Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Binance against Aevo+0.124%7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$900.905% of the position

Long on Aevo Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.021%−$2 on $10k

Price spread, last 3 days (all we have)−0.123%−$12 · spread now +0.124%, 7d avg +0.017%

Together, before fees−0.144%−$14 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.107% dearer against Aevo than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENGU-PERP	0.008804	0.0104	pay 0.0013% / 1h	32m 21s	$203K	—	3x
Short	Binance PENGUUSDT	0.008815	0.0100	get 0.0050% / 4h	2h 32m	$37.6M	$157.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Aevo. 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 AevobpFee BinancebpOrdersPrice spread, now +0.124%Rate

Funding earned: −$0.84
Price spread: +0.124% → +0.017%: $10.72
Slippage, 4 orders: −$64.47
Fee Aevo: 8 bp × 2 orders: −$16
Fee Binance: 5 bp × 2 orders: −$10
Net: −$80.59
Costs to cover: 0.905%
Break-even: never at this rate

Slippage from Aevo: live order book, 37 min ago; Binance: live order book, 11 min ago.

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 Aevo live order book, 37 min ago	11.20 bp	46.0 bp −$46	217.2 bp −$2,172	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	0.57 bp	10.4 bp −$10	20.5 bp −$205	69.7 bp −$6,972	doesn't fit

PENGU on 33 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
Variational Omni PENGU	−0.0010%	4h	0.008770	−0.385%	$872K	$1.0M	—	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008812	+0.091%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008809	+0.060%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0016%	4h	0.008812	+0.091%	$3.4M	$15.5M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.170%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0072%	1h	0.008813	+0.102%	$202	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008811	+0.080%	$311K	$707K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008810	+0.068%	$19K	$168K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008817	+0.148%	$594K	$991K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008817	+0.148%	$8.3M	$14.9M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDT	+0.0100%	4h	0.008808	+0.041%	$168K	$506K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008804	0.000%	$155K	$245K	5x	as long as short
Binance PENGUUSDTshort	+0.0100%	4h	0.008815	+0.124%	$37.6M	$157.6M	75x
Bybit PENGUUSDT	+0.0100%	4h	0.008803	−0.011%	$23.0M	$38.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008807	+0.034%	$7.5M	$47.8M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008810	+0.068%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008816	+0.136%	$12.0M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008816	+0.136%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008813	+0.102%	$8.3M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008801	−0.034%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008779	−0.284%	$301K	$318K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008804	0.000%	$472K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008802	−0.023%	$80K	$248K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009025	+2.510%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008809	+0.057%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008802	−0.023%	$89K	$337K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008808	+0.049%	$181K	$939K	10x	as long as short
Aevo PENGU-PERPlong	+0.0104%	1h	0.008804	long leg	$203K	—	3x
Kraken Futures PF_PENGUUSD	+0.0210%	1h	0.008818	+0.155%	$363K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008815	+0.120%	$298	—	10x	as long as short
dYdX PENGU-USD	+0.0239%	1h	0.008803	−0.016%	$12K	$4K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0513% / S −0.0708%	1h	0.008812	+0.091%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+1.851%	$95K	$100K	50x	as long as short