PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0410%/8h= −44.8% APRnext payment −$0.51 per $10,000 · paid last 24h −0.077%

Price spread now: Hyperliquid against GMX+0.057%7-day average −0.006% · you sell dearer than you buy

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

Long on GMX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.212%−$21 on $10k

Price spread, last 4 days (all we have)+0.044%+$4 · spread now +0.057%, 7d avg −0.006%

Together, before fees−0.168%+ Points / potential airdropHyperliquid: Season 2 · farm board−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hyperliquid is 0.064% dearer against GMX than usual: you sell high and buy low (spread +0.057% now, against its 7-day average of −0.006%): +$6 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX PENGU/USD [WBTC.b-USDC]	0.008705	L +0.0510% / S −0.0582%	pay 0.0064% / 1h	38m 51s	$118K	—	100x
Short	Hyperliquid PENGU	0.008710	0.0100	get 0.0013% / 1h	38m 51s	$8.1M	$14.6M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against GMX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 HyperliquidbpOrdersPrice spread, now +0.057%Rate

Funding earned: −$86.01
Price spread: +0.057% → −0.006%: $6.39
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$100.62
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Hyperliquid: live order book, 4 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 Hyperliquid live order book, 4 min ago	1.14 bp	9.5 bp −$9	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
Deribit PENGU_USDC-PERPETUAL	−0.0324%	1h	0.008700	−0.057%	$18K	$10K	10x	as long as short
01 Exchange PENGUUSD	−0.0032%	1h	0.008706	+0.011%	$199	$64	5x	as long as short
Gate PENGU_USDT	−0.0002%	4h	0.008710	+0.057%	$3.3M	$15.6M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008706	+0.008%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.965%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008707	+0.023%	$309K	$709K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008704	−0.011%	$23K	$165K	20x	as long as short
Hyperliquid PENGUshort	+0.0100%	1h	0.008710	+0.057%	$8.1M	$14.6M	5x
Aster PENGUUSDT	+0.0100%	4h	0.008712	+0.084%	$120K	$577K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008712	+0.080%	$153K	$243K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.008715	+0.110%	$36.4M	$159.7M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008713	+0.092%	$23.2M	$38.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008719	+0.161%	$7.4M	$46.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008710	+0.057%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008710	+0.057%	$11.5M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008706	+0.011%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008710	+0.057%	$8.2M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008707	+0.023%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008704	−0.011%	$298K	$275K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008712	+0.078%	$866K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008753	+0.556%	$457K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008758	+0.609%	$80K	$243K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008705	+0.006%	$584K	$1.0M	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008907	+2.321%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008700	−0.057%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008722	+0.195%	$91K	$348K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008704	−0.010%	$179K	$944K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008695	−0.115%	$201K	—	3x	as long as short
dYdX PENGU-USD	+0.0200%	1h	0.008715	+0.111%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008705	−0.004%	$294	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008706	+0.011%	$1.5M	$3.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]long	L +0.0510% / S −0.0582%	1h	0.008705	long leg	$118K	—	100x
Kraken Futures PF_PENGUUSD	+0.0653%	1h	0.008708	+0.030%	$356K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+3.010%	$95K	$94K	50x	as long as short