# PENGU funding rates and arbitrage

Updated 2026-10-29 15:32 UTC · https://afterfees.xyz/coin/PENGU

## Best PENGU arbitrage after every cost

No PENGU pair nets a profit at this size right now.

_At $10,000 per side, held 7 days, after taker fees, order-book slippage and carry._

## PENGU funding rate on every exchange

| Exchange | Contract | Rate | Every | Annualised | Settled 7d, annualised | Open interest | Next settlement |
|---|---|---|---|---|---|---|---|
| [Crypto.com](https://afterfees.xyz/venues/cryptocom) | PENGUUSD-PERP | 0.0043% | 1 h | +37.8% | +24.1% | $24K | 2026-10-29 16:00 |
| [Backpack](https://afterfees.xyz/venues/backpack) | PENGU_USDC_PERP | 0.0035% | 1 h | +30.3% | +34.0% | $305.5K | 2026-10-29 16:00 |
| [HTX](https://afterfees.xyz/venues/htx) | PENGU-USDT | 0.0090% | 4 h | +19.6% | +48.3% | $149K | 2026-10-29 16:00 |
| [BloFin](https://afterfees.xyz/venues/blofin) | PENGU-USDT | 0.0063% | 4 h | +13.7% | +20.5% | $1.3M | 2026-10-29 16:00 |
| [Extended](https://afterfees.xyz/venues/extended) | PENGU-USD | 0.0013% | 1 h | +11.4% | +4.5% | $44.1K | 2026-10-29 16:00 |
| [Phemex](https://afterfees.xyz/venues/phemex) | PENGUUSDT | 0.0050% | 4 h | +10.9% | — | $1.6M | 2026-10-29 16:00 |
| [KuCoin](https://afterfees.xyz/venues/kucoin) | PENGUUSDTM | 0.0050% | 4 h | +10.9% | +7.7% | $6.8M | 2026-10-29 16:00 |
| [Arcus](https://afterfees.xyz/venues/arcus) | PENGU-USD | 0.0013% | 1 h | +10.9% | +11.0% | $40K | 2026-10-29 16:00 |
| [Bitunix](https://afterfees.xyz/venues/bitunix) | PENGUUSDT | 0.0050% | 4 h | +10.9% | +4.3% | — | 2026-10-29 16:00 |
| [MEXC](https://afterfees.xyz/venues/mexc) | PENGU_USDT | 0.0050% | 4 h | +10.9% | +4.5% | $8M | 2026-10-29 16:00 |
| [WhiteBIT](https://afterfees.xyz/venues/whitebit) | PENGU_PERP | 0.0050% | 4 h | +10.9% | +10.5% | $7.8M | 2026-10-29 16:00 |
| [Pacifica](https://afterfees.xyz/venues/pacifica) | PENGU | 0.0013% | 1 h | +10.9% | +11.0% | $68.3K | 2026-10-29 16:00 |
| [ApeX](https://afterfees.xyz/venues/apex) | PENGU-USDT | 0.0013% | 1 h | +10.9% | +10.8% | $49.1K | 2026-10-29 16:00 |
| [Bitget](https://afterfees.xyz/venues/bitget) | PENGUUSDT | 0.0050% | 4 h | +10.9% | +11.0% | $10.4M | 2026-10-29 16:00 |
| [WOO X](https://afterfees.xyz/venues/woox) | PERP_PENGU_USDT | 0.0050% | 4 h | +10.9% | +4.5% | $2.2K | 2026-10-29 16:00 |
| [LBank](https://afterfees.xyz/venues/lbank) | PENGUUSDT | 0.0050% | 4 h | +10.9% | — | — | 2026-10-29 16:00 |
| [BingX](https://afterfees.xyz/venues/bingx) | PENGU-USDT | 0.0050% | 4 h | +10.9% | +11.0% | $1.9M | 2026-10-29 16:00 |
| [Bybit](https://afterfees.xyz/venues/bybit) | PENGUUSDT | 0.0050% | 4 h | +10.9% | +4.6% | $17.5M | 2026-10-29 16:00 |
| [GRVT](https://afterfees.xyz/venues/grvt) | PENGU_USDT_Perp | 0.0050% | 4 h | +10.9% | +11.0% | $395.8K | 2026-10-29 16:00 |
| [Aster](https://afterfees.xyz/venues/aster) | PENGUUSDT | 0.0050% | 4 h | +10.9% | +9.8% | $188.4K | 2026-10-29 16:00 |
| [Variational](https://afterfees.xyz/venues/variational) | PENGU-PERP | 0.0050% | 4 h | +10.9% | — | $150.3K | 2026-10-29 16:00 |
| [TXFlow](https://afterfees.xyz/venues/txflow) | PENGU-USDC | 0.0013% | 1 h | +10.9% | — | $161.1K | 2026-10-29 16:00 |
| [Binance](https://afterfees.xyz/venues/binance) | PENGUUSDT | 0.0050% | 4 h | +10.9% | +4.5% | $34.2M | 2026-10-29 16:00 |
| [Hyperliquid](https://afterfees.xyz/venues/hyperliquid) | PENGU | 0.0013% | 1 h | +10.9% | +10.7% | $6.5M | 2026-10-29 16:00 |
| [Lighter](https://afterfees.xyz/venues/lighter) | PENGU | 0.0012% | 1 h | +10.5% | +9.2% | $230.5K | 2026-10-29 16:00 |
| [OKX](https://afterfees.xyz/venues/okx) | PENGU-USDT-SWAP | 0.0045% | 4 h | +9.9% | +7.1% | $7.4M | 2026-10-29 16:00 |
| [Gate](https://afterfees.xyz/venues/gate) | PENGU_USDT | 0.0036% | 4 h | +7.9% | +5.7% | $10.4M | 2026-10-29 16:00 |
| [Nado](https://afterfees.xyz/venues/nado) | PENGU-PERP_USDT0 | 0.0008% | 1 h | +7.0% | — | $82.5K | 2026-10-29 16:00 |
| [dYdX](https://afterfees.xyz/venues/dydx) | PENGU-USD | 0.0000% | 1 h | 0.0% | +0.4% | $2.3K | 2026-10-29 16:00 |
| [Kraken](https://afterfees.xyz/venues/kraken) | PF_PENGUUSD | -0.0004% | 1 h | −3.6% | +6.3% | $495.3K | 2026-10-29 16:00 |

