PENGU

Alert

Spread before costs (cost unknown: a leg has no order-book sample)+10.566%

7d average+0.834%if it closes, per $10,000$1057funding while held, a day+$2.00

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective PENGU/USDC PERP	0.007874	0.0033	pay 0.0004% / 1h	47m 00s	$3K	$116K	5.5x
Short	OKX PENGU-USDT-SWAP	0.008706	0.0100	get 0.0050% / 4h	47m 00s	$7.7M	$34.3M	50x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee InjectivebpFee OKXbpOrdersClose when spread is

Spread captured: $1,056.64
Funding while held: $2
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: $1,048.62
Spread needed to break even: 0.100%

Slippage unknown: Injective: no order-book sample; OKX: live order book, 3 min ago. Net counts fees only.

Cost of waiting

funding view

Funding /8h: +0.0067%
Per $10,000 a day: +$2.00
Average in range /8h: —

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 OKX live order book, 3 min ago	0.57 bp	11.0 bp −$11	30.2 bp −$302	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 price on every exchange

against the cheapest. Click to use as the short leg.

Injective0.007874cheapest

Arcus0.008680+10.236%

Pacifica0.008685+10.300%

Variational Omni0.008685+10.305%

dYdX0.008687+10.331%

01 Exchange0.008688+10.338%

Nado0.008689+10.357%

Reya0.008691+10.373%

GMX0.008698+10.465%

ApeX Omni0.008700+10.490%

Bybit0.008703+10.528%

HTX0.008703+10.528%

gTrade (Gains Network)0.008704+10.541%

OKX0.008706+10.566%

Aevo0.008716+10.693%

Binance0.008717+10.704%

Orderly0.008718+10.719%

Extended0.008720+10.743%

SoDEX0.008722+10.770%

Deribit0.008725+10.808%

BloFin0.008725+10.808%

Gate0.008727+10.833%

Backpack0.008728+10.846%

KuCoin0.008729+10.859%

Aster0.008729+10.865%

MEXC0.008730+10.871%

BingX0.008730+10.871%

Lighter0.008731+10.884%

Hyperliquid0.008734+10.922%

Kraken Futures0.008737+10.955%

Bitget0.008737+10.960%

Coinbase International0.008824+12.065%

SunX0.008942+13.564%

PENGU on 33 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Injective PENGU/USDC PERPlong	0.000%	+0.0033%	1h	$3K	$116K	5.5x
Arcus PENGU-USD	+10.236%	+0.0100%	1h	$4K	$9K	5x	as long as short
Pacifica PENGU	+10.300%	+0.0100%	1h	$204K	$124K	5x	as long as short
Variational Omni PENGU	+10.305%	+0.0100%	4h	$702K	$299K	—	as long as short
dYdX PENGU-USD	+10.331%	0.0000%	1h	$10K	$1K	5x	as long as short
01 Exchange PENGUUSD	+10.338%	−0.0056%	1h	$167	$28	5x	as long as short
Nado PENGU-PERP	+10.357%	+0.0100%	1h	$223K	$294K	5x	as long as short
Reya PENGURUSDPERP	+10.373%	+0.0235%	1h	$293	—	10x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	+10.465%	L +0.0391% / S −0.0366%	1h	$86K	—	100x	as long as short
ApeX Omni PENGUUSDT	+10.490%	+0.0100%	1h	$75K	$250K	50x	as long as short

Show all 33 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Bybit PENGUUSDT	+10.528%	+0.0100%	4h	$21.9M	$21.3M	75x	as long as short
HTX PENGU-USDT	+10.528%	+0.0100%	4h	$97K	$183K	25x	as long as short
gTrade (Gains Network) PENGU/USD	+10.541%	L +0.0007% / S −0.0003%	1h	$33K	—	150x	as long as short
OKX PENGU-USDT-SWAPshort	+10.566%	+0.0100%	4h	$7.7M	$34.3M	50x
Aevo PENGU-PERP	+10.693%	+0.0104%	1h	$201K	$17K	3x	as long as short
Binance PENGUUSDT	+10.704%	+0.0100%	4h	$37.6M	$104.8M	75x	as long as short
Orderly PERP_PENGU_USDC	+10.719%	+0.0096%	4h	$17K	$175K	20x	as long as short
Extended PENGU-USD	+10.743%	+0.0104%	1h	$193K	$665K	10x	as long as short
SoDEX PENGU-USD	+10.770%	+0.0100%	1h	$984	$14K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+10.808%	0.0000%	1h	$22K	$4K	10x	as long as short
BloFin PENGU-USDT	+10.808%	+0.0340%	4h	$1.5M	$890K	75x	as long as short
Gate PENGU_USDT	+10.833%	+0.0100%	4h	$3.8M	$8.6M	75x	as long as short
Backpack PENGU_USDC_PERP	+10.846%	+0.0100%	1h	$301K	$265K	10x	as long as short
KuCoin PENGUUSDTM	+10.859%	+0.0100%	4h	$4.8M	$6.5M	75x	as long as short
Aster PENGUUSDT	+10.865%	+0.0100%	4h	$177K	$318K	20x	as long as short
MEXC PENGU_USDT	+10.871%	+0.0100%	4h	$12.2M	$9.0M	125x	as long as short
BingX PENGU-USDT	+10.871%	+0.0100%	4h	—	$3.7M	—	as long as short
Lighter PENGU	+10.884%	+0.0096%	1h	$304K	$442K	8x	as long as short
Hyperliquid PENGU	+10.922%	+0.0100%	1h	$8.5M	$6.5M	5x	as long as short
Kraken Futures PF_PENGUUSD	+10.955%	+0.0520%	1h	$371K	$769K	50x	as long as short
Bitget PENGUUSDT	+10.960%	+0.0100%	4h	$8.6M	$7.8M	75x	as long as short
Coinbase International PENGU-PERP-INTX	+12.065%	+0.2520%	1h	$85K	$190K	50x	as long as short
SunX PENGU-USDT	+13.564%	+0.0100%	4h	$2K	$1.7M	10x	as long as short