PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0256%/8h= −28.0% APRnext payment −$1.28 per $10,000 · paid last 24h −0.035%

Price spread now: Gate against OKX+0.247%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$560.558% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.059%−$6 on $10k

Price spread, last 7 days−0.251%−$25 · spread now +0.247%, 7d avg +0.004%

Together, before fees−0.310%−$31 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.243% dearer against OKX than usual: you sell high and buy low (spread +0.247% now, against its 7-day average of +0.004%): +$24 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 3.2 days. At the pace of the last 7 days (−0.059% in total) that is about 29 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.059% in total (about -3.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.28 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PENGU-USDT-SWAP	0.008917	0.0100	pay 0.0050% / 4h	3h 06m	$7.7M	$48.0M	50x
Short	Gate PENGU_USDT	0.008939	−0.0156	pay 0.0078% / 4h	3h 06m	$3.5M	$15.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against OKX. 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 OKXbpFee GatebpOrdersPrice spread, now +0.247%Rate

Funding earned: −$53.76
Price spread: +0.247% → +0.004%: $24.3
Slippage, 4 orders: −$30.79
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$85.24
Costs to cover: 0.558%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Gate: live order book, 2 min ago.

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 OKX live order book, 2 min ago	0.56 bp	8.9 bp −$9	29.0 bp −$290	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	2.24 bp	17.2 bp −$17	53.4 bp −$534	doesn't fit	doesn't fit

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	−0.0386%	1h	0.008948	+0.342%	$372K	$2.3M	50x	as long as short
01 Exchange PENGUUSD	−0.0176%	1h	0.008933	+0.179%	$204	$59	5x	as long as short
Gate PENGU_USDTshort	−0.0156%	4h	0.008939	+0.247%	$3.5M	$15.9M	75x
Variational Omni PENGU	−0.0122%	4h	0.008913	−0.045%	$920K	$976K	—	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008939	+0.247%	$19K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008935	+0.202%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.435%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008939	+0.247%	$310K	$732K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008940	+0.258%	$19K	$172K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008939	+0.247%	$709K	$765K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008937	+0.224%	$8.4M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008946	+0.329%	$192K	$465K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008930	+0.146%	$154K	$240K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008929	+0.135%	$37.8M	$156.2M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008914	−0.034%	$23.4M	$37.5M	75x	as long as short
OKX PENGU-USDT-SWAPlong	+0.0100%	4h	0.008917	long leg	$7.7M	$48.0M	50x
Arcus PENGU-USD	+0.0100%	1h	0.008940	+0.258%	$20K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008926	+0.101%	$13.0M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008948	+0.348%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008940	+0.258%	$8.5M	$12.7M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008938	+0.236%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008946	+0.325%	$307K	$321K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008952	+0.387%	$468K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008958	+0.460%	$82K	$248K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009148	+2.591%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008936	+0.213%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008948	+0.348%	$92K	$301K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008936	+0.216%	$184K	$935K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008931	+0.157%	$206K	—	3x	as long as short
dYdX PENGU-USD	+0.0106%	1h	0.008930	+0.147%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008929	+0.132%	$302	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008945	+0.314%	$1.5M	$3.0M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0522% / S −0.0723%	1h	0.008932	+0.168%	$118K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.009008	+1.021%	$96K	$104K	50x	as long as short