PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.068%

Price spread now: Deribit against Hyperliquid−0.046%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.046% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid PENGU	0.008671	0.0100	pay 0.0013% / 1h	49m 05s	$8.1M	$14.7M	5x
Short	Deribit PENGU_USDC-PERPETUAL	0.008667	0	get 0.0000% / 1h	49m 05s	$18K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Hyperliquid. 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 HyperliquidbpFee DeribitbpOrdersPrice spread, now −0.046%Rate

Funding earned: −$21
Price spread: −0.046% → 0.000%: −$4.61
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$41.61
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 4 min ago; Deribit: 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 Hyperliquid live order book, 4 min ago	0.57 bp	10.2 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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-PERPETUALshort	0.0000%	1h	0.008667	−0.046%	$18K	$10K	10x
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008669	−0.027%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0016%	4h	0.008669	−0.023%	$3.3M	$15.6M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+1.361%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0040%	1h	0.008673	+0.023%	$198	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008673	+0.023%	$309K	$712K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008667	−0.046%	$23K	$130K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008672	+0.017%	$582K	$1.0M	5x	as long as short
Hyperliquid PENGUlong	+0.0100%	1h	0.008671	long leg	$8.1M	$14.7M	5x
Aster PENGUUSDT	+0.0100%	4h	0.008671	0.000%	$120K	$579K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008680	+0.104%	$153K	$241K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008677	+0.073%	$36.1M	$161.3M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008676	+0.058%	$22.9M	$39.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008679	+0.092%	$7.2M	$46.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008670	−0.012%	$19K	$23K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008670	−0.012%	$10.9M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008668	−0.035%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008681	+0.115%	$8.2M	$12.3M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008668	−0.035%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008667	−0.046%	$296K	$293K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008695	+0.277%	$864K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008741	+0.810%	$459K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008704	+0.381%	$79K	$243K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008882	+2.433%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008668	−0.035%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008697	+0.300%	$91K	$372K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008679	+0.094%	$179K	$946K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008661	−0.115%	$200K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008663	−0.087%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008670	−0.012%	$1.5M	$3.5M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0369%	1h	0.008677	+0.066%	$340K	$2.4M	50x	as long as short
dYdX PENGU-USD	+0.0399%	1h	0.008675	+0.045%	$11K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0493% / S −0.0419%	1h	0.008667	−0.046%	$123K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008967	+3.414%	$95K	$61K	50x	as long as short