PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0479%/8h= −52.5% APRnext payment −$0.60 per $10,000 · paid last 24h +0.004%

Price spread now: Injective against GMX0.000%57s7-day average −0.772% · you sell dearer than you buy

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

Long on GMX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.179%−$18 on $10k

Price spread, last 3 days (all we have)−1.108%−$111 · spread now 0.000%, 7d avg −0.772%

Together, before fees−1.287%−$129 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.772% dearer against GMX than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.772%): +$77 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 5.4 days. At the pace of the last 3 days (−0.179% in total) that is about 14 days. The two prices were read 57 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	GMX PENGU/USD [WBTC.b-USDC]	0.008789	L +0.0513% / S −0.0582%	pay 0.0064% / 1h	59m 55s	$119K	—	100x
Short	Injective PENGU/USDC PERP	0.008789	0.0033	get 0.0004% / 1h	59m 55s	$3K	$117K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now 0.000%Rate

Funding earned: −$100.65
Price spread: 0.000% → −0.772%: $77.18
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$35.49
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: GMX: 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 GMX no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

GMX 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 33 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	−0.0091%	1h	0.008789	0.000%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008791	+0.022%	$32K	—	150x	as long as short
Injective PENGU/USDC PERPshort	+0.0033%	1h	0.008789	0.000%	$3K	$117K	5.5x
Gate PENGU_USDT	+0.0084%	4h	0.008795	+0.068%	$3.4M	$15.6M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008792	+0.034%	$312K	$709K	8x	as long as short
01 Exchange PENGUUSD	+0.0096%	1h	0.008801	+0.137%	$201	$64	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008789	0.000%	$19K	$161K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008806	+0.193%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008790	+0.014%	$132K	$520K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008803	+0.159%	$155K	$245K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.008802	+0.145%	$37.4M	$156.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008802	+0.148%	$23.2M	$38.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008805	+0.182%	$7.5M	$46.8M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008800	+0.125%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008799	+0.114%	$11.9M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008791	+0.023%	$4.7M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008806	+0.193%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008797	+0.091%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008785	−0.046%	$301K	$285K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008789	0.000%	$874K	$987K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008798	+0.102%	$466K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008808	+0.216%	$80K	$243K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008799	+0.108%	$593K	$987K	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008997	+2.367%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008789	0.000%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008811	+0.250%	$94K	$337K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008795	+0.067%	$184K	$941K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008782	−0.080%	$203K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0210%	1h	0.008796	+0.080%	$360K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008788	−0.015%	$297	—	10x	as long as short
dYdX PENGU-USD	+0.0322%	1h	0.008806	+0.196%	$12K	$4K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]long	L +0.0513% / S −0.0582%	1h	0.008789	long leg	$119K	—	100x
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+2.025%	$95K	$94K	50x	as long as short