USDT_Perp	+0.0044%	4h	0.008794	−0.775%	$466K	$2.1M	10x	as long as short
Nado PENGU-PERP	+0.0079%	1h	0.008826	−0.417%	$699K	$769K	5x	as long as short
dYdX PENGU-USD	+0.0085%	1h	0.008827	−0.409%	$12K	$4K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PENGUshort	+0.0096%	1h	0.008823	−0.451%	$309K	$727K	8x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008825	−0.429%	$24K	$183K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008810	−0.598%	$8.3M	$15.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008826	−0.421%	$189K	$481K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008826	−0.417%	$152K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008809	−0.609%	$36.8M	$155.1M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008805	−0.654%	$23.2M	$37.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008818	−0.508%	$7.6M	$47.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008820	−0.485%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008817	−0.519%	$13.0M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008825	−0.429%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008819	−0.496%	$8.4M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008818	−0.508%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008814	−0.553%	$306K	$320K	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008827	−0.406%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009032	+1.907%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008817	−0.519%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008842	−0.237%	$91K	$295K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008815	−0.545%	$182K	$930K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008813	−0.564%	$204K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008819	−0.498%	$298	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008829	−0.384%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0516% / S −0.0720%	1h	0.008827	−0.406%	$116K	—	100x	as long as short
Coinbase International PENGU-PERP-INTXlong	+0.1648%	1h	0.008863	long leg	$94K	$103K	50x