PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0403%/8h= −44.1% APRnext payment −$0.50 per $10,000 · paid last 24h −0.109%

Price spread now: Backpack against GMX+0.056%7-day average −0.056% · you sell dearer than you buy

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

Long on GMX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.315%−$31 on $10k

Price spread, last 4 days (all we have)−0.129%−$13 · spread now +0.056%, 7d avg −0.056%

Together, before fees−0.444%−$44 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.112% dearer against GMX than usual: you sell high and buy low (spread +0.056% now, against its 7-day average of −0.056%): +$11 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX PENGU/USD [WBTC.b-USDC]	0.008859	L +0.0503% / S −0.0466%	pay 0.0063% / 1h	17m 11s	$123K	—	100x
Short	Backpack PENGU_USDC_PERP	0.008864	0.0100	get 0.0013% / 1h	17m 11s	$290K	$341K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against GMX. 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 GMXbpFee BackpackbpOrdersPrice spread, now +0.056%Rate

Funding earned: −$84.64
Price spread: +0.056% → −0.056%: $11.22
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$95.42
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Backpack: live order book, 31 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Backpack live order book, 31 min ago	0.57 bp	11.6 bp −$12	doesn't fit	doesn't fit	doesn't fit

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	0.008864	+0.052%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.790%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0088%	1h	0.008870	+0.124%	$14K	$15K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008874	+0.169%	$321K	$750K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008872	+0.147%	$602K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008875	+0.181%	$8.2M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008876	+0.194%	$122K	$671K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008879	+0.226%	$135K	$273K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008870	+0.128%	$37.5M	$177.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008860	+0.011%	$23.5M	$42.1M	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	0.008862	+0.034%	$7.5M	$51.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008880	+0.237%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008865	+0.068%	$3.3M	$16.6M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008867	+0.090%	$10.5M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008867	+0.090%	$4.9M	$9.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008868	+0.102%	$8.5M	$13.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008866	+0.079%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERPshort	+0.0100%	1h	0.008864	+0.056%	$290K	$341K	10x
Variational Omni PENGU	+0.0100%	4h	0.008816	−0.486%	$920K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008883	+0.268%	$466K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008872	+0.147%	$80K	$250K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008865	+0.068%	$23K	$176K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009079	+2.483%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008870	+0.124%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008877	+0.203%	$92K	$392K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008867	+0.087%	$183K	$876K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008865	+0.068%	$205K	—	3x	as long as short
dYdX PENGU-USD	+0.0191%	1h	0.008878	+0.219%	$12K	$6K	5x	as long as short
01 Exchange PENGUUSD	+0.0200%	1h	0.008880	+0.237%	$203	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008862	+0.037%	$299	—	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0318%	1h	0.008877	+0.204%	$328K	$2.4M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008878	+0.214%	$1.5M	$4.7M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]long	L +0.0503% / S −0.0466%	1h	0.008859	long leg	$123K	—	100x
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.008896	+0.418%	$78K	$77K	50x	as long as short