PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0063%/8h= −6.9% APRnext payment −$0.08 per $10,000 · paid last 24h +0.092%

Price spread now: Injective against Lighter−0.340%96s7-day average −0.763% · you buy dearer than you sell

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

Long on Lighter Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.208%+$21 on $10k

Price spread, last 4 days (all we have)−0.320%−$32 · spread now −0.340%, 7d avg −0.763%

Together, before fees−0.112%+ Points / potential airdropLighter: Season 3 · farm board−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.423% dearer against Lighter than usual: you sell high and buy low (spread −0.340% now, against its 7-day average of −0.763%): +$42 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 22 days. Mind the row above: over the last 7 days funding on this pair paid +0.208%, so the current rate has only just turned against you. The two prices were read 96 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	Lighter PENGU	0.008819	0.0096	pay 0.0012% / 1h	21m 30s	$314K	$719K	8x
Short	Injective PENGU/USDC PERP	0.008789	0.0033	get 0.0004% / 1h	21m 30s	$3K	$117K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Lighter. 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 LighterbpFee InjectivebpOrdersPrice spread, now −0.340%Rate

Funding earned: −$13.16
Price spread: −0.340% → −0.763%: $42.26
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $29.08
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter: live order book, 33 min ago; 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 Lighter live order book, 33 min ago	4.57 bp	13.2 bp −$13	78.5 bp −$785	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008833	+0.159%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008827	+0.088%	$33K	—	150x	as long as short
Injective PENGU/USDC PERPshort	+0.0033%	1h	0.008789	−0.340%	$3K	$117K	5.5x
Gate PENGU_USDT	+0.0076%	4h	0.008810	−0.102%	$3.3M	$15.7M	75x	as long as short
Lighter PENGUlong	+0.0096%	1h	0.008819	long leg	$314K	$719K	8x
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008830	+0.125%	$23K	$118K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008805	−0.162%	$593K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008821	+0.023%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008818	−0.012%	$118K	$589K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008814	−0.057%	$155K	$241K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.008809	−0.118%	$36.8M	$163.2M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008805	−0.159%	$23.3M	$39.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008806	−0.147%	$7.4M	$47.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008810	−0.102%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008811	−0.091%	$10.8M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008817	−0.023%	$4.9M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008809	−0.113%	$8.3M	$12.3M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008804	−0.170%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008813	−0.068%	$292K	$314K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008840	+0.237%	$918K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008819	−0.002%	$460K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008843	+0.272%	$80K	$242K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009047	+2.585%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008825	+0.068%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008840	+0.238%	$92K	$372K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008799	−0.224%	$185K	$941K	10x	as long as short
01 Exchange PENGUUSD	+0.0104%	1h	0.008808	−0.125%	$202	$64	5x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008822	+0.034%	$204K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008807	−0.140%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008820	+0.011%	$1.5M	$3.7M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0363%	1h	0.008834	+0.171%	$346K	$2.3M	50x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0499% / S −0.0492%	1h	0.008825	+0.068%	$119K	—	100x	as long as short
dYdX PENGU-USD	+0.0507%	1h	0.008822	+0.030%	$12K	$5K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008950	+1.485%	$96K	$62K	50x	as long as short