Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Extended against Aevo+0.126%7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$120as in the Funding arb table

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

costs, in and out, $10k−$1181.182% of the position

Long on Aevo Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 3 days (all we have)−0.123%−$12 · spread now +0.126%, 7d avg −0.025%

Together, before fees−0.143%+ Points / potential airdropExtended: Active · farm board−$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: Extended is 0.152% dearer against Aevo than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENGU-PERP	0.008822	0.0104	pay 0.0013% / 1h	42m 01s	$204K	—	3x
Short	Extended PENGU-USD	0.008833	0.0104	get 0.0013% / 1h	42m 01s	$185K	$803K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Aevo. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ExtendedbpOrdersPrice spread, now +0.126%Rate

Funding earned: $0
Price spread: +0.126% → −0.025%: $15.16
Slippage, 4 orders: −$97.18
Fee Aevo: 8 bp × 2 orders: −$16
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$103.02
Costs to cover: 1.182%
Break-even: never at this rate

Slippage from Aevo: live order book, 32 min ago; Extended: live order book, 31 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, 32 min ago	28.62 bp	45.5 bp −$46	253.0 bp −$2,530	doesn't fit	doesn't fit
Sell Extended live order book, 31 min ago	0.57 bp	9.9 bp −$10	84.0 bp −$840	doesn't fit	doesn't fit

PENGU on 34 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
Kraken Futures PF_PENGUUSD	−0.0391%	1h	0.008846	+0.268%	$370K	$2.3M	50x	as long as short
Gate PENGU_USDT	−0.0338%	4h	0.008835	+0.147%	$3.4M	$15.5M	75x	as long as short
Variational Omni PENGU	−0.0298%	4h	0.008761	−0.690%	$867K	$931K	—	as long as short
01 Exchange PENGUUSD	−0.0224%	1h	0.008833	+0.125%	$202	$59	5x	as long as short
Bybit PENGUUSDT	−0.0211%	4h	0.008832	+0.113%	$23.2M	$37.4M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0203%	1h	0.008829	+0.079%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008833	+0.127%	$34K	—	150x	as long as short
Backpack PENGU_USDC_PERP	+0.0014%	1h	0.008840	+0.204%	$310K	$311K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0024%	4h	0.008798	−0.272%	$466K	$2.1M	10x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.374%	$3K	$117K	5.5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PENGU-PERP	+0.0051%	1h	0.008833	+0.125%	$700K	$773K	5x	as long as short
dYdX PENGU-USD	+0.0061%	1h	0.008828	+0.063%	$12K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008839	+0.193%	$309K	$727K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008833	+0.125%	$24K	$183K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008842	+0.227%	$8.3M	$15.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008840	+0.205%	$189K	$481K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008829	+0.079%	$152K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008837	+0.164%	$36.9M	$155.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008837	+0.170%	$7.6M	$47.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008830	+0.091%	$19K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008837	+0.170%	$12.4M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008837	+0.170%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008840	+0.204%	$8.4M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008831	+0.102%	—	$2.3M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008789	−0.374%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009034	+2.403%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008831	+0.102%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008847	+0.283%	$91K	$295K	25x	as long as short
Extended PENGU-USDshort	+0.0104%	1h	0.008833	+0.126%	$185K	$803K	10x
Aevo PENGU-PERPlong	+0.0104%	1h	0.008822	long leg	$204K	—	3x
Reya PENGURUSDPERP	+0.0238%	1h	0.008829	+0.077%	$298	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008823	+0.011%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0499% / S −0.0683%	1h	0.008831	+0.102%	$111K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.008850	+0.317%	$94K	$103K	50x	as long as short