PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0210%/8h= +23.0% APRnext payment +$0.26 per $10,000 · paid last 24h −0.096%

Price spread now: Lighter against Injective−0.637%7-day average +0.807% · you buy dearer than you sell

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

Long on Injective Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.211%−$21 on $10k

Price spread, last 3 days (all we have)+1.529%+$153 · spread now −0.637%, 7d avg +0.807%

Together, before fees+1.318%+ Points / potential airdropLighter: Season 3 · farm board+$132 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 1.444% cheaper against Injective than usual: you would sell low and buy high (spread −0.637% now, against its 7-day average of +0.807%). If the spread goes back, that is −$144 on $10k: about 23 days of funding at the current rate (+$6 a day). Mind the row above: over the last 7 days funding on this pair cost −0.211%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective PENGU/USDC PERP	0.008789	−0.0114	get 0.0014% / 1h	26m 12s	$3K	$117K	5.5x
Short	Lighter PENGU	0.008733	0.0096	get 0.0012% / 1h	26m 12s	$305K	$741K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Injective. 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 InjectivebpFee LighterbpOrdersPrice spread, now −0.637%Rate

Funding earned: $44.12
Price spread: −0.637% → +0.807%: −$144.43
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Lighter: 0 bp × 2 orders: $0
Net: −$100.33
Costs to cover: 0.000%
Break-even: 22.9 days

Slippage unknown: Injective: no order-book sample; Lighter: live order book, 49 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 Injective no order-book sample	—	—	—	—	—
Sell Lighter live order book, 49 min ago	3.97 bp	8.6 bp −$9	73.9 bp −$739	doesn't fit	doesn't fit

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 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
Kraken Futures PF_PENGUUSD	−0.0343%	1h	0.008735	−0.611%	$367K	$2.3M	50x	as long as short
Gate PENGU_USDT	−0.0282%	4h	0.008724	−0.740%	$3.4M	$15.6M	75x	as long as short
Bybit PENGUUSDT	−0.0273%	4h	0.008721	−0.774%	$22.7M	$36.7M	75x	as long as short
01 Exchange PENGUUSD	−0.0240%	1h	0.008726	−0.717%	$200	$59	5x	as long as short
Variational Omni PENGU	−0.0238%	4h	0.008725	−0.723%	$797K	$802K	—	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0208%	1h	0.008729	−0.683%	$19K	$9K	10x	as long as short
Backpack PENGU_USDC_PERP	−0.0141%	1h	0.008745	−0.501%	$312K	$313K	10x	as long as short
Injective PENGU/USDC PERPlong	−0.0114%	1h	0.008789	long leg	$3K	$117K	5.5x
Nado PENGU-PERP	+0.0001%	1h	0.008728	−0.688%	$693K	$775K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008731	−0.657%	$33K	—	150x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENGU-USD	+0.0027%	1h	0.008741	−0.546%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perp	+0.0094%	4h	0.008745	−0.501%	$458K	$2.1M	10x	as long as short
Lighter PENGUshort	+0.0096%	1h	0.008733	−0.637%	$305K	$741K	8x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008730	−0.671%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008732	−0.649%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008740	−0.562%	$188K	$469K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008736	−0.603%	$151K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008727	−0.705%	$36.2M	$154.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008725	−0.728%	$7.5M	$46.9M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008740	−0.558%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008731	−0.660%	$12.4M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008735	−0.614%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008732	−0.649%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008718	−0.808%	—	$2.3M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008758	−0.353%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008940	+1.718%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008729	−0.683%	$995	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008751	−0.432%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008726	−0.712%	$180K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008725	−0.728%	$202K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008729	−0.687%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008749	−0.455%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0496% / S −0.0683%	1h	0.008731	−0.660%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008788	−0.011%	$94K	$103K	50x	as long as short