PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0139%/8h= −15.2% APRnext payment −$0.17 per $10,000 · paid last 24h −0.060%

Price spread now: Backpack against Reya−0.053%7-day average — · you buy dearer than you sell

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

Long on Reya Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Backpack is 0.053% cheaper against Reya than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya PENGURUSDPERP	0.008751	0.0239	pay 0.0030% / 1h	31m 58s	$295	—	10x
Short	Backpack PENGU_USDC_PERP	0.008746	0.0100	get 0.0013% / 1h	31m 58s	$300K	$274K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Reya. 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 ReyabpFee BackpackbpOrdersPrice spread, now −0.053%Rate

Funding earned: −$29.11
Price spread: −0.053% → 0.000%: −$5.31
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$50.42
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Backpack: live order book, 31 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Backpack live order book, 31 min ago	1.14 bp	11.4 bp −$11	doesn't fit	doesn't fit	doesn't fit

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
Deribit PENGU_USDC-PERPETUAL	−0.0093%	1h	0.008746	−0.053%	$18K	$10K	10x	as long as short
01 Exchange PENGUUSD	−0.0048%	1h	0.008757	+0.073%	$200	$64	5x	as long as short
Gate PENGU_USDT	−0.0022%	4h	0.008751	+0.004%	$3.3M	$15.6M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008752	+0.010%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.438%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008749	−0.019%	$311K	$709K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008749	−0.019%	$23K	$166K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008749	−0.013%	$587K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008751	+0.004%	$8.2M	$14.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008753	+0.032%	$121K	$577K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008754	+0.038%	$154K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008758	+0.084%	$36.6M	$160.1M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008753	+0.027%	$23.3M	$38.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008758	+0.084%	$7.5M	$46.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008760	+0.107%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008758	+0.084%	$11.5M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008758	+0.084%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008759	+0.095%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008756	+0.061%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERPshort	+0.0100%	1h	0.008746	−0.053%	$300K	$274K	10x
Variational Omni PENGU	+0.0100%	4h	0.008738	−0.147%	$868K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008744	−0.078%	$467K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008743	−0.087%	$80K	$243K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008961	+2.404%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008745	−0.065%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008773	+0.255%	$91K	$349K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008755	+0.050%	$180K	$944K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008737	−0.156%	$202K	—	3x	as long as short
dYdX PENGU-USD	+0.0212%	1h	0.008747	−0.039%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERPlong	+0.0239%	1h	0.008751	long leg	$295	—	10x
BloFin PENGU-USDT	+0.0340%	4h	0.008744	−0.076%	$1.5M	$3.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0555% / S −0.0662%	1h	0.008751	+0.004%	$131K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0650%	1h	0.008754	+0.035%	$355K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.472%	$95K	$94K	50x	as long as short