PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0144%/8h= +15.8% APRnext payment +$0.18 per $10,000 · paid last 24h +0.042%

Price spread now: Reya against Lighter−0.223%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Reya

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropLighter: Season 3 · Reya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.223% cheaper against Lighter than usual: you would sell low and buy high (spread −0.223% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$22 on $10k: about 5.2 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PENGU	0.009216	0.0096	pay 0.0012% / 1h	12m 49s	$332K	$773K	8x
Short	Reya PENGURUSDPERP	0.009195	0.0240	get 0.0030% / 1h	12m 49s	$311	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Lighter. 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 LighterbpFee ReyabpOrdersPrice spread, now −0.223%Rate

Funding earned: $30.33
Price spread: −0.223% → 0.000%: −$22.33
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: $2
Costs to cover: 0.060%
Break-even: 6.5 days

Slippage unknown: Lighter: live order book, 22 min ago; Reya: 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, 22 min ago	7.09 bp	35.5 bp −$36	91.3 bp −$913	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009192	−0.259%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−4.633%	$3K	$117K	5.5x	as long as short
Lighter PENGUlong	+0.0096%	1h	0.009216	long leg	$332K	$773K	8x
Nado PENGU-PERP	+0.0100%	1h	0.009197	−0.203%	$647K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009211	−0.053%	$147K	$730K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009185	−0.336%	$139K	$267K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009219	+0.030%	$40.6M	$194.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009210	−0.065%	$24.8M	$46.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009210	−0.065%	$8.3M	$57.8M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009200	−0.174%	$19K	$25K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENGU_USDT	+0.0100%	4h	0.009206	−0.109%	$3.7M	$18.1M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009222	+0.065%	$11.4M	$13.1M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009221	+0.054%	$5.1M	$10.4M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009222	+0.065%	$9.1M	$14.6M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009211	−0.054%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009209	−0.076%	$319K	$385K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009127	−0.965%	$918K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009152	−0.693%	$480K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009147	−0.749%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009198	−0.195%	$24K	$299K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009432	+2.344%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009207	−0.098%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009207	−0.098%	$95K	$414K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009220	+0.046%	$189K	$746K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009200	−0.174%	$213K	—	3x	as long as short
Hyperliquid PENGU	+0.0230%	1h	0.009229	+0.141%	$9.4M	$16.7M	5x	as long as short
Reya PENGURUSDPERPshort	+0.0240%	1h	0.009195	−0.223%	$311	—	10x
Deribit PENGU_USDC-PERPETUAL	+0.0294%	1h	0.009204	−0.130%	$1K	$29K	10x	as long as short
01 Exchange PENGUUSD	+0.0328%	1h	0.009206	−0.109%	$211	$41	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009193	−0.250%	$1.6M	$5.1M	75x	as long as short
dYdX PENGU-USD	+0.0395%	1h	0.009185	−0.335%	$12K	$6K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0435% / S −0.0352%	1h	0.009143	−0.792%	$105K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0530%	1h	0.009220	+0.047%	$357K	$2.6M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1928%	1h	0.009198	−0.195%	$81K	$74K	50x	as long as short