PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0145%/8h= −15.9% APRnext payment −$0.18 per $10,000 · paid last 24h −0.042%

Price spread now: Lighter against Reya+0.042%75s7-day average — · you sell dearer than you buy

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

Long on Reya Short on Lighter

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 · Lighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 0.042% dearer against Reya than usual: you sell high and buy low (spread +0.042% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 23 hours. The two prices were read 75 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	0.008891	0.0241	pay 0.0030% / 1h	6m 53s	$300	—	10x
Short	Lighter PENGU	0.008895	0.0096	get 0.0012% / 1h	6m 53s	$316K	$724K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$30.54
Price spread: +0.042% → 0.000%: $4.16
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$32.38
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Lighter: live order book, 36 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 Lighter live order book, 36 min ago	4.96 bp	13.8 bp −$14	81.1 bp −$811	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 exchanges

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
dYdX PENGU-USD	0.0000%	1h	0.008895	+0.037%	$19K	$21K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008890	−0.012%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.151%	$3K	$117K	5.5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0065%	1h	0.008897	+0.063%	$339K	$2.7M	50x	as long as short
01 Exchange PENGUUSD	+0.0080%	1h	0.008896	+0.053%	$204	$141	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0088%	1h	0.008890	−0.015%	$1K	$27K	10x	as long as short
Lighter PENGUshort	+0.0096%	1h	0.008895	+0.042%	$316K	$724K	8x
Nado PENGU-PERP	+0.0100%	1h	0.008892	+0.013%	$617K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008897	+0.064%	$8.5M	$17.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008897	+0.061%	$108K	$830K	20x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008896	+0.053%	$133K	$221K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008895	+0.040%	$38.2M	$197.7M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008891	−0.003%	$23.9M	$47.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008890	−0.015%	$8.4M	$56.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008900	+0.098%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008889	−0.026%	$3.6M	$18.4M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008893	+0.019%	$12.1M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008895	+0.042%	$5.3M	$10.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008899	+0.087%	$8.5M	$14.0M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008885	−0.071%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008890	−0.015%	$297K	$402K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008859	−0.361%	$878K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008897	+0.069%	$467K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008898	+0.075%	$81K	$247K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008887	−0.048%	$23K	$357K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009108	+2.437%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008890	−0.015%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008905	+0.154%	$92K	$350K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008889	−0.024%	$179K	$746K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008887	−0.048%	$205K	—	3x	as long as short
Reya PENGURUSDPERPlong	+0.0241%	1h	0.008891	long leg	$300	—	10x
BloFin PENGU-USDT	+0.0340%	4h	0.008901	+0.109%	$1.6M	$5.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0431% / S −0.0359%	1h	0.008888	−0.037%	$103K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2136%	1h	0.008982	+1.020%	$82K	$89K	50x	as long as short