PENGU funding rates and arbitrage

PENGU perpetuals trade on 23 contracts across 18 venues, forming 248 cross-venue arbitrage pairs. By net APR the current best pair is long Deribit against short Coinbase, netting +937.98%, though note the legs settle on different cadences (8h / 1h)。

PENGU perpetual funding rates by venue

APR = current rate × (24 ÷ settlement interval) × 365. Venues settle on different cadences, so rates must be annualised before comparing.

Venue	Contract	Margin	Settlement	Current rate	APR	24h avg APR	24h volume	Mark
Binance	PENGUUSDT	USDT	4h	0.0039%	+8.60%	+5.01%	$45.4M	0.007606
OKX	PENGU-USDT-SWAP	USDT	4h	0.0019%	+4.25%	+3.29%	$16.2M	0.007601
KuCoin	PENGUUSDTM	USDT	4h	0.0050%	+10.95%	+2.16%	$13.8M	0.007611
Bybit	PENGUUSDT	USDT	4h	0.0050%	+10.95%	+2.50%	$9.8M	0.007601
Hyperliquid	PENGU	USDC	1h	0.0013%	+10.95%	+0.70%	$5.9M	0.007607
WhiteBIT	PENGU_PERP	USDT	4h	0.0050%	+10.95%	+10.67%	$5.5M	0.007604
Binance	PENGUUSDC	USDC	4h	0.0019%	+4.22%	+0.42%	$4.8M	0.007593
Gate	PENGU_USDT	USDT	4h	0.0045%	+9.86%	+3.46%	$4.0M	0.007607
Bitget	PENGUUSDT	USDT	4h	0.0050%	+10.95%	+10.95%	$3.9M	0.007607
MEXC	PENGU_USDT	USDT	4h	0.0039%	+8.54%	+4.98%	$3.6M	0.007603
BingX	PENGU-USDC	USDC	4h	0.0050%	+10.95%	+10.95%	$2.4M	0.007592
BingX	PENGU-USDT	USDT	4h	0.0050%	+10.95%	+10.95%	$1.8M	0.007604
LBank	PENGUUSDT	USDT	4h	0.0038%	+8.32%	+5.06%	$1.6M	0.007608
Kraken	PF_PENGUUSD	USD	1h	0.0000%	+0.27%	-13.92%	$549K	0.007605
Lighter	PENGU	USDC	1h	0.0002%	+1.75%	+4.16%	$389K	0.007603
Aster	PENGUUSDT	USDT	4h	0.0050%	+10.95%	+10.95%	$155K	0.007610
MEXC	PENGU_USDC	USDC	4h	0.0021%	+4.60%	+0.43%	$134K	0.007595
HTX	PENGU-USDT	USDT	4h	0.0281%	+61.52%	+11.16%	$121K	0.007643
Deribit	PENGU_USDC-PERPETUAL	USDC	8h	-0.0006%	-0.66%	-1.46%	$67K	0.007603
Bitget	PENGUPERP	USDC	4h	0.0050%	+10.95%	+10.95%	$66K	0.007603
Bybit	PENGUPERP	USDC	4h	0.0050%	+10.95%	+10.95%	$38K	0.007603
Crypto.com	PENGUUSD-PERP	USD	4h	0.0030%	+6.57%	+8.23%	$11K	0.007605
Coinbase	PENGU-PERP	USDC	1h	0.1070%	+937.32%	+937.32%	$0	0.009807

PENGU cross-venue arbitrage pairs

Short the higher-APR leg and go long the lower one; net APR = short leg − long leg.

Long	Short	Net APR	Daily	24h avg	Settlement	Liquidity
Deribit USDC	Coinbase USDC	+937.98%	2.5698%	+938.78%	8h / 1h	$0
Kraken USD	Coinbase USDC	+937.05%	2.5673%	+951.24%	1h matched	$0
Lighter USDC	Coinbase USDC	+935.57%	2.5632%	+933.16%	1h matched	$0
Binance USDC	Coinbase USDC	+933.10%	2.5564%	+936.90%	4h / 1h	$0
OKX USDT	Coinbase USDC	+933.07%	2.5563%	+934.03%	4h / 1h	$0
MEXC USDC	Coinbase USDC	+932.72%	2.5554%	+936.89%	4h / 1h	$0
Crypto.com USD	Coinbase USDC	+930.75%	2.5500%	+929.09%	4h / 1h	$0
LBank USDT	Coinbase USDC	+929.00%	2.5452%	+932.26%	4h / 1h	$0
MEXC USDT	Coinbase USDC	+928.78%	2.5446%	+932.34%	4h / 1h	$0
Binance USDT	Coinbase USDC	+928.72%	2.5444%	+932.31%	4h / 1h	$0
Gate USDT	Coinbase USDC	+927.47%	2.5410%	+933.86%	4h / 1h	$0
Aster USDT	Coinbase USDC	+926.37%	2.5380%	+926.37%	4h / 1h	$0

Pudgy Penguins project profile

Website Whitepaper X (Twitter)Telegram Discord

Key facts

Total: 76.72B
Max supply: 88.89B
Type: Token
Market cap rank: #119

BNB Chain EcosystemSolana EcosystemMemeEthereum EcosystemSolana MemeHyperliquid EcosystemBinance HODLer AirdropsAirdropped Tokens by NFT Projects

Contract addresses

solana2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv

abstract0x9ebe3a824ca958e4b3da772d2065518f009cba62

ethereum0x6418c0dd099a9fda397c766304cdd918233e8847

hyperevm0xfa44c2634ff17cbe26dc3007d36bd61c79068c14

robinhood0x74be72affafbc8de30f0c11247814036314d625f

binance0x6418c0dd099a9fda397c766304cdd918233e8847

1 more chains

hyperliquid0x1765b5a9ec8fc3cdbc209c63cac68e86

Block explorers

solscan.io intel.arkm.com abscan.org etherscan.io ethplorer.io hyperevmscan.io

About

PENGU is the official coin of Pudgy Penguins. Pudgy Penguins has become the face of crypto with one of the most influential communities in the industry. From large companies wearing the Penguin, to being featured in ETF commercials, to garnering millions of followers and over 100 billion views, the Pengu has become a cultural icon making PENGU the world’s social currency. PENGU allows for the ever-expanding Pudgy Penguin fanbase and the hundreds of millions of people outside of crypto that see and share the Pudgy Penguin everyday, to join The Huddle. PENGU is a symbol for community, memes, and good vibes. Believe in Pengu. Believe in the Prophecy.

Reference data from CoinGecko, independent of the rate data on this site. We do not verify or endorse what these links contain.

Funding rates for other coins

TIA+58.7%WIF+969.3%WLD+376.2%XLM+213.6%ETC+209.4%ETHFI+957.8%FARTCOIN+864.8%OP+656.0%POL+384.0%SHIB+31.9%STRK+591.7%WLFI+506.6%

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