PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0550%/8h= +60.3% APRnext payment +$0.69 per $10,000 · paid last 24h +0.020%

Price spread now: GMX against Injective+0.603%7-day average +0.742% · you sell dearer than you buy

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

Long on Injective Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.201%+$20 on $10k

Price spread, last 4 days (all we have)−0.006%−$1 · spread now +0.603%, 7d avg +0.742%

Together, before fees+0.195%+$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.139% cheaper against Injective than usual: you would sell low and buy high (spread +0.603% now, against its 7-day average of +0.742%). If the spread goes back, that is −$14 on $10k: about 20 hours of funding at the current rate (+$17 a day). At the pace of the last 3 days (+0.201% in total) that is about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective PENGU/USDC PERP	0.008789	0.0033	pay 0.0004% / 1h	24m 33s	$3K	$117K	5.5x
Short	GMX PENGU/USD [WBTC.b-USDC]	0.008842	L +0.0516% / S −0.0584%	get 0.0073% / 1h	24m 33s	$120K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Injective. 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 InjectivebpFee GMXbpOrdersPrice spread, now +0.603%Rate

Funding earned: $115.57
Price spread: +0.603% → +0.742%: −$13.91
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee GMX: 6 bp × 2 orders: −$12
Net: $89.65
Costs to cover: 0.120%
Break-even: 1.6 days

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

Injective and 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	0.0000%	1h	0.008842	+0.603%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008844	+0.622%	$33K	—	150x	as long as short
Injective PENGU/USDC PERPlong	+0.0033%	1h	0.008789	long leg	$3K	$117K	5.5x
Gate PENGU_USDT	+0.0072%	4h	0.008812	+0.262%	$3.3M	$15.7M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008821	+0.364%	$314K	$719K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008841	+0.592%	$23K	$123K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008825	+0.410%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008820	+0.357%	$118K	$589K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008816	+0.307%	$155K	$241K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008821	+0.366%	$36.9M	$163.3M	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	0.008816	+0.307%	$23.3M	$39.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008820	+0.353%	$7.4M	$47.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008830	+0.466%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008815	+0.296%	$10.8M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008817	+0.319%	$4.9M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008818	+0.330%	$8.3M	$12.3M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008821	+0.364%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008812	+0.262%	$299K	$312K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008840	+0.579%	$918K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008868	+0.898%	$462K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008860	+0.808%	$80K	$242K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008821	+0.370%	$595K	$1.0M	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009055	+3.027%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008841	+0.592%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008860	+0.808%	$92K	$372K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008816	+0.304%	$185K	$946K	10x	as long as short
01 Exchange PENGUUSD	+0.0104%	1h	0.008824	+0.398%	$202	$64	5x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008835	+0.523%	$204K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008853	+0.724%	$299	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008828	+0.444%	$1.5M	$3.7M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0362%	1h	0.008851	+0.700%	$346K	$2.3M	50x	as long as short
dYdX PENGU-USD	+0.0506%	1h	0.008817	+0.316%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]short	L +0.0516% / S −0.0584%	1h	0.008842	+0.603%	$120K	—	100x
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008950	+1.832%	$96K	$62K	50x	as long as short