PENGU
Pudgy Penguins
Funding Rates by Exchange
| Exchange | Funding APR↓ | Interval | Open Interest↕ | Mark Price↕ |
|---|---|---|---|---|
 ExtendedBest Short | +11.40% | 1h | $245K | $0.0061 |
 HTX | +10.96% | 4h | $42K | $0.0062 |
 Aster | +10.96% | 4h | $44K | $0.0061 |
 Orderly | +10.96% | 4h | $5K | $0.0061 |
 SoDEX | +10.96% | 1h | $1K | $0.0062 |
 Hyperliquid | +10.37% | 1h | $4.5M | $0.0062 |
 dreamcash | +10.37% | 1h | $4.5M | $0.0062 |
 Ventuals | +10.37% | 1h | $4.5M | $0.0062 |
 Kinetiq | +10.37% | 1h | $4.5M | $0.0062 |
 ApeX | +9.48% | 1h | $61K | $0.0061 |
 Backpack | +7.90% | 1h | $121K | $0.0061 |
 Lighter | +7.89% | 1h | $239K | $0.0061 |
 Toobit | +1.09% | 4h | $112K | $0.0061 |
 dYdX | +0.00% | 1h | $7K | $0.0061 |
 BingX | -0.44% | 4h | $1.9M | $0.0061 |
 Bitget | -0.44% | 4h | $4.9M | $0.0061 |
 BitMart | -2.94% | 4h | $26.7M | $0.0061 |
 Bybit | -3.06% | 4h | $11.9M | $0.0061 |
 Variational | -3.09% | 4h | $374K | $0.0061 |
 Paradex | -5.63% | 8h | $10K | $0.0061 |
 MEXC | -5.70% | 4h | $0K | $0.0061 |
 Pacifica | -6.36% | 1h | $50K | $0.0062 |
 Binance Futures | -7.04% | 4h | $13.9M | $0.0061 |
 BloFin | -8.84% | 4h | $644K | $0.0061 |
 Gate.io | -9.20% | 4h | $1.1M | $0.0061 |
 OKX | -13.18% | 4h | $3.2M | $0.0061 |
 NADO | -14.71% | 1h | $364K | $0.0061 |
 Reya | -18.07% | 1h | $2K | $0.0061 |
 KuCoin | -21.48% | 4h | $6.5M | $0.0061 |
 grvtBest Long | -25.86% | 4h | $356K | $0.0061 |
PENGU funding rates explained
Funding data updated 23:57 UTC, 2026-07-08
PENGU (Pudgy Penguins) perpetual futures funding rates are tracked live across 30 exchanges on ORBIT. Funding is the recurring payment exchanged between long and short traders that keeps a perpetual contract tethered to the spot price — when it is positive, longs pay shorts; when negative, shorts pay longs. Right now PENGU funding ranges from -25.86% annualized on grvt to +11.40% on Extended.
The widest cross-exchange funding spread for PENGU is currently 37.3% APR. A delta-neutral funding trade captures this gap by going long on grvt — where funding is lowest, so the long leg is paid or pays the least — and short on Extended, where funding is highest, so the short leg collects. Because the two legs are equal and opposite, the asset's price moves cancel out and what is left is the funding spread. ORBIT's backtester replays the real funding history of both legs and subtracts live taker fees and order-book slippage, so the result is net PnL, not a headline number.
PENGU ranks #66 by open interest among tracked perpetual assets, total open interest across covered venues is $90.7M, 24h volume is $101.8M, the volume-weighted mark price is $0.0061. Deeper liquidity means a funding spread can be traded at larger size with lower slippage — use the Min OI filter on the screener to surface only markets you can realistically enter and exit.
Frequently asked questions
- Which exchange has the highest PENGU funding rate right now?
- Extended shows the highest PENGU funding at +11.40% annualized. A high positive rate means shorts get paid, so this is the venue to short PENGU when running a funding-arbitrage pair. Rates change every settlement window — check the live screener for the current value.
- Which exchange is best to long PENGU for funding?
- grvt has the lowest PENGU funding at -25.86% annualized, which makes the long leg cheapest (or paid). Pair it with the highest-funding venue to capture the spread delta-neutral.
- What is the best PENGU funding-arbitrage pair?
- The widest spread is long grvt / short Extended at about 37.3% APR before costs. Verify it in the ORBIT backtester, which subtracts real fees and slippage, before sizing a position.