PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0207%/8h= −22.7% APRnext payment −$0.26 per $10,000 · paid last 24h +0.050%

Price spread now: Injective against Reya−3.579%52s7-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 Injective

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 airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Injective is 3.579% cheaper against Reya than usual: you would sell low and buy high (−$358 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 52 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	Reya PENGURUSDPERP	0.009115	0.0240	pay 0.0030% / 1h	18m 09s	$308	—	10x
Short	Injective PENGU/USDC PERP	0.008789	0.0033	get 0.0004% / 1h	18m 09s	$3K	$117K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −3.579%Rate

Funding earned: −$43.48
Price spread: −3.579% → 0.000%: −$357.89
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$407.39
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; 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 Reya no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

Reya and 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	0.009119	+0.039%	$34K	—	150x	as long as short
Injective PENGU/USDC PERPshort	+0.0033%	1h	0.008789	−3.579%	$3K	$117K	5.5x
Lighter PENGU	+0.0096%	1h	0.009130	+0.162%	$330K	$773K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009118	+0.036%	$642K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009130	+0.162%	$146K	$730K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009115	−0.002%	$138K	$267K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009124	+0.098%	$40.2M	$194.1M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009101	−0.156%	$24.5M	$45.8M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009104	−0.123%	$8.2M	$56.9M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009120	+0.052%	$18K	$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	0.009110	−0.057%	$3.7M	$18.1M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009121	+0.063%	$11.3M	$13.1M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009114	−0.013%	$5.1M	$10.4M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009123	+0.085%	$9.0M	$14.5M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009117	+0.019%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009114	−0.013%	$315K	$382K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009113	−0.025%	$907K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009124	+0.100%	$478K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009182	+0.733%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009127	+0.129%	$23K	$297K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009349	+2.565%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009128	+0.140%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009134	+0.206%	$95K	$414K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009125	+0.104%	$187K	$744K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009123	+0.085%	$211K	—	3x	as long as short
Hyperliquid PENGU	+0.0194%	1h	0.009129	+0.151%	$9.3M	$16.6M	5x	as long as short
Reya PENGURUSDPERPlong	+0.0240%	1h	0.009115	long leg	$308	—	10x
Deribit PENGU_USDC-PERPETUAL	+0.0298%	1h	0.009134	+0.206%	$1K	$29K	10x	as long as short
01 Exchange PENGUUSD	+0.0328%	1h	0.009122	+0.074%	$209	$41	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009155	+0.436%	$1.6M	$5.0M	75x	as long as short
dYdX PENGU-USD	+0.0387%	1h	0.009108	−0.083%	$12K	$6K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0434% / S −0.0352%	1h	0.009117	+0.019%	$104K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0534%	1h	0.009136	+0.228%	$354K	$2.6M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1928%	1h	0.009196	+0.886%	$81K	$74K	50x	as long as short