## Borrow PENGU to sell spot

| Exchange | Borrow APR | Per-account limit |
|---|---|---|
| Bitget | 9.20% | — |
| OKX | 9.37% | — |
| Bybit | 11.17% | — |
| Binance | 46.76% | — |
| Gate | 65.66% | $120K |

## Cost to enter $10,000 of PENGU

| Exchange | Contract | Fee + slippage | Source |
|---|---|---|---|
| Nado | PENGU-PERP_USDT0 | 8.6 bp | order-book snapshot, 35 min old |
| GRVT | PENGU_USDT_Perp | 8.9 bp | order-book snapshot, 50 min old |
| BloFin | PENGU-USDT | 10.5 bp | order-book snapshot, 42 min old |
| Kraken | PF_PENGUUSD | 11.9 bp | order-book snapshot, 57 min old |
| ApeX | PENGU-USDT | 14.8 bp * | order-book snapshot, 48 min old |
| KuCoin | PENGUUSDTM | 17.4 bp | order-book snapshot, 3 min old |
| dYdX | PENGU-USD | 728.7 bp | order-book snapshot, 58 min old |
| MEXC | PENGU_USDT | 0.6 bp | top of book only |
| Lighter | PENGU | 3.2 bp | top of book only |
| Variational | PENGU-PERP | 3.8 bp | top of book only |
| Extended | PENGU-USD | 4.4 bp | top of book only |
| Binance | PENGUUSDT | 5.6 bp | top of book only |

_Taker fee plus slippage of a market buy of $10,000 from the mid price, at standard (VIP0) fees. * fee estimated: the exchange publishes no fee schedule without an account._

## More on PENGU

- [Borrow PENGU: rates on every exchange](https://afterfees.xyz/borrow/PENGU)

## Questions

**Is PENGU funding-rate arbitrage profitable right now?**

Not at $10,000 per side for 7 days: no PENGU pair shows a verified profit after fees and order-book slippage right now. Rates change every hour; the live page re-ranks continuously.

**Which exchange has the highest PENGU funding rate?**

Crypto.com at +37.8% a year (0.0043% every 1 h); the lowest is Kraken at −3.6%. A positive rate is paid by longs to shorts, a negative one by shorts to longs.

_The method behind every number on AfterFees is published; Pro opens each figure into its line-by-line calculation. Estimates from current data, not investment advice. We never hold funds or trade for you._