PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0067%/8h= −7.3% APRnext payment −$0.08 per $10,000 · paid last 24h +0.093%

Price spread now: Injective against Nado−4.618%49s7-day average −0.783% · you buy dearer than you sell

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

Long on Nado Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.099%+$10 on $10k

Price spread, last 4 days (all we have)+4.141%+$414 · spread now −4.618%, 7d avg −0.783%

Together, before fees+4.239%+ Points / potential airdropNado: Active · farm board+$424 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 3.834% cheaper against Nado than usual: you would sell low and buy high (−$383 if the spread goes back to its 7-day average of −0.783%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.099%, so the current rate has only just turned against you. The two prices were read 49 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	Nado PENGU-PERP	0.009214	0.0100	pay 0.0012% / 1h	55m 59s	$653K	$1.1M	5x
Short	Injective PENGU/USDC PERP	0.008789	0.0033	get 0.0004% / 1h	55m 59s	$3K	$117K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Nado. 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 NadobpFee InjectivebpOrdersPrice spread, now −4.618%Rate

Funding earned: −$14
Price spread: −4.618% → −0.783%: −$383.44
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$404.46
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Nado: live order book, 2 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 Nado live order book, 2 min ago	1.63 bp	11.1 bp −$11	27.4 bp −$274	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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009228	+0.151%	$34K	—	150x	as long as short
Injective PENGU/USDC PERPshort	+0.0033%	1h	0.008789	−4.618%	$3K	$117K	5.5x
Gate PENGU_USDT	+0.0052%	4h	0.009202	−0.136%	$3.8M	$17.5M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.009237	+0.244%	$330K	$700K	8x	as long as short
Nado PENGU-PERPlong	+0.0100%	1h	0.009214	long leg	$653K	$1.1M	5x
Aster PENGUUSDT	+0.0100%	4h	0.009210	−0.053%	$142K	$790K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009214	−0.005%	$140K	$235K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009206	−0.094%	$40.8M	$196.7M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009194	−0.222%	$25.0M	$47.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009189	−0.277%	$8.4M	$58.6M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PENGU-USD	+0.0100%	1h	0.009220	+0.060%	$19K	$26K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009207	−0.081%	$12.3M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009213	−0.016%	$5.2M	$10.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009215	+0.005%	$9.0M	$14.9M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009204	−0.114%	—	$3.7M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009220	+0.060%	$305K	$371K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009216	+0.013%	$948K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009227	+0.136%	$482K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009238	+0.255%	$81K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009227	+0.136%	$24K	$357K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009453	+2.588%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009229	+0.157%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009224	+0.103%	$96K	$413K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009198	−0.182%	$189K	$746K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009225	+0.114%	$213K	—	3x	as long as short
Hyperliquid PENGU	+0.0106%	1h	0.009227	+0.136%	$9.7M	$16.7M	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0211%	1h	0.009232	+0.194%	$346K	$2.7M	50x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009223	+0.097%	$311	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009200	−0.157%	$1.7M	$5.4M	75x	as long as short
01 Exchange PENGUUSD	+0.0344%	1h	0.009222	+0.081%	$211	$141	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0400%	1h	0.009233	+0.201%	$1K	$28K	10x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0434% / S −0.0351%	1h	0.009224	+0.103%	$105K	—	100x	as long as short
dYdX PENGU-USD	+0.2080%	1h	0.009215	+0.006%	$22K	$18K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2288%	1h	0.009518	+3.294%	$81K	$88K	50x	as long as short