PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.2689%/8h= −294.4% APRnext payment −$3.36 per $10,000 · paid last 24h −0.569%

Price spread now: Reya against Coinbase International−1.456%48s7-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 Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$81 a day on $10k at the current rate, and Reya is 1.456% cheaper against Coinbase International than usual: you would sell low and buy high (−$146 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 48 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	0.008950	0.2928	pay 0.0366% / 1h	17m 33s	$96K	$62K	50x
Short	Reya PENGURUSDPERP	0.008820	0.0239	get 0.0030% / 1h	17m 33s	$298	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −1.456%Rate

Funding earned: −$564.68
Price spread: −1.456% → 0.000%: −$145.56
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$726.24
Costs to cover: 0.160%
Break-even: never at this rate

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

Coinbase International and Reya: 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	0.008789	−1.799%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008788	−1.806%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.799%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDT	+0.0082%	4h	0.008816	−1.497%	$3.3M	$15.7M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008819	−1.464%	$314K	$719K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008788	−1.810%	$23K	$110K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008818	−1.475%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008811	−1.548%	$118K	$589K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008815	−1.508%	$155K	$241K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008824	−1.404%	$36.9M	$163.2M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PENGUUSDT	+0.0100%	4h	0.008820	−1.453%	$23.4M	$39.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008822	−1.430%	$7.4M	$47.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008830	−1.341%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008818	−1.475%	$10.8M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008813	−1.531%	$4.9M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008824	−1.408%	$8.3M	$12.3M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008814	−1.520%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008793	−1.754%	$292K	$314K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008803	−1.644%	$914K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008795	−1.727%	$459K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008808	−1.587%	$80K	$242K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008824	−1.408%	$592K	$1.0M	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009001	+0.570%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008790	−1.788%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008796	−1.721%	$92K	$372K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008821	−1.440%	$184K	$941K	10x	as long as short
01 Exchange PENGUUSD	+0.0104%	1h	0.008828	−1.363%	$202	$64	5x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008782	−1.877%	$203K	—	3x	as long as short
Reya PENGURUSDPERPshort	+0.0239%	1h	0.008820	−1.456%	$298	—	10x
BloFin PENGU-USDT	+0.0340%	4h	0.008808	−1.587%	$1.5M	$3.7M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0364%	1h	0.008795	−1.727%	$344K	$2.3M	50x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0498% / S −0.0492%	1h	0.008787	−1.821%	$119K	—	100x	as long as short
dYdX PENGU-USD	+0.0508%	1h	0.008808	−1.582%	$12K	$5K	5x	as long as short
Coinbase International PENGU-PERP-INTXlong	+0.2928%	1h	0.008950	long leg	$96K	$62K	50